As we head into August, the Premier League transfer markets are still up in the air. They are taking shape however and they remain all-important as to where each club may finish next May.
There’s a lot more to come between now and early September, but we’re looking at whose squad has changed the most so far according to transfer values.
We have to bear in mind here that gaining a profit is good business, but unless you are selling over the hill players and constantly buying cheap future superstars it’s not that good in football.
Speaking very generally, selling valuable players and buying cheaper ones usually means you have a less capable squad. That’s the theory, anyway.
Spending is restricted now because of PSR, a move that has in fact not been good for competition. Just ask Villa and Newcastle what it’s like trying to break through when you have the capabilities and the means.
Across June and July, how has each club’s business been so far?
Club by Club Profit and Loss
Arsenal have spent a net €216.20m so far. That’s a big statement considering where they sit in the hierarchy already, the perennial runners up. Villa are struggling because of PSR as they look to break into the bigtime long-term. They have essentially spent nothing so far and that must be a worry for them.
Brentford are in profit to the tune of €40.70m and could yet sell Wissa, but that has decimated their squad though they have bought young again. Brighton too are in profit (€41.70m), but how long can they go on without big squad investment?
The never-ending spending of Chelsea continues. Their bank is €92.17m down. They keep splashing the cash and it’s annoying, but it’ll work eventually. Are they title contenders? Further south, Palace have spent only around €2.30m and really need more. Another club the system wants to keep where it is.
Everton have a net spend of €54.60m which is a start. They needed that, but it’s not huge and coming from a low base means they likely need more. Fulham have spent nowt. They seem sustainable, but they don’t really move forward.
Liverpool are the living embodiment, along with Chelsea but for different reasons, of why PSR is bad. They won the league, yes, they were in the Champions League, yes, but being able to spend more because of that revenue essentially means that nobody else can get involved. Keep winning – keep spending.
They have spent a net €175.38m this summer on top of a title-winning squad, perhaps with more to come. Man City are also strong when it comes to PSR. They’ve dished out another €143.90m net on top of their big January spend. They are still able to simply buy when things aren’t perfect.
Across town Man United have spent €153.20m net. That’s good, but they begin also from a very low base, and it seems the players they attract play for ‘history’. Will they really produce the goods?
Newcastle are the big losers when it comes to PSR. The rules kept changing whenever they wanted to spend. They have managed a net €30.40m spend this summer, but that’s it. More is needed after their fifth place as they have ambition and now have the Champions League to contend with. Isak leaving would make these figures even worse.
Nottingham Forest are in profit by some €76.40m. That’s a lot of talent to lose, while Tottenham are a club looking to get back above them and have spent a net €127.10m so far. They really needed that, Thomas Frank can make a difference too, but the sticking point is taking last year’s walking disaster into a Champions League campaign.
West Ham are up €1.80m. They are once again making no real progress in any way, while Wolves have brought in €44m in profit. They have been in the Premier League for a while now and really need to spend some of the cash, not save it.
What about the promoted teams? Burnley have spent €39.35m net. That’s likely improvement, but surely not enough. Leeds were best at second tier level last season and have spent €79.40m this summer. It’s a good statement and perhaps gives them a chance.
Sunderland have been the big spenders, in fact the biggest spenders in the North East. Their bank is down €88.40m so far. That’s a good step up, but lots is needed for survival. Suddenly their fans (as well as Liverpool’s) have stopped the “buying the league” accusations aimed hitherto at certain other clubs. Fans tend to love the money when it’s their turn to spend it. It is needed in the Premier League whether we like it or not.
Where Do the Key Clubs Rank?
Where does that leave us? Well, Man City rather surprisingly still show up as having the most valuable squad overall. When it comes to an average value per player however, this is the top eight:
- Arsenal
- Man City
- Liverpool
- Chelsea
- Man United
- Tottenham
- Newcastle
- Aston Villa
Given Arsenal’s spending on top of finishing second, this is interesting. Could it finally be their year?
As for the bottom six, based on average value per player, this is how it shakes out:
- West Ham
- Wolves
- Brentford
- Leeds
- Sunderland
- Burnley
This should be a stark reminder for Burnley, Leeds and especially Sunderland fans that the kind of money they are spending is a drop in the ocean Premier League wise. Lots more is needed, though if Brentford lose more players you would really worry for their position in the league.
For their part, West Ham and Wolves showing on this list is no surprise. Something has to done at those clubs and it probably simply involves reinvesting the money they’ve gained in revenue to date.