Premier League clubs are seemingly not pumping the brakes on spending in the summer transfer period, and the record is under threat. This is even though several English top-flight teams are dealing with problems regarding profit and sustainability rules (PSR). These laws currently prevent clubs from exceeding $133 million in losses over three years.
Everton, Nottingham Forest, and Manchester City have all been charged with violating PSR. The Toffees (twice) and Forest were both previously docked points during the 2023/24 campaign. City, on the other hand, has a much more intricate case and will not face the courts until later this year. This comes as the club recently picked up their fourth consecutive Premier League title.
Along with this trio, other top-flight teams are also teetering on possible spending sanctions. Aston Villa, Chelsea, Newcastle, and Leicester City are thought to be on the brink of breaking the financial rules. These clubs all recently scrambled to finalize player transactions ahead of June 30th. This date was immensely important to teams, as the 2023/24 financial year finished ahead of July 1st. As a result, they all had to make late moves to avoid PSR punishments.
Teams spent more in last few days than the entire January period
The push to quickly finalize deals triggered a miniature spending spree within a short period. Premier League teams have combined to spend about $310 million on players in just the last few days. This is already more than English top-flight sides collectively spent during the entire January transfer window.
Assuming this trend continues, we could see yet another record-breaking summer transfer period in the Premier League. English clubs combined to spend around $2.9 billion just last summer, which is the current record. If this figure is soon surpassed, it would be the third straight year that there is a new spending record.
Along with the many recent moves, two more sizable Premier League…
Source link : https://worldsoccertalk.com/news/premier-league-clubs-continue-to-splash-cash-despite-psr-issues/
Author : Chris Moore
Publish date : 2024-07-02 20:04:15
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