Liverpool summer transfer spending may not be over as £156m truth emerges
With the summer transfer window well and truly in full swing the eye-watering sums of money being paid in the Premier League to acquire new players shows no signs of abating.
Arsenal are set to make Declan Rice the most expensive English addition in the Premier League imminently, with the West Ham United midfielder expected to complete a £105m switch across London. Elsewhere there has been considerable outlay from the likes of Manchester United who spent £60m signing Mason Mount from Chelsea, and Newcastle United splashed out £55m to bring Italian midfielder Sandro Tonali to Tyneside.
The issue of remaining under the radar of the Premier League’s profit and sustainability rules is more profound at some clubs than others. The P&S rules allow clubs to lose £5m per year or £35m if backed up by secure funding (i.e. an irrevocable commitment from owners or an equity contribution, with owner loans not sufficient). It is monitored over a three-year period meaning that the total of £105m is permitted to be lost over those three years. Failure to abide by the rules can result in a range of sanctions placed upon the club, from fines to potential points deductions.
Due to the significant financial impact of the coronavirus pandemic, the Premier League allowed for the 2019/20 and 2020/21 periods to be combined and assessed as an average of the two.
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