football transfer review 2014 by prime time sport eng

1

Madrid-Spain,

September 5th 2013-

2

1. Technical sheet

2. Summer transfers window 2013/14

3. Squads review La Liga

4. Barça vs Real Madrid

5. Conclusions

6. Annexes:

- European Football Finances

- Tables

- About Prime Time Sport

Football Transfer Review 2014

3

About Football Transfer Review

Content

Mission

Football Transfer Review by Prime Time Sport provides

relevant data and insightful and independent analysis on the

variables that influence squad designs and player transfers at

main European Clubs, with special focus on Spanish La Liga

• 2 releases published every year, related to Summer and

Winter transfer windows

• Combines content produced by Prime Time Sport and

content from other relevant football industry studies

• The objective is to combine the available data in a way that

helps to come-up with insightful analysis, rather than the

publication of the information itself

• Addressed to both football industry professionals and those

that follow it with special interest

4

Technical sheet

Team

Specifications

• Data included refer to main division of Spanish La Liga and the other top 4 European

leagues (English Premier League, Italian Serie A, German Bundesliga and French Ligue 1)

• Transfer figures include guaranteed amounts only

• It includes player transfers that took place until September 2nd 2013

• Player loans with purchase obligation are accounted as a transfer at the time of effective

player exit (examples: Ibrahimovic to AC Milan in 2010/11; Pedro León to Getafe in

2011/12)

• Transfer figures are gross of agent fees or revenue share with other stakeholders

• It is considered that teams where players are landing have paid for transfer fees, regardless

of the participation of other investors

• Transfer fees paid on managers have not been taken into consideration (Carlo Ancelotti to

Real Madrid)

• Squads review includes only players registered as first team members

• Sign-up means new player arrivals (not total number of registered players) and Exit means

players leaving a team (either on loan or because of contract expiration)

• Director: Bruno Batlle

• Analyst: Aleix Piqué

• Collaborates: ESADE Business School

5

1. Technical sheet




5. Conclusions

6. Annexes:


- Tables



6

1. Background

2. European football

3. La Liga

Summer transfers window 2013/14

7

Background

Europe

• Implementation of UEFA Financial Fair Play (FFP) regulation continues and

is taken into account both by big and smaller teams. FFP will not allow to

participate in European competitions the teams with more than 45mio€ of

accumulated losses during 3 seasons until 2014/15.

• Appearance of a new heavy spending teams (Monaco) along with loss of

spending power of others (Anzhi).

• New 2014/16 TV deals in the Premier League and 2013/15 in UEFA

Champions League has increased prizes for participating teams by 57%

and 20% respectively

• Majority of teams (with exception of big 2) have little chance of further

increasing revenues under current financial climate

• As a result, income opportunities are almost restricted to selling the best

players and continue to fight for the implementation of a new TV value

distribution model.

• Spanish Professional League (LFP) is closely monitoring clubs finances

and must approve business plans.

• Most clubs have agreed long term debt payment plans with Tax office,

which severely impacts their ability to splash cash

Spain

8

1. Background


3. La Liga


9

Player acquisition spending- top 5 European

leagues

Mio€

1.713 1.855

1.322

1.723 1.544

2.154

2008/09 2009/10 2010/11 2011/12 2012/13 2013/14

+40%

Top 5 European Leagues combined investment grew by 40% to 2,2bio€,

highest amount ever, despite Financial Fair Play and economy downturn

10

Player acquisition spending- top 5 European

leagues

510

400

470

245 230

435

327

262

140 157

553

465

360

194 151

617

335

128

226 238

731

402 388 375

258

2009/10 2010/11 2011/12 2012/13 2013/14Mio€ +18%

+303% +66%

All big European leagues have experimented significant expenditure growth, with Premier League,

Ligue 1 and Bundesliga reaching highest levels ever. Premier League has been the market driving

force thanks to fresh an increased money from new TV contracts.

La Liga experimented the highest growth led by Gareth Bale signing by Real Madrid

+20%

+8%

11

% of total investment by top 4 in each league

Mio€

89,3%

79,5%

63,6% 55,5%

49,7%

Real Madrid (47,3%)

FC Barcelona

Sevilla FC

At.Madrid

SSC Napoli

AS Roma

Fiorentina

Juventus

B. Munich

B. Dormund

Wolfsburg

Shalke 04

AS Monaco (44,3%)

