Cash-happy Premier League football club Manchester City have hit back at criticism after it was revealed that their summer spending equates to just 36% of all Premier League spending, despite the value of English football currency – crazy money – falling significantly.
Paul Rawnsley, director of the sports business group at Deloitte said, “Weak crazy money means that foreign transfers are more expensive so clubs are limiting themselves to just spending silly money on wages, whilst holding back on spending crazy money until the markets improve.”
“Just twelve months ago Sunderland spending £13m on Asamoah Gyan would have been considered just silly money, but thanks to its tumbling value it’s definitely what we’d call crazy money in today’s market.”
“However Manchester City continue to spend crazy money despite its tumbling value, it’s a risky strategy,” he concluded.
A Manchester City spokesperson has defended the spending by highlighting the need to spend big to get the best players.
“If this club is to break into the top four then spending silly money on inflated transfer fees, topped off with ridiculous wages, will simply not be good enough.”
“To get the very best you have to pay obscene transfer fees, and the only way to do that is by spending crazy money.”
He went on to confirm that the club is looking to produce more home-grown players as way of limiting the amount of crazy money that the club spend on future transfers.
“We have a team of scientists working in a laboratory 100 ft below the City of Manchester stadium. They are trying to grow players using the DNA of past internationals.”
However the project has hit a few early teething problems after club scientists revealed that so far they’ve only managed to grow three Carlton Palmers and a Phil Neville.