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Serie A Faces Financial Reckoning As Coronavirus Pushes Transfer Market Spending Back To 2016 Level

Serie A Faces Financial Reckoning As Coronavirus Pushes Transfer Market Spending Back To 2016 Level

The transfer market summer window that closed on October 5 will be a remarkable one for Serie A – Italy’s top-flight soccer league.

For the first time since the SARS-COV-2 outbreak that paralyzed European soccer for over three months, Italy’s most beloved sport was finally able to assess the financial damage brought by the Coronavirus pandemic.

And despite Serie A welcomed stars of the like of former Barcelona midfielder Arthur Melo, SSC Napoli striker Victor Osimhen and former Manchester United Chris Smalling – the financial reality beneath the surface is quite scary.

And unfortunately, Italian soccer is not alone in this crisis.

The general spending on transfer fees in European soccer decreased significantly for the first time in three years, falling back to the 2016 level, a study released by FIFA has found.

The Transfer Market Snapshot June-October 2020 analyzed the latest player transfer market activity, giving an overview of the impact of the COVID-19 pandemic on soccer finance.

The study shows that in 2020, soccer clubs accounted for a total of $3,92 billion in outgoing transfer fees, representing a steep drop of more than 30% in comparison to 2019, when clubs spent a total of $5,8 billion.

To find a similar figure we need to look back to 2016 when the money spent on international summer transfers reached $3,7 billion, while for the same period in 2017, 2018 and 2019 clubs invested over $5 billion each year.

The latest transfer window saw a total of $543,9 million squandered by

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