European football’s biggest clubs have slashed spending on players, even as the sport’s summer transfer window included blockbuster moves for the likes of Lionel Messi and Cristiano Ronaldo.
The reduced spending on transfer fees reflects two years of financial losses caused by the coronavirus pandemic leaving the sport’s executives struggling to profit from the multibillion-euro player trading market.
The transfer window — a three-month period in which teams can sign players — closed on Tuesday night. Overall spending during the window by Europe’s “big five” leagues in England, Germany, Spain, Italy and France was close to €3bn, according to figures from the consultancy Deloitte.
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