It has been more than a month since the transfer window officially opened, and it has been about nine weeks since the top leagues in Europe ended.
However, there has not been much activity in the market, especially among Premier League clubs and clubs in other leagues. The only major transfer so far has been Kylian Mbappe’s move to Real Madrid, which was a free transfer that had been sorted out earlier in the year.
Kylian Mbappe signs for Real Madrid
Clubs have been cautious due to Financial Fair Play (FFP) regulations, particularly in the Premier League, where it is known as the Profit and Sustainability Rules (PSR). This upcoming season marks the end of the PSR tenure in English football, and many clubs are on the verge of facing punishment for breaching these rules. Everton and Nottingham Forest, for example, have already been handed points deductions for defaulting, and Leicester City is facing point deficits heading into the new season.
How has PSR restricted club transfers?
There are several factors contributing to the silence in the transfer market. Firstly, the just-concluded major football competitions in Europe and South America, such as the Euro 2024 and Copa America, have kept clubs and players occupied. Additionally, there have been changes in high-ranking positions within clubs, with Liverpool, Barcelona, Bayern Munich, and Chelsea all appointing new coaches.
Enzo Maresca takes charge of training of Chelsea squad
However, one major reason for the lack of signings is the impact of the FFP rules. These regulations have affected clubs’ transfer plans, with Arsenal manager Mikel Arteta stating;
“It’s a very different summer, everything is a bit slower. The market and the new rules in place have made clubs more cautious and delicate in conducting business. We have adapted to that, but we still want to deliver and improve.”
Clubs will be looking for ways to navigate the rules and find loopholes. We have already seen some clubs engaging in player exchanges among themselves, such as Aston Villa, Newcastle, Everton, and Chelsea.
Chelsea signs Liam Kellyman from Aston Villa
In April, Premier League clubs voted in principle for new FFP rules. The proposed rules include the introduction of a spending cap starting from the 2025/26 season. If approved in a final vote later this year, the new rules will replace the current PSR, which has sparked controversy in the Premier League this season.
The proposed rules state that clubs not participating in European competitions would be allowed to spend 85% of their club revenue on squad costs, including player wages, amortized transfer fees, and agent fees. Clubs participating in European competitions would be limited to a maximum of 70% of their club revenue for squad costs, in line with UEFA regulations.
What can we expect in this summer’s transfer window?
Ricardo Calafiori via Nowarsenal
As we move into early August, clubs are expected to become more active in the market and start making signings. Changes will undoubtedly occur, as Liverpool Sporting Director Richard Hughes predicts,
“After the flurry of activity in June, I think it will calm down a little bit in July. However, when August starts and coaches have had more time to work with players, I think there will be a rush to get things done and ensure that everyone’s squads are in order. This is a pattern we have seen in previous seasons, and I don’t think this year will be any different. The economic situation is uncertain, so it’s hard to predict, but a quiet July followed by a crescendo of activity in August seems likely.”
In conclusion, the lack of movement in the transfer window among Premier League clubs can be attributed to various factors, including FFP/PSR regulations, ongoing football competitions, coaching changes, and the need to navigate the rules. However, as we approach August, we can expect clubs to become more active and make necessary signings to bolster their squads for the upcoming season.
