Mark Warburton has moved to allay city fears of a run on sterling.
The former city trader- who gave up a high powered career to drive the team bus for the Watford u-10 side- gave his views against a background of growing uncertainty following victory for the BREXIT campaigners in the EU referendum.
Early losses on the pound and drop in the FTSE have largely been recovered in the aftermath of the vote but the man with a view on everything except cup final defeats gave the Evening Times his views on the referendum follow up.
“The obvious one is the value of the euro – sterling is weaker so it doesn’t buy as much,” Warbo explained.
“At a Premier League level when they’re bidding £35-£40 million for a player it’s costing them £3 or £4 million more for that player so there’s an immediate financial implication there.
“I’m sure the players going to England will demand payment in euros and not in sterling, which is another increase to transfer costs.
“All around it’s going to impact on Premier League clubs but, then again, when you see Crystal Palace bid £31.5 million for a player…
“You’d like to think that (clubs playing home grown players) would be a by-product of it, but I’m not sure. The money in the Premier League goes up again next year to £165 million for finishing last.
“The money is mind boggling and it’s getting stronger and stronger. Don’t criticise it, the brand’s getting stronger – all credit to the Premier League for doing a fantastic job.
“Are they worried about that additional £3 or £4 million? The honest truth of it is I’m not sure they are. It won’t put them off buying the players they want.”
Since moving to Ibrox 13 months ago Warbo’s record transfer fee has been ‘undisclosed’ with the former city trader unable to sell any of his stars for hard cash.
It’s unclear what Warbo’s views are on a company that has a going concern warning in their accounts or is unable to find a Nominated Adviser to allow share trading.
