Nigel Pearson claims that Premier League clubs' increasing focus on using the loan market as an additional revenue stream makes it increasingly hard for Bristol City to justify bringing players in from the top-flight on a temporary basis.
Pearson is heading into his fifth transfer window as Robins manager and is something of an anomaly in the Championship as his 13 senior signings since taking charge in February 2021 have all been permanent deals.
City were the only team in the second tier last season who didn’t bring in at least one loan player and Pearson has previously outlined his reluctance because the previous culture and atmosphere within the dressing room didn’t necessarily make for the best environment for it to be a success.
The last time the club signed anyone on a temporary basis were the arrivals of Steven Sessegnon and Alfie Mawson from Fulham under Dean Holden in September 2020.
Measuring the economic efficiency of a loan is a tricky one because ultimately the borrowing club is responsible for a large proportion of their wages and increasing loan managers in the top-flight are seeking seven-figure fees just for the privilege of having a player for a defined period of time.
Covid-19 decimated the transfer market outside of the Premier League, so outside of free transfers, clubs are increasingly turning to loans as a perceived low-cost alternative to supplement their squad.
In City’s case, as Pearson has sought to bring the club’s wage ceiling down to a more sustainable level, the concept of introducing an individual who would instantly become the best-paid in the dressing room is not conducive to the squad harmony he’s looking to foster.
A situation that would be further complicated by appearance-based contractual obligations to have that individual involved in a certain amount of match squads.
Likewise, the balance of risk against reward has been too great to merit paying an exorbitant fee which is dead money as there is no way the Robins can recoup their investment. Unless, of course, individuals prove to be influential enough to drive the club to promotion and all the riches that brings.
As City have carefully navigated the challenging economic climate of the last two seasons - a symptom, in part, of their previous transfer strategy which has included paying for expensive loans - Pearson has been very selective as to who he’s brought in, although speaking on BBC Radio Bristol he did reveal that he tried to loan two players in January only for the Robins to be quoted too much.
One of those is understood to be Crystal Palace defender Jake O’Brien, who was ready to make the switch from RWD Molenbeek in Belgium to Ashton Gate in the window, but his parent club kept driving the price up. Previous target Reda Khadra of Brighton & Hove Albion, meanwhile, moved mid-season from Sheffield United to Birmingham City.
In the 2022 summer window, City did hold an interest in Aston Villa midfielder Tim Iroegbunam but the England Under-20 international eventually signed for QPR.
“We did do in January, to be honest with you,” Pearson told Geoff Twentyman, when asked about the prospect of loan signings this summer. “It’s just we couldn’t do deals because - and I’ve tried to explain this before - when you’re looking at Premier League clubs and the players they’re looking to loan out, sometimes those players are going to end up being your top earner and that’s something we have to be very mindful of.
“How things have changed with the loan market is quite incredible, really. We did try to bring in a couple of players in January to alleviate our shortness of players in certain areas. And they just weren’t doable - they were too expensive.
“Premier League clubs now, they all have loan players and there is an element of it being more about the finances than player development, which I think is a bit of a shame.
“In the past I've had contact on a manager-to-manager basis and it’s been very clear what the outcomes we’re looking for, for both clubs and the player. But now, of course, it’s changed somewhat and to try and get the right players in is not as straightforward as it used to be.
“It’s always been something that’s been a doable thing or something that we would consider but, actually, I really want as many players in the building as possible who want to be part of us as a club. The loan market will always give you the opportunity to supplement that but it’s not the main thing.”
An obvious counter to the above is that of the four teams to be competing in the play-offs, all four have made influential loan signings over the campaign: Middlesbrough (Ryan Giles and Zack Steffan), Luton Town (Cody Drameh, Marvelous Nakamba and Ethan Horvath), Coventry City (Luke McNally and Callum Doyle) and Sunderland (Amad Diallo and Ellis Simms, before his recall by Everton).
Timing could also be a consideration for Pearson, however, as securing a loan addition usually means having to wait late in the window, as they conduct pre-season, their own transfer strategy and make decisions on young players accordingly, and leaving you at the mercy of the parent club can then impact your own dealings. As City know all too well with their failed pursuits of Arsenal’s Eddie Nketiah prior to and during the 2019/20 season, as an obvious example.
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