Pep Guardiola’s transfer purse may be determined by sales while Arsenal & Spurs might need to sell their best players

Financial constraints on the Premier League’s biggest clubs

Early in May, KPMG, the global accountancy firm, released its analysis of the financial fallout in the football transfer market from the Covid-19 crisis, and the forecasts were staggering.

As reported in the FT, KPMG predicted that the European transfer market is set to crater, with up to €10 billion to be wiped off the market. Readers were told:

Up to €10bn will be wiped off the value of European football players due to the coronavirus pandemic, as some of the sport’s biggest clubs warn that plummeting revenues mean less cash will be spent on star signings.

Player values set to fall by up to 10bn Euros according to KPMG, with top clubs preparing to spend far, far less in what is set to be a depressed transfer market. More signs of the ripple effect of the pandemic shutdown across football – in @FT https://t.co/0YNCNQX3ci

— Murad Ahmed (@muradahmed) May 6, 2020

In the preceding weeks, much of the conversation in England has focused less on financial doom and gloom, and more on when the Premier League can restart.

However, reporter Matt Law has today considered how some of the biggest teams in England could be restricted in the next transfer market.

Tottenham Hotspur and Arsenal set for lean summer transfer window unless leading players are sold | @Matt_Law_DT https://t.co/rpc4z7Sq6c

— Telegraph Football (@TeleFootball) May 26, 2020

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MANCHESTER, ENGLAND – JANUARY 29: Pep Guardiola, Manager of Manchester City gives his team instructions as Nemanja Matic of Manchester United embraces Ole Gunnar Solskjaer, Manager of Manchester United after being sent off during the Carabao Cup Semi Final match between Manchester City and Manchester United at Etihad Stadium on January 29, 2020 in Manchester, England. (Photo by Shaun Botterill/Getty Images)

Man City: Pep Guardiola’s transfer purse may be determined by sales

As we wait to see if the Newcastle United takeover completes, Manchester City remain the richest club in the Premier League right now.

However, despite being backed by the Abu Dhabi royal family, Matt Law believes City may have to sell before they can buy:

Manchester City could sell John Stones and Leroy Sane to help fund moves for a new defender and forward while balancing the books.

On Stones, Newcastle United have been named as a potential buyer.

While, regarding Sane, the winger seems set to move to Bayern Munich: that deal is flagged up on the front cover of today’s brand new Sport Bild magazine.

The next @FCBayern Generation – they want to become the new power in Europe for the next decade pic.twitter.com/MhZOzkPCly

— Christian Falk (@cfbayern) May 27, 2020

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Arsenal’s Spanish head coach Mikel Arteta (R) speaks with Arsenal’s Gabonese striker Pierre-Emerick Aubameyang (L) during the English Premier League football match between Arsenal and Manchester United at the Emirates Stadium in London on January 1, 2020. (Photo by Ian KINGTON / IKIMAGES / AFP) / RESTRICTED TO EDITORIAL USE. No use with unauthorized audio, video, data, fixture lists, club/league logos or ‘live’ services. Online in-match use limited to 45 images, no video emulation. No use in betting, games or single club/league/player publications. (Photo by IAN KINGTON/IKIMAGES/AFP via Getty Images)

Arsenal: Only free transfers, loans or by finding swap deals

When it comes to Arsenal, the Telegraph believe the Gunners are in an even tighter financial spot:

Arsenal are currently working to the scenario in which they will only be able to sign players on free transfers, loans or by finding swap deals.

In this framework, Arsenal are linked with a move for Chelsea’s Willian, who will be out of contract at the end of the season.

However, if Mikel Arteta is to get the green light to spent big money on a player, he may have to sell the club’s best players to raise the capital:

The Gunners may be forced to sell (Pierre-Emerick) Aubameyang if he does not extend his contract and have been linked with a swap move involving Lacazette and Thomas Lemar.

Should any of this really be a surprise for Arsenal fans?

Back in February, Arsenal’s latest accounts showed a £27.1 million loss. That was the first time Arsenal had announced an operating loss since 2002.

Arsenal have an annual wage bill of £230 million, while they’ve only been playing Europa League football in recent seasons.

Moreover, the Gunners are only 9th in the current Premier League campaign, so they’re not returning to the Champions League anytime soon.

Considering the current economic implications during the Covid-19 pandemic – reduced TV payouts, no gate receipts – it feels understandable why Arsenal’s finances going forward are set to be restricted.

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SOUTHAMPTON, ENGLAND – JANUARY 01: Jose Mourinho, Manager of Tottenham Hotspur embraces Harry Kane of Tottenham Hotspur as he walks off the pitch after picking up an injury during the Premier League match between Southampton FC and Tottenham Hotspur at St Mary’s Stadium on January 01, 2020 in Southampton, United Kingdom. (Photo by Michael Steele/Getty Images)

Could Tottenham sell Harry Kane?

Unlike their north London rivals, Tottenham have been playing Champions League football in recent seasons.

However, Spurs also have huge outlays in recent years as they’ve built their state-of-the-art stadium.

As a result, the Telegraph claim that Tottenham may only be able to sign players if they are free agents of they can be picked up in swap deals.

Like Arsenal, Willian is a named target for Tottenham. While PSG’s Thomas Meunier, who is out of contract this summer, is another player on Jose Mourinho’s radar.

Matt Law has also floated the unlikely idea Spurs could sell Harry Kane to raise funds:

The only room for manoeuvre for (Spurs to) raise significant funds (is by) accepting a big bid for Harry Kane.

Tottenham are currently planning for the fact they will keep Kane, but have to look for free transfers, loans and swap deals to try to freshen up head coach Jose Mourinho’s squad.

On outgoings at Tottenham, Jan Vertonghen is set to join either Inter Milan or Roma in the summer.

However, the Telegraph rule out Tanguy Ndombele’s exit, saying that Daniel Levy will not allow the club’s record signing to leave.

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Premier League table as it stands:

#	Team	MP	W	D	L	F	A	D	P
1	Liverpool FC	29	27	1	1	66	21	45	82
2	Manchester City	28	18	3	7	68	31	37	57
3	Leicester City	29	16	5	8	58	28	30	53
4	Chelsea FC	29	14	6	9	51	39	12	48
5	Manchester United	29	12	9	8	44	30	14	45
6	Wolverhampton Wanderers	29	10	13	6	41	34	7	43
7	Sheffield United	28	11	10	7	30	25	5	43
8	Tottenham Hotspur	29	11	8	10	47	40	7	41
9	Arsenal FC	28	9	13	6	40	36	4	40
10	Burnley FC	29	11	6	12	34	40	-6	39
11	Crystal Palace	29	10	9	10	26	32	-6	39
12	Everton FC	29	10	7	12	37	46	-9	37
13	Newcastle United	29	9	8	12	25	41	-16	35
14	Southampton FC	29	10	4	15	35	52	-17	34
15	Brighton & Hove Albion	29	6	11	12	32	40	-8	29
16	West Ham United	29	7	6	16	35	50	-15	27
17	Watford FC	29	6	9	14	27	44	-17	27
18	AFC Bournemouth	29	7	6	16	29	47	-18	27
19	Aston Villa	28	7	4	17	34	56	-22	25
20	Norwich City	29	5	6	18	25	52	-27	21

Last updated: 1 min ago

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Also see: Best Netflix, Amazon & YouTube football documentaries & movies to watch during coronavirus isolation

9 best football documentaries to watch on ESPN+ during COVID-19 quarantine

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