- Analysis of Premier League’s Summer Transfer Dealings
The Premier League’s broadcast and TV rights ensured the spending powers of its clubs over the course of the summer were fully felt and a lot of business was done in what was a very active transfer window.
The Premier League donned out an astonishing £1.4 billion in player recruitment as 115 players settled into new Premier League surroundings.
The pick of the bunch was Harry Maguire, as Manchester United’s search for a commanding presence at the back led to them splashing out an incredible £80m on the England international. Arsenal surprised fans and created a new buzz of optimism among them with the acquisition of Nicolas Pepe, Lille pocketing a grand £72m for a player involved in over 30 goals last season.
Tottenham infamously failed to sign a single player in the last two transfer windows but were not messing around this time, Daniel Levy and co-sanctioning the purchase of £63m midfield powerhouse Tanguy Ndombele from French side Lyon while Pep Guardiola and Manchester City’s lust for continental success required the extra acquisitions of midfield lynchpin Rodri from Atletico Madrid for £62.5m and the procurement of right back Cancelo for £60m from Italian giants Juventus rounding off the most expensive deals of the summer transfer window.
In total amount of money spent, Manchester United once again top the lot, their bid to return to England’s top table leading to the splurge of a grand total £148m on Harry Maguire, left back Aaron Wan-Bissaka (£50m from Crystal Palace) and Welsh winger Daniel James (£18m from Swansea). Premier league new boys Aston Vila spent the next most, acquiring 12 players for a total outlay of £144.5m in a titanic bid to stay afloat in the Premier League.
Four other clubs surpassed the £100m mark. Arsenal must consider themselves good enough to challenge for top honors this season after spending a grand total £138m on Pepe, £27m on William Saliba, (who they signed and loaned back to Saint Etienne for a season), Gabriel Martinelli for £6m, Dani Ceballos who they acquired on loan from Real Madrid and deadline day arrivals David Luiz (£8m) and Kieran Tierny (£25m) acquired from Chelsea and Celtic respectively.
Up next, Manchester City. As expected, the Citizen bolstered their squad once again after falling short in the Champions league quarter finals by spending £134.8m on Rodri, Joao Cancelo, as well as the signing of Zackary Steffen for £7m and exercising their buy back clause in signing Angelino from PSV for a meagre £5.3m.
Expectations and pressure must be high at Goddison Park this season after Everton splashed a stupendous £118.5m on Moise Kean (27.5m), Jean-Phillipe Gbamin (£25m), Fabian Delph (£9m), acquiring Andre Gomes in a permanent deal from Barca for £22m and deadline day deal of Alex Iwobi for a reported £35m.
Tottenham compensated for a two window no-show by utilizing just over £100m in the dealings for Ndombele, Jack Clarke (£8.5m) and deadline day signing of Ryan Sessegnon from Fulham for £30m and loan signing of Argentine midfielder, Giovanni Lo Celso from Real Betis.
Spending of other clubs in descending order are Leicester (£91m), West Ham (£78m), Newcastle and Wolves both spent £65m each, Brighton (£58.5m), Southampton (£50m), Bournemouth (£45.7m), Watford (£45.5m), Sheffield United (£43m). Chelsea’s transfer ban meant thy could only spend £40m in turning Mateo Kovacic’s loan into a permanent move. Burnley and Crystal Palace are behind them, having spent £15m and £11m respectively.
Liverpool’s decision to bolster their Champions league winning squad with just a total £4.4m outlay would surely be tested as the season progresses while Norwich prop up the table having spent next to nothing, the Canaries having total faith in the side that won the Championship and got them into the big time, with just £1.1m spent.
In terms of outgoings, the Premier League recouped £806.5m from player sales with 291 players sold against £359m cash influx gotten in 2018.
Chelsea top the list of gainers, Eden Hazard’s sale to Real Madrid bringing in £130m and Alvaro Morata’s loan was made permanent by Atletico for £58.3m.
Leicester are next, receiving £80m from Manchester United in a world-record fee for a defender for Harry Maguire’s move, United themselves recouping £74m from player sales. Others include Everton (£60m), Manchester City (£58.1m), Arsenal (£55.5m), Crystal Palace (£50m), Bournemouth (£36.5m), West Ham (£33.25m), Newcastle (£31.7m), Tottenham (£29.7m), Liverpool (£28.82m), Southampton (£26m), Watford (£18.2m), Burnley (£8.5m) and Wolves receiving £3m in player fees.
Dan Jones, a partner Sports Business Group at Deloitte feels that with this level of net spend and the Premier League broadcast right values, wages would increase at a greater rate than revenue, returning a wages to revenue ratio of over 60%.
He said “But this does not signal major financial concerns because Premier League clubs collectively generated pre-tax profits of £426m in 2017-18, while net spend as a proportion of revenue of 12% is at its lowest since 2012.”
Deloitte has, however, predicted that La Liga clubs could still overtake the total money spent by the Premier League as their total spending currently sits at £1.1bn with Real Madrid, Barcelona and Atletico Madrid responsible for as much as two thirds of that figure alone. With the Spanish transfer window not closing until September 2 and Barca’s persistent interest and pursuit of Neymar, they could be well on their way to shattering that record figure.
