Clubs fear transfers to take Brexit pounding

THE shockwaves felt after Britain voted to leave the European Union are set to have a dramatic impact on the transfer fees splashed out by cash-rich Premier League clubs for leading European players.

One question is whether players like French Manchester United target Paul Pogba would be eligible to play in Europe’s most high-profile and competitive league, given that talks on Britain remaining in the single market could drag on for at least two years.

More immediately, t he decline in the value of the pound will make transfer targets more difficult to acquire.

“If the pound continues to fall, then foreign talent will become more expensive. That could have a huge knock-on effect in the summer transfer window,” Simon Chadwick, professor of sports enterprise at the University of Salford, told the Times of London.

Euros or pounds?

While fluctuations in the exchange rate shouldn’t unduly concern the wealthiest clubs such as Manchester City and cross-town rivals United, the mid-level Premier League teams will notice a difference.

Even with cash from a new record television deal coming in, a bid of £10 million ($13.4 million) for a European player rose by as much as £900,000 in the past two days, due to the slump in the pound’s value against the euro.

“The Premier League is always going to be a net importer. It depends now on whether the transfer fee is paid in pounds or whether it is paid in euros,” Daniel Geey, from sports law firm Sheridans, told the Daily Mail.

“Likewise with wages for European players, they could be paid as a guaranteed mark in euros and then converted into pounds afterwards.”

There are differing opinions over whether remaining in Europe’s single market – which usually requires that a country allows freedom of movement – would be a blessing, or – as leading Brexiteer Michael Gove feels – it is better to try one’s luck outside it.

If Britain left the single market, players coming in would have to meet stringent rules for non-EU players – who must have played in a certain percentage of their national team’s matches. Gaining a British work permit would also depend on their country’s FIFA ranking over the previous two years.

If the non-EU rule was imposed, over 400 players in the top two leagues in Scotland and England would fail to meet the requirements.

Among them, France’s star player at the Euro 2016 finals Dimitri Payet of West Ham and midfield enforcer N’Golo Kante, an integral player in Leicester’s fairytale Premier League title last season, would not have passed the test.

For some, however, not being in the single market would be a blessing, as it would allow young English talent a chance to shine more regularly at the elite league level rather than being loaned out to second tier teams to gain first team experience.