Premier League clubs across England are fearing high transfer fees in the coming summer transfer window after the outbreak of the Coronavirus crisis, according to reports in the Mirror.
The economic impact of the Coronavirus could see Premier League clubs reduce their transfer budgets significantly and the signing of players for extravagant fees might become out of the question.
The Coronavirus has shaken up the Premier League and all football leagues across the world and according to one top sports lawyer from Leeds, it could ‘change football forever’.
That means that spending high transfer fees for players such as £120m-rated Liverpool, Manchester United and Chelsea target Jadon Sancho, as per the Mirror report, could be out of the question.
The financial ramifications of football being suspended across Europe are sure to hit clubs hard and will force all European clubs to rethink their transfer budgets.
One club administrator told Mirror Sport:
“It won’t be a good look if after all that’s happening clubs immediately start paying huge transfer fees for new players.
“I would imagine that conversation is already being had at many clubs who were planning on substantial investments in the market during the summer window.
“Paying over £100million for a player when the world emerges from the Covid-19 crisis would seem to be inviting trouble.
“What the transfer window will look like when it does operate again is anyone’s guess but you can be certain club’s will be treading cautiously.
“We could even see this being the moment that the transfer market is recalibrated with many in football believing its lost all sense of reality in the last few years.
“Players salaries in the future may also come under review by some clubs as football counts the cost of an unprecedented shutdown of the sport.”
With entire economies being affected due to the Coronavirus, clubs spending high fees on players could change in the future and the impending transfer business in the summer window remains a huge concern for clubs across Europe and the Premier League.