Premier League chief executive Richard Masters has defended Premier League clubs’ decision to spend more than £1billion during the summer transfer window, despite the financial troubles caused by the coronavirus pandemic.
Masters is this morning facing questions from MPs on a Digital, Culture, Media and Sport Committee about the future of football in England following the Covid-19 crisis.
Despite the football season having to be paused for more than three months, and fans having not been allowed to attend matches since March, meaning income has been significantly impacted, Premier League clubs still found the ability to spend massive amounts of money during the summer transfer window, even though clubs at the lower end of the English football pyramid are still in danger of folding because of fans having not yet been allowed to get the turnstiles moving again.
Click to play
Tap to play
The video will auto-play soon8Cancel
However, Premier League supremo Masters has defended top-flight clubs’ decision to spend big over the summer in an attempt to bolster their squads for the 2020/21 campaign.
“The Premier League is the most competitive football league in the world, every club has a plan to be successful and that requires continual investment, if you’re not investing, you’re standing still,” said Masters on Tuesday morning.
“Revenue losses have to be taken in context, they are being financed by external financing or own funding
“I can see the optics of it. Chelsea were a big investor this year, but they haven’t been able to invest for two windows.
“To continue to invest in the pyramid, the Premier League has to be successful, it’s a virtuous circle.”
Chelsea were the Premier League’s big hitters during the summer, with Roman Abramovich, the Blues owner, handing head coach Frank Lampard a small fortune in an attempt to turn the club…