Source: Daily_Mail
Premier League chief backs lavish spending of clubs in January... and anticipates £100m player soon
Premier League boss Richard Scudamore defended the spending of top-flight clubs today after more than ?200million was paid out during the January transfer window.[LNB]Scudamore, the League's chief executive, also said he envisaged the day when a Premier League club would spend ?100m on one player.[LNB]His comments come after around ?210m was spent during the latest transfer window, despite the downturn in the economy.[LNB] Overshadowed: The early January outlays of Aston Villa and Manchester City were completely forgotten by deadline day[LNB]The final frenetic day of wrangling saw huge deals taking place, with Spanish striker Fernando Torres moving from Liverpool to Chelsea for ?50m, becoming the most expensive signing by a British club.[LNB]Torres was replaced at the Merseyside club by Newcastle centre-forward Andy Carroll, who moved to Anfield for ?35m, a record fee for a British player. Chelsea, funded by Russian baire Roman Abramovich's vast wealth, also spent ?26.5m to purchase David Luiz from Benfica.[LNB]But Scudamore defended the level of spending, saying: 'I don't know how we get out of the recession without spending money. [LNB]'At the end of the day, if this was any other industry where aRussian was bringing in ?100m that then got recycled around, that thenallowed Liverpool to spend the money at Newcastle and then allowed allthese other things to happen, if we were in any other industry we wouldbe going 'oh, this is good investment'.[LNB]'The whole point isthat inward investment is generally encouraged. What I don't buy isthat they (the clubs) shouldn't be out there spending in these austeretimes because if Mr Abramovich has the money to spend and he wishes todo that, then in some ways that's the game and that money gets recycledaround.'[LNB] Backing: Premier League chief Richard Scudamore is sure a ?100m player is just around the corner[LNB]Scudamore was speaking at Premier League headquarters in central London as he delivered his response to questions posed by the Department for Culture Media and Sport (DCMS).[LNB]He acknowledged that Monday's transfer fees were eye-catching but denied that the spending was out of control.[LNB]He said: 'There's a point where it becomes - in anybody's mind - ridiculous, but I don't think we are that level.'[LNB]Askedif spending ?100m on a player for the Premier League was ridiculous, hereplied: 'It's ridiculous right here today at the current prices. Can Isee it happening in the future? It's inevitable one day. I think thatit will happen, I don't think we are there at that level yet.'[LNB] World record: The ?80m paid by Real Madrid for Cristiano Ronaldo remains the highest transfer fee ever[LNB]The Premier League had been asked by the DCMS to respond to a series of questions, including whether there was too much debt in the professional game and if Government intervention was justified, and in what form.[LNB]The move follows the financial meltdown of Portsmouth, played out as the club attempted to compete in the Premier League. The club went into administration and received a nine-point penalty which contributed to its relegation.[LNB]Despite Monday's huge transfers, Scudamore said clubs were generally reducing their levels of spending and borrowing.[LNB]The Premier League findings read: 'In general, Premier League clubshave survived the continuing economic turbulence reasonably well.[LNB]'Overall, income has increased, mainly due to the strong interest inthe Premier League in overseas markets, although clubs are having towork extremely hard to maintain attendances and incomes fromhospitality.'[LNB]The responses also revealed that the league did not think Government intervention was necessary under current circumstances.[LNB] Bad example: Fans protest outside Fratton Park at the height of Portsmouth's financial worries[LNB]The league said: 'Government intervention in individual sports is justified when those sports need public money to sustain high standards at the elite level or where public sector action is required to achieve higher levels of participation in sport at the grassroots level.[LNB]'English football at the elite level is not in this position although it is always ready to work with Government to invest jointly in the pursuit of shared objectives, particularly in encouraging grassroots activity.'[LNB]The findings also insisted that the success of the Premier League had not harmed the rest of English football.[LNB]Attendances in the Football League had risen by 59% since the Premier League's inauguration, the findings revealed.[LNB]The other leagues also benefited from parachute payments to clubs relegated from the top flight and other funding streams supplied by the Premier League.[LNB] Sporting Week's inside track on the manic final day of the transfer windowAndy Carroll unworried by pressure of club record ?35m price tag at LiverpoolAngry Aldridge lays into 'fraud' Fernando for abandoning LiverpoolNolan: Liverpool have landed a world beater in my ?35m pal CarrollTorres targets debut goal against Liverpool but Chelsea's ?50m man won't celebrateMartin Samuel: Fair play to Roman Abramovich, his ?75m reaches the needyMadness! Chelsea spend ?75m on Torres and Luiz on the craziest day in English transfer history [LNB] Explore more:People: Andy Carroll, Roman Abramovich, Fernando Torres Places: Newcastle, Liverpool, London Organisations: Football League
