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Premier League clubs rein in transfer deals

This week Fifa released figures on the amount clubs spent in the 2018 transfer window: Big 5 leagues spending

The numbers show that clubs in the Premier League spent $1.44bn on transfer fees, a slight decrease from last year's figure of $1.46bn. This is the first fall in the summer window when most of the spending takes place. The winter window often involves discarding disgruntled or failing players and some panic buying by under performing clubs.

In contrast, clubs in Germany, Italy and Spain increased their spending. English side recouped almost $560m in player sales, more than in any other season since the start of the decade.

The shorter transfer window and the absence of many players at the World Cup affected the time available to do deals. The fall in the value of the pound against the dollar and the euro also affected the spending power of English clubs, although some of them have income in euros from European competitions.

However, there may have also been a Brexit effect on decisions by clubs. Just as in other sectors of the economy, uncertainty about the outcome has deterred investment. The effect is probably less than in some sectors, however, as football clubs have a much more short-term horizon than other businesses. Players are needed in the current season to achieve targets such as Champions League qualification.

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