PSG

O.Marsella

Saint-Etiene

Investment stays monopolized by few teams with high revenue generation potential,

wealthy owners or significant income from sales of best players

Tottenham

Man.City

Chelsea

Liverpool

12

5 year accumulated investment

top 5 leagues

Mio€ 2.846

1.929

1.608

1.180 1.034

* Winter window transfers not included

13

Player sales- Top 5 European leagues

Mio€

1.060

1.344 1.146

1.579

2010/11 2011/12 2012/13 2013/14

+38%

Total income from players sales recuperates growth trend to 1,6bio€ (+38%)

and reaches the highest level since 2010/11 season

14

Player sales- Top 5 European leagues

€Mio

287 269

187 176

141

290

438

336

152 128

183

365

299

164 135

480

410

261 228

200

2010/11

2010/12

2012/13

2013/14

La Liga makes close to half billion € in player sales, its highest level ever and highest amount in

Europe. All European leagues -except English Premier League-

experimented increased income from player sales

+262%

-13%

+39%

+12%

+48%

15

€Mio

248

-36

16 58

-24

217

42 23 27

70

318

62 103

-30 -55

470

147

58

-8

-92

2010/11

2011/12

2012/13

2013/14

Net spending- Top 5 European leagues

Premier League dominance becomes even stronger when deducting income from player sales,

with a net investment still of 470mio€. On the other extreme, Spain continues to lose talent

and experiments a negative net investment of 92mio€.

16

# of player signings- Top 5 European leagues

Nº. of players

307

97 120 95 101

59

58 23 35 19

Loans

Signings

366

155 143

130 120

One more year, Serie A shows the highest number of player arrivals

17

# of player exits- Top 5 European leagues

Nº of players

251 158 155 140 127

356

100 50 56 41

Loans

Transfers

607

258 205 196 168

# of exits confirms Serie A as the league with highest players circulation.

More than half of exits (52%) have been in loan format

18

Nº.of players

-285

-75 -94

-54 -38

-250

-115

-54 -56 -59

-247

-113

-56 -54 -55

-242

-115

-66 -50 -48

2010/11 2011/12 2012/13 2013/14

Net # signings vs exits- Top 5 European leagues

For the 4th consecutive season all leagues have experimented a net players reduction as

teams continue to optimize squad wages costs

19

183 166

122 111 107 87 78 67 67 66

Real Madrid AS Monaco Tottenham PSG Man. City Napoli Chelsea DinamoMoscú

ShakhtarDonetsk

AS Roma

Mio€

Real Madrid is back to top spending position 2 years later after by investing 183mio€ (101 in Gareth

Bale). Under new Russian ownership, AS Monaco reaches 2nd position by spending 166mio€.

Tottenham takes advantage of Bale sale to join top 3. Top 8 of clubs represents 60% of total

investment of European football

Top 10 spending ranking

20

Mio€

147

100 95

70 65 65 64 52

43 43

PSG Chelsea Zenit B. Munich Tottenham M. United M. City Juventus Arsenal Inter

Top 10 spending ranking 2012/13

21

55

87 93 86

44 60 62 57

86

33 23

30

147

64

100

70

33 43

65 52

43

24

183

111 107

78 62 57 50

34 32 29 26

2011/12

2012/13

2013/14

Mio€

Top European teams spending ranking

Real Madrid lead the spending ranking after 2 years of low investment.

PSG stays in the podium after another year of high expenditure to confirm its ambitious project.

Real Madrid (+600%) , FC Barcelona (+212) and Man. City (+67%) have spent more after 3 years

in a row decreasing its expenditure

22

Top 5 spending clubs in each league

Tottenham 121,8

Manchester City 106,5

Chelsea 77,8

Liverpool 56,0

Arsenal 45,0

Real Madrid 182,5

FC Barcelona 57,0

Sevilla FC 33,9

At. Madrid 33,0

Villarreal CF 16,0

SSC Napoli 86,9

AS Roma 66,2

AC Fiorentina 38,3

Juventus 32,1

Inter 28,8

Bayern Munich 62,0

Borussia Dormund 50,0

VfL Wolfsburgo 26,7

Shalke 04 25,0

Bayern Leverkusen 21,4

AS Mónaco 166,2

PSG 110,9

O. Marsella 41,7

Saint-Etienne 15,5

Toulouse 8,6

Mio€

23

611

549

370 348 331

274 227 227

197 191

141

Accumulated 5 year spending of top teams

Mio€

Real Madrid (611mio€) is the team with the highest combined expenditure

in the last 5 years, followed by Manchester City (549mio€) and PSG (370)


24

Mio€

140 128

105 104

82 78 74 71 68

45

Anzhi Tottenham Roma R.Madrid Sevilla At.Madrid Porto Napoli Shakhtar Lille

Top 10 teams in player sales income

Anzhi is the European leader in player sales income after reduced ownership commitment.

Tottenham (128mio€) reaches 2nd position thanks to Gareth Bale sale to Real Madrid.

