The continuing falling value of the pound, caused by the seemingly never-ending uncertainty around Britain's planned exit from the European Union, may have led some clubs to eschew transfer dealings involving overseas clubs, according to new data.
Conversely, British clubs negotiating outgoing deals in Euros are benefitting from the current state of affairs by getting more value.
The research around this factor has been compiled by leading UK-based international payments provider Currencies Direct, which notes that 34 players have been bought in from the continent by Premier League clubs, while 23 players have gone the other way.
In the days before the Brexit vote in June 2016, the pound could be exchanged for around €1.30: today, that same one pound coin buys just €1.08.
This means, Currencies Direct claims, if this window's business had been done at the time of the pound's pre-Brexit high, Arsenal would have paid £12m less for Nicolas Pepe, based on his €78m transfer fee (£60m pre-Brexit, £72m today).
By contrast, Man Utd are making an extra £12m on the potential sale of Romelu Lukaku to Inter Milan, according to the data.
This is based on the €80m they are set to receive from the Italian side being worth £61m three years ago, and £73m today.
Currencies Direct also highlighted the trend of players leaving the Premier League to European clubs on free transfers.
"Recent ratcheting up of no-deal rhetoric by the new government - and the slide in the value of the pound that followed - couldn’t have come at a worse time for British clubs, as they conduct their transfer negotiations," commented Amir Khan, Treasury and Senior Corporate FX Dealer at Currencies Direct.
"This summer, we’ve seen 34 players bought in from the continent by Premier League clubs, while 23 players have gone the other way, many of them on free transfers.
"This indicates that clubs are more likely to be out of pocket due to the weak pound, rather feeling any benefit from comparatively cheaper purchases negotiated in Euros."
Last year, Spurs manager Mauricio Pochettino said the falling value of the pound caused by Brexit's uncertainty was a direct factor in the club's decision not to make a single signing.
Among the biggest deals made by British clubs for European players made more expensive by the weak pound are Rodri's £68.2m and Joao Cancelo's £60m moves to Man City, Tanguy Ndombele's £53.8m move to Spurs, Sebastien Haller's £45m move to West Ham and Mateo Kovacic's £40m move to Chelsea.
