Coronavirus Effects on the Transfer Market

The football world, like the rest of the world, has been greatly affected by the COVID-19 crisis, and there are questions being asked about almost every single aspect of the game and how it will continue after the crisis. However, one of the key questions being asked is in relation to the transfer market. How will the coronavirus crisis affect the transfer market, and how will the processes, prices and timelines change?

There is no doubt that the entire world is going to struggle financially as a result of the crisis, but with the amount of money involved in football, between sponsors, advertisers and broadcasters, it is hard to see how many of the world’s top clubs will survive the turmoil. There has been lots of speculation, and some estimates say that clubs in the Premier League could owe broadcasters nearly £1 billion if the season is not completed.

This could prove catastrophic for some clubs that rely on TV exposure to pay the bills, but what happens if the industry does survive? How will transfers play out, given that a lot of clubs will be faced with an extreme lack of funds due to limited, if not non-existent, cash flow over the last few weeks? We have seen massive prices for players over the past few years, with the likes of Neymar being bought for nearly £200 million by PSG in 2017.

This obviously netted Barcelona a huge payday, but does the power still lie with the seller? With clubs undoubtedly facing struggles after the crisis passes, the buyers will be able to set the prices in many cases, which will flip the tables completely. Some clubs may be forced to sell top players at much lower prices if they are struggling to pay wages due to the drop in cash flow.

Some believe that transfer prices could drop by as much as 20%, which means there will be plenty of talking points come the transfer window, as many clubs that have solid financials but have perhaps struggled to secure big names in the past will have increased buying power in a much weaker market.

Another major feature could involve backlash from fans if players are still valued at exorbitant prices. With the entire country struggling to cope with the inevitable economic recession, there will be outrage if players are still valued at obscene prices. This could result in tension between clubs, as well as between fans and competition authorities. It could lead to a major reassessment of what footballers are worth, and it could mean that we have to wait a long time before we see a new world record football transfer.

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