Npower News Today: Npower Salary Update, Npower Latest News on Permanency
Latest Npower News Today: Npower Salary Update and Npower Latest News on Permanency
The Federal Government continues to engage private businesses and organisations on the absorption of exited batch A and batch B of the Npower program.
The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Farouq, disclosed this in Abuja.
On continuity and sustenance, the Federal Government allocated N420 billion to Npower and other social investment programmes in the 2021 proposed budget before the National Assembly.
President Muhammadu Buhari also made mention of it in his last speech regarding the #EndSARS protest.
Buhari said, “In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programmes, while N20 billion has also been set aside for the family homes and our Social Housing Programme.”
Speaking on unpaid exited Npower beneficiaries of batches A and B, the minister said “the ministry has directed that opportunity be given to the affected beneficiaries to verify and re-validate their eligibility so that qualified beneficiaries can be paid for their participation in the N-Power Programme.
“Beneficiaries are hereby directed to report to their State Focal Persons immediately with their bank account details including bank statements from March 2020 to date, NYSC Discharge Certificates, birth certificates and other related screening documents.
“The deadline for verification is October 13, 2020. Beneficiaries who fail to attend the verification exercise will forfeit their stipends.”
The fresh verification has now closed, however, the list of the successful candidates for Batch C would be announced soon according to the minister while the Federal Government continues to work on permanent placement for exited Npower beneficiaries.
On fake Npower news flying across social media, Rhoda Ishaku Iliya, the Deputy Director Information of the ministry, said the attention of the ministry has been drawn to series of fake news trending on social media.
She said “the attention of the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development has been drawn to the fake news trending on social media that President Muhammadu Buhari will broadcast to the nation the absorption of N-Power Volunteers Batch A, into the Federal Civil Service,” the statement reads.
“The Ministry is hereby calling on the public to disregard the message and consider it as fake news. Any information on N-Power or the National Social Investment Programme will be issued through the appropriate Federal Government channels.”
Soldiers, Police Battle Hoodlums to Prevent Looting of Computer Village
Soldiers and Police Battle Hoodlums Trying to Loot Computer Village
Hoodlums that hijacked the #EndSARS protest and turned it into a broad day robbery have continued to attack business districts, offices and properties of known establishments to loot and destroy years of labour despite the negative impacts of COVID-19 on these businesses.
Soldiers that were later joined by the Nigerian Police Force have been trying to repel hoodlums looking to break into computer village in Ikeja, Lagos State since the #EndSARS protest was hijacked.
According to residents and business owners contacted, the armed looters are still making an attempt to overpower security agents knowing there are valuables in the shops.
“Right now they are still making an attempt (to overpower security agents) and considering the sensitivity of the business that we do, we sell very valuable commodities and they understand the liquidity of these products,” said Adeniyi Ojikutu, president, Computer and Allied Products Dealers Association of Nigeria (CAPDAN) said on the phone.
Ojikutu said the hoodlums, who were more than 500 in number, had shot in the air when they were discovered and remained close by for an opportunity to eventually break into the largest computer, mobile devices and ICT accessory market in Africa.
Also, because computer village is within close proximity to the Lagos State University Teaching Hospital (LASUTH), a new BRT station, Jara Mall, the Lagos State Police Command, Lagos State High Court and both the local and international Airports, it becomes imperative to protect it as a break-in by looters may spell disaster for other top establishments in the vicinity.
A resident said ‘Benin Boys’, a group of hoodlums, had earlier tried to invade computer village around 1 am but were prevented by security operatives. However, those that have been making attempts between the morning and afternoon of Friday were the Agege boys.
“The security were using megaphones to shout and warn all of us to stay inside,” said this resident.
Dangote Sugar Refinery Postpones Board Meeting Amid Social Unrest
Dangote Sugar Refinery Has Postponed Board Meeting Scheduled for Today Amid Social Unrest
The management of Dangote Sugar Refinery Plc on Friday said they have decided to postpone the company’s board meeting scheduled to hold today October 23, 2020 to a date they will communicate soon.
The management said the decision was due to the ongoing precarious situation in the country, especially the attacks on various establishments since governor Sanwo-Olu imposed a 24-hour curfew on all parts of the state.
In a statement signed by the company secretary, Mrs. Temitope Hassan, Dangote Sugar Refinery said “Further to our announcement made on October 8, 2020, the Company wishes to notify the Exchange and the investing public that the meeting of the Board of Directors of the Company earlier scheduled to be held on Friday October 23, 2020 to consider the draft unaudited financial statement of the Company for the Q3 ended September 30, 2020 has been postponed in view of the current precarious situation in the country.
“The new date for the meeting will be communicated as soon as normalcy returns. The Closed Period which has already commenced will continue till 24 hours after the filling of the Results.
“No insider of the Company, including its Directors, Employees, Advisers and Consultants and their connected persons may deal directly or indirectly in the Shares of the Company during the Closed Period.
All Dangote Sugar Refinery Plc Insiders have been duly informed.”
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