25

Mio€

Top 10 teams in player sales income 2012/13

81 71 69 67

56

41 40 40 39 39

Porto Benfica AC Milan Tottenham Arsenal Genoa At. Bilbao Lille Villarreal RealMadrid

26

17 5 12

3

24 18

70

23 33 25

11

39

0 17

3 0

69 56

24 35

10 11

104

41 37 29 28

16 12 9 7 3 0

2011/12

2012/13

2013/14

Mio€

Top European teams player sales ranking

Real Madrid is the team with highest income from player sales among the top ones.

Bayern Munich, Juventus and PSG get important revenues from sales after 2 years

of failing to reach high figures

27

Tottenham 127,7

Everton 39,4

Liverpool 30,8

Sunderland 22,2

Arsenal 11,6

Real Madrid 103,5

Sevilla FC 81,9

Atlético Madrid 78,0

Valencia CF 41,7

Real Sociedad 39,0

AS Roma 91,9

SSC Napoli 70,7

AC Fiorentina 40,0

Juventus 36,7

Udinese 26,2

Borussia Dormund 44,1

Bayern Munich 41,0

Bayern Leverkusen 34,7

Werder Bremen 12,9

Mainz 05 11,3

Lille OSC 45,0

PSG 28,5

O. Lyon 24,5

Saint-Etienne 23,0

Toulouse 12,7

Mio€

Top European teams player sales ranking

28

260

212 200 193

143 142

116 114

81

58

36

Accumulated 5 year player sales of top teams

Mio€


Real Madrid gets confirmed as the most active team in the market having also the highest

accumulated sales in the last 5 years.

Inter Milan and AC Milan follow in 2nd and 3rd position

29

Top European teams net investment ranking

Mio€

70 84

38 61

-8

46 36

0

39 5

44 40

144

-9

90

-13

54 33

8

70

-45

36

98 82 79 75

38 34 29 22 21 10

-5

2011/12

2012/13

2013/14

Manchester City is the team with highest net investment this season.

PSG keeps signing players without selling much for the 3rd year in a row and gets 2nd position.

Juventus doesn’t invest the income from player sales and is the only top team with mores sales

than spending in players

30

Accumulated 5 year net investment of top teams

Mio€

435 351 333

274 192 161 146

84

-2 -16 -59

* Winter window deals not included

31

European club ranking in # of signings

Players 84

26 24 23 20 17 17 17 17 15

Parma Genoa ChievoVerona

HellasVerona

Sassuolo Livorno Inter Milan Udinese Monaco Roma

Italian teams top ranking of number of player arrivals and exits

32

European club ranking in # of exits

Players

120

44 37 35 33 32 30 28 28 28

Parma Genoa Udinese Milan Juventus ChievoVerona

Bologna Roma Inter Milan Napoli

33

Top 10 most expensive players 2013/14

€Mio

101

65 60 57 45 45 40 39 38 37

Bale Cavani Falcao Neymar Özil James Fernandinho Illarramendi Willian Higuaín

Bale signing is the most expensive of the summer and in football history.

The average cost of signings in the top 10 (53,1mio€) is 41% higher than last season

Gotze

34


€Mio

55

42 40 40 40 40

32 31 30 26

Hulk Thiago Silva Javi Martínez Witsel Lucas Hazard Oscar Van Persie Modric Lavezzi


35

Average value Top 10 European signings

last 5 years

44

26

32

38

53

2009/10 2010/11 2011/12 2012/13 2013/14

Average value of top 10 signings in 2012/13 is 53mio€, setting a new record

Mio€

36

Top 5 most expensive players in each league

Özil 45

Fernandinho 40

Willian 38

Fellaini 32

Soldado/Lamela 30

Bale 101

Neymar 57

Illarramendi 39

Isco 30

Guilagovi 10

Higuaín 37

Strootman 17

Mario Gómez 16

Benatia 14

Ogbonna 13

Götze 37

Mkhitaryan 28

Thiago 25

Luiz Gustavo 18

Aubameyang 13

Cavani 65

Falcao 60

James 45

Marquinhos 31

Moutinho 25

Mio€

37

Ranking most expensive transfers ever

101 94

72 66 65 65 60 60 59 57

Bale C.Ronaldo Zidane Ibrahimovic Kaka Cavani Figo Falcao F.Torres Neymar

€Mio

Half of the top 10 most expensive transfers ever have been made by Real Madrid.

Also 4 of the top 10 transfers took place this summer (Bale, Cavani,

Falcao and Neymar)

38

Usage top 10 European signings 2012/13

91%

77% 67% 64% 61% 58% 56% 54% 53%

21%

Van Persie Hazard Oscar Modric Lavezzi JaviMartínez

ThiagoSilva

Witsel Hulk Lucas

% Minutes

Van Persie is the most profitable signing (number of minutes).

