Manchester United are £89.7 million poorer today than they were yesterday after completing the signing of Paul Pogba from Juventus.
The Red Devils set a record for the most expensive deal in history, surpassing the £85.85m Real Madrid paid Tottenham for Gareth Bale in 2013.
But Britain’s recent decision to leave the European Union, which came after a referendum, has had a significant impact on Pogba’s fee.
SIGN UP NOW
Want to become a GMS writer? Sign up now and submit a 250-word test article: http://gms.to/haveyoursay4
It turns out United would have saved some pennies had Britain voted to remain part of the EU.
And, not only that, but Bale would still hold the record had the vote not fell in favour of the leave campaign, who won with 52 per cent of the vote.
There will be some out there who didn’t bother voting, but it’s impossible to escape Brexit. That the referendum has impacted Pogba’s move to United shows just how important a matter it is.
Brexit hurt United's pockets
According to the Mirror, United would have paid £9.5m less if Britain hadn’t voted leave. That’s because the exchange rate today is €1.17 to the pound, according to XE, while before June 23’s referendum it was €1.31.
So United would have only paid Juventus £80.2m, instead of £89.7.
Given that Bale cost Madrid £85.85, the Welshman would still hold the record for being the most expensive player. Unlucky, Gareth. The British public have let you down.
United probably won’t care about the extra £9.5m they’ve spent given that they are among the richest clubs in football. And they have a plan in place to make Pogba a global superstar, including him in all of their commercial activities.
According to The Times, United could make £40m this season alone after seizing 80 per cent of the player’s image rights. Ed Woodward might not have made the brightest decisions during Louis van Gaal’s era but his head appears to be straight with Jose Mourinho around.
Pogba’s arrival takes Mourinho’s summer spending to £157.25m, following the arrivals of Eric Bailly and Henrikh Mkhitaryan. Zlatan Ibrahimovic joined on a free after his contract with Paris Saint-Germain expired.
United have taken spending to unprecedented levels this summer but it’ll all be worth it if Mourinho is lifting the Premier League title in May.