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Arsenal, Chelsea and Tottenham hit by £1.6bn drop in Premier League squad values

An estimated value of £1.6bn has been wiped off of Premier League squads because of the coronavirus pandemic, data from football statistics website Transfermarkt shows.

Transfermarkt calculates a player’s value using a variety of different statistics and data and the aggregated estimates of site users.

It predicts a massive drop in prices, with current Premier League champions Manchester City suffering the biggest loss of around £225m.

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Matthias Seidel, the founder of Transfermarkt, said: “The stock market prices collapsed. Many clubs could be threatened by insolvency and transfer plans come to a standstill because of the many uncertainties.”

The website takes into account a variety of different statistics, including a player’s age, length of their current contract and any previous transfer fees that have been paid. Those statistics are then discussed in detail with the site’s community, before coming up with an estimated value.

The coronavirus crisis, which has brought the European football calendar to a standstill, is set to cause a sudden drop in revenue and put a lot of clubs’ transfer plans on hold. It is also claimed that the website believes there will be a knock-on effect with transfer fees.

It has cut 20 per cent off the value of players born before 1998, with those born after that year seeing their value cut by 10 per cent.

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That is because the value of players aged 22 or below generally holds up more than other players, meaning teams who have a lot of players over the age of 22 are likely to suffer the biggest drop in value.

Though his price has dropped from £144m to £115m, Manchester City and England star Raheem Sterling remains the Premier League’s most expensive player.

In total, City’s squad value has dropped from around £1.1bn to £917m.

Liverpool,…

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