Published 15:47 IST, March 31st 2020
Premier League clubs' transfer values to drop by $16.6 billion amid coronavirus crisis
The Premier League clubs are expected to lose $16.6 billion in transfer values if the season is cancelled and players' contracts aren't renewed.
The outbreak of the coronavirus in UK has forced the Premier League suspension news. However, the financial impact of the coronavirus has reportedly damaged the Premier League transfer values for players and clubs in England. The Premier League transfer values are expected to drop by £8.3 billion ($16.6 billion) after calculations were done by researchers at the CIES Football Observatory having included all clubs in the top division.
FA confirms Premier League suspension: Premier League transfer values drop
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The Premier League suspension was confirmed by the FA after Arsenal boss Mikel Arteta tested positive for coronavirus. The latest Premier League update regarding the Premier League suspension is that no games will be played at least until April 30 but even that date of resumption seems unrealistic considering the spread of the coronavirus of late. However, the Premier League transfer values for players will be slashed and top clubs including Manchester City and Liverpool are in line to face a substantial drop in their transfer values if the English top flight is cancelled and players' contracts aren't renewed after June.
Premier League suspension: How are Premier League transfer values calculated?
With the threat of coronavirus still looming large, the rumour around the Premier League suspension news is that the season might get cancelled. In such a case, the Premier League transfer values for players could drop significantly and the parameters of calculating these values include players’ age, contract duration, career path as well as recent performances. Manchester United ace midfielder Paul Pogba's contract with the Red Devils expires next summer and the World Cup-winning French midfielder's value has been cut in half to just £31.25million ($62.8m).
Premier League suspension causes drop in value for clubs
The Premier League update from the research team at the CIES Football Observatory reported that Man City are expected to become the biggest losers in Europe. With star names out of contract at the end of the season, £366m ($736m) could be wiped off the market value from Pep Guardiola's side. Jurgen Klopp's Liverpool are next with a potential £314m ($631m) loss. The likes of Manchester United (£260m or $523m), Chelsea (£223m or $448.5m), and Arsenal (£154m or $309.5m) are also expected to undergo heavy losses amid the coronavirus in UK situation. The total loss in transfer values with the addition of all Premier League clubs included comes up to a staggering £8.3 billion ($16.6 billion).
Updated 15:47 IST, March 31st 2020