Manchester United manager Erik ten Hag was distraught at not being able to sign a striker in the January transfer window this year. “I wanted a striker, and because of the injury to (Anthony) Martial, we don’t really have the back-up. It was not possible because we have to meet the FFP rules,” he said.
It’s been a while since the Premier League managers have had to worry about Financial Fair Play rules as witnessed by their spending in the last three record-breaking winter windows. Even last year, the EPL clubs had spent £815m. This year, it has seen a mighty fall with the 20 top-flight clubs spending just £100m, which is £715m less than last year according to a report by Deloitte, with Tottenham’s signing of Radu Dragusin from Genoa for £25m the highest spent this time around.
So, was the Premier League’s Profit and Sustainability Rules (PSR) the only factor that restricted the clubs from going all out in the market this year? Let’s find out.
Written by Sayak Dutta
Updated: February 4, 2024 18:51 IST
The 20 top-flight Premier League clubs spent just £100m in January 2024, which is £715m less than last year, with Tottenham’s signing of Radu Dragusin from Genoa for £25m the highest spent this time around.
Manchester United manager Erik ten Hag was distraught at not being able to sign a striker in the January transfer window this year. “I wanted a striker, and because of the injury to (Anthony) Martial, we don’t really have the back-up. It was not possible because we have to meet the FFP rules,” he said.
It’s been a while since the Premier League managers have had to worry about Financial Fair Play rules as witnessed by their spending in the last three record-breaking winter windows. Even last year, the EPL clubs had spent £815m. This year, it has seen a mighty fall with the 20 top-flight clubs spending just £100m, which is £715m less than last year according to a report by Deloitte, with Tottenham’s signing of Radu Dragusin from Genoa for £25m the highest spent this time around.
So, was the Premier League’s Profit and Sustainability Rules (PSR) the only factor that restricted the clubs from going all out in the market this year? Let’s find out.
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What are the Premier League’s Profit and Sustainability Rules?
According to the rules, Premier League clubs are allowed to lose a maximum of £105 million across a three-year assessment period. However, for every season a club was in the second-tier Championship, that amount is reduced by £22 million. There are a number of deductions allowed for spending on costs that are deemed to be in the general interest of the club and the game.
Everton and Nottingham Forest have been charged with breaching the financial rules with both clubs being referred to an independent commission for their 2022-23 accounts. The Toffees have already faced a 10-point deduction this season due to t
heir alleged breaches in the 2021-22 season where their losses amounted to £124.5m.
Meanwhile, the reigning champions Manchester City are also under the scanner after getting accused of more than 100 financial breaches in an investigation which has gone on for 5 years, with charges dating way back to 2009 by a Premier League investigation. An independent commission is now in charge to pass the verdict on the matter at a date yet to be confirmed.
What might have been the other factors for a dry January?
There might be many other factors that have led to such an uneventful month in transfers in January with the past record-breaking windows having already strengthened teams that do not have to spend more. There can also be the factor that only 2 managers were sacked this season compared to 11 last year so there was no need for an influx of new players for a new manager.
Which transfer was the biggest deadline day permanent signing in January 2024?
In order to understand how far the mighty have fallen, you just have to look at the biggest deadline day permanent signing in the country with Crystal Palace spending £18m for Blackburn’s Adam Wharton, a fee that can rise to £22m.
In January 2023, the highest deadline day deal was Chelsea’s £107m signing of Argentina’s Enzo Fernandez from Benfica.
