Football’s record spree fuelled by Abramovich
THE true inflationary impact on English football of Roman Abramovich’s takeover of Chelsea is revealed today by a benchmark study that shows player costs in the professional leagues rising past the £1 billion mark in the Russian billionaire’s first full season of ownership.
Wages and net transfers in the 2003-04 season across the four divisions were £1.049 billion compared with £852 million the previous season, according to Deloitte and Touche’s annual review of football finance. It is the first time that player costs have exceeded £1 billion and is a phenomenon caused by Chelsea’s record spending spree in pursuit of the Barclays Premiership title.