For accountants at certain Premier League clubs, there has been no getting away early on holiday this summer. Almost £250m was spent on players in the space of four days at the end of June – more than the entirety of the January transfer window – leading to Sunday 30 June being described as an unofficial transfer deadline day as a scramble took place in order to balance the books and be compliant with profitability and sustainability rules (PSR).
The most eye-catching business was undoubtedly the number of transfers that took place between six clubs who are thought to have been most in danger of exceeding the permitted losses of £105m over a three-year period, starting in July 2021. Aston Villa, Chelsea, Leicester and Newcastle, plus Everton and Nottingham Forest, both of whom were handed points deductions by the Premier League last season after transgressing PSR rules, were all especially active in the transfer market ahead of the deadline that marked the end of the accounting period in which clubs finances are assessed.
