With the transfer window closing and Manchester United, Burnley, Newcastle and Manchester City playing, this week is set to be dramatic in the world of Football. An equally exciting week is predicted in Parliament as Teresa May aims to finalise her Brexit deal.
But how could Brexit ever affect Britain’s favourite sport?
In the English and Scottish Premier Leagues there are 332 footballers who could be affected by Brexit. In the English Premier League alone 152 players might not be able to take the pitch for their clubs as they do now. Only 30% of footballers are British and the other 70% may have to get work permits to continue playing for British clubs.
It is a similar story coaching level. Of the 20 English Premier League coaches, 14 aren’t British. With players moving in and out of the UK, the value of sterling against other currencies is, or should be, a major consideration for buyers and sellers.
According to Chamber partner AFEX, sterling devaluations last year cost the English Premier League £89 million in total as it cost more to buy overseas players. If the pound devalues again it will be harder for the English Premier League to retain top overseas players as they don’t want to be paid in a currency that is losing its value.
To find out more about AFEX and how it can help business manage foreign exchange click here.