Football transfer market to sag by €10 billion amid COVID-19
Football transfer market to sag by €10 billion amid COVID-19

Amid the coronavirus pandemic, we can see global changes in values. Everything is being reversed. For example, some goods are rising in price, while the value of labor power is being decreased. The outbreak has dealt an enormous blow to the labor market. As a result, the world sees high unemployment, rising productivity with stagnant wages, and declining labor costs. Experts believe that the market of football players risks losing more than 10 billion euros this year. Meanwhile, clubs are expected to cut their costs of purchasing new players. Therefore, given the global crisis, this will definitely make the clubs cheaper. “I cannot help feeling that speculation around transfers of individual players for hundreds of millions of pounds this summer seems to ignore the realities that face the sport,” Manchester United executive vice-chairman Ed Woodward said, urging partners to curb expectations. Over the past few years, the football market has grown steadily. That is why many people expected it to expand further, especially for the English Premier League, Spain's La Liga, and Germany's Bundesliga. However, the pandemic changed the situation. Football matches were completely suspended, while clubs were forced to significantly slash spending, including transfer one. Moreover, the outlook is so gloomy that FIFA is planning to extend transfer windows until August, that is, until the end of the domestic football seasons.

Published: 2020-05-19 08:38:39 UTC
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