Monday 26 January 2015 17:13, UK
Premier League clubs can land their European transfer targets for a reduced price in January due to a change in currency conversion rates.
The elections in Greece have contributed to a decline in the value of the euro, meaning clubs in Britain - which use the pound - can get more for their money.
On Monday, according to www.xe.com, £1 equated to 1.33 euros.
“We’re told by sources in Spain that Arsenal have agreed a fee for Gabriel of 18m euros,” said Sky Sports News reporter Bryan Swanson. “Had Arsenal paid that figure a couple of weeks ago, on January 7, it would have cost them £14.1m. Today, that same fee is worth £700,000 less: £13.4m.”
Similarly, Chelsea target Juan Cuadrado has a 35m euro buyout clause in his contract. Should the Blues wish to pay that on Monday to sign the striker from Fiorentina it would cost them £26.2m, compared to £26.9m last week. As a result, Chelsea could delay their bid until later this week or even Deadline Day, when the euro may have fallen even further.
The issue applies with players being transferred in the opposite direction, too – although European clubs may be put off by escalating fees.
Chelsea are believed to want more than £22.5m for World Cup winner Schurrle, who is a target for Wolfsburg. Three weeks ago that equated to 28.75m euros, this Monday it is 30.06m euros.
“In the final week of this window it is worth keeping an eye on the exchange rate,” added Swanson. “The value of the euro is dropping by the day.”
