London (AFP) – The Premier League is taking Europe by storm this season but the dark clouds of Brexit threaten the English top-flight’s long-held position as the richest league in world football.
No deal has yet been agreed on the terms under which the United Kingdom will leave the European Union, leading to uncertainty among British businesses.
Despite its international profile, the Premier League is no different, particularly with so much of its success across the globe based on its cosmopolitan collection of players, coaches and owners.
So what could Brexit mean for the Premier League?
Weak pound
The value of the British pound has plunged since the referendum result in 2016, making transfer fees paid to European competitors much more expensive.
Tottenham manager Mauricio Pochettino referred to the weak pound as one of the reasons his side failed to sign any players in pre-season and compared the impacts of Brexit to a car crash.
Football finance experts Deloitte also signalled the weakening of the pound as a contributory factor in Manchester United surrendering top spot in its Football Money League and falling behind Spanish giants Barcelona and Real Madrid.
Restrictions on foreign talent
In backing the Remain campaign in 2016, the Premier League’s former executive chairman Richard Scudamore described leaving the EU as “incongruous” to the league’s commitment to openness.
The global appeal of the competition depends on recruiting the best players, no matter where they are from, and an end to free movement for European players makes that a more onerous task.
“The Premier League is essentially the hub for a constellation of star brands,” Simon Chadwick, professor of sports enterprise at Salford University, told AFP.
“Therefore, any measures that are adopted to restrict the inward flow of overseas talent could ultimately diminish the Premier League’s market positioning, thereby undermining its competitive advantage.”
EU national players, including many who represent South American and African nations at international level but hold EU passports, will have to satisfy much stricter requirements to be handed a work permit.
The current system for non-EU players takes into account international appearances, the transfer fee, proposed wages and recent playing history to determine whether they receive a Governing Body Endorsement (GBE) from the Football Association.
Were these restrictions applied across the board, marquee signings would not be stopped. However, in the ever more competitive transfer market British clubs could be robbed of the opportunity to find hidden gems at the lower end of the market.
from World Soccer Talk https://ift.tt/2CDucuO
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