Chelsea’s signings (Hazard and Oscar) are both at the top of the list

*Winter window transfers not included. Calculated on domestic league minutes

**Was transferred in summer but incorporated to the team in winter

**

39

1. Background


3. La Liga


40

Total player acquisition spending- La Liga

Mio€

270

470

262

360

128

388

2008/09 2009/10 2010/11 2011/12 2012/13 2013/14

+303%

La Liga has tripled investment in new players to almost 400mio€,

2nd largest ever, as a result of reinvestment of income from sales

and extraordinary signing of Gareth Bale by Real Madrid

41

Player acquisition spending- La Liga

Mio€

470

94

262

111

360

245

128

65

388

148

Total Liga Liga excl. FCB & RM

2009/10

2010/11

2011/12

2012/13

2013/14

Signings by Barça and Real Madrid accounted for 62% of La Liga total

(49% in 12/13, 32% in 11/12, 57% in 10/11, 80% in 09/10)

42

New players investment R. Madrid vs

FC Barcelona

Mio€ 265

112

78 73 55 60

30 33

183

57

2009/10

2010/11

2011/12

2012/13

2013/14

Both Real Madrid and Barça recuperate growth trend after 3 consecutive years

of decline. Season 2009/10 expenditure by Real Madrid is still its highest ever

43

New players spending by team

Mio€

55 60

11

71

22 32

7 2 3

58

8 8 1

30 33

13 1 3

23

6 3 2 4 2 6 1

183

57

34 33

16 15 14 6 5 5 3 3 3 1 1 1

2011/12

2012/13

2013/14

Sevilla and Atlético Madrid follow the 2 giants by partially reinvesting income

from players sales. 4 teams did not spend any money and 10 spent 3mio€ or less

44

Top 10 on 5 year accumulated investment

Mio€


Real Madrid accounts for 38% of total La Liga players investment

of the last 5 years and has spent 82% more than FC Barcelona

611

335

136 103 96 79 57 30 26 19

Real Madrid FC Barcelona At.Madrid Valencia Sevilla Málaga Villarreal At.Bilbao Getafe Granada

http://en.wikipedia.org/wiki/File:Granada_CF_logotipo.svg

45

€Mio


Bale and Neymar signings joined top 10 of most expensive signings ever. 5 of top 10

signings in Spain were made by Real Madrid or FC Barcelona (vs 3 at previous season)

101

57

39 30

10 8 8 8 7 7

Bale Neymar Illarramendi Isco Guilavogui Beñat Pabón Gameiro Bacca Alderweireld

Baptistao

46


€Mio

30

19

14

8 6 5 4 4 4 4

Modric Song Jordi Alba Canales Cissokho El Arabi Kondogbia Vela Pereira GagoD.López

47

Total value of player sales- La Liga

Mio€

245 286 290

183

480

2009/10 2010/11 2011/12 2012/13 2013/14

Spanish La Liga sold players for 480mio€ at 13/14 summer

transfer window, the highest amount in European history

48

Player sales by team

Mio€

17 14

85

39

24 18 20

5 2 8

39

18

30

1

29

1 6 3 4 5 2

40

104

82 78

42 39 37

28

13 12 9 8 7 6 6 4 4 1 1

2011/12

2012/13

2013/14

Real Madrid is also the most active team in player sales by releasing Ozil, Higuain, Albiol and

Callejón. FC Barcelona is only 7th (Thiago, Villa & Fontás). Sevilla, Atlético Madrid and Valencia,

forced to sell their best players

49

Top 10 on 5 year accumulated player sales

Mio€

Financial constraints and availability of top players have put At. Madrid and Valencia very close to

Real Madrid over a 5 year period. FC Barcelona traditionally more reluctant to sell its best players


260

220 215

145 122

93 67 65 55

40

Real Madrid At.Madrid Valencia FC Barcelona Sevilla Villarreal Málaga Getafe Espanyol At.Bilbao

50

Sales abroad of national players

Mio€

57 47

17

74 79

115

139

2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14

Spanish players exports grew for 4th consecutive seasons to 139,

the highest number ever

*Includes transfers of Liga BBVA and Liga Adelante

51

Total net spending- La Liga

€Mio

225

-24

70

-55 -92

2009/10 2010/11 2011/12 2012/13 2013/14

The highest ever sales at La Liga resulted in a negative net investment of 92mio€,

also the highest ever. La Liga moving from “buying” into “selling” type of league

52

Net players spending by team

€Mio

79,0

28,9

15,3 10,0

2,8 0,2 0,0

-0,9 -1,0 -3,0 -4,0 -6,1 -7,0 -11,7 -12,8

-27,3 -33,5 -36,0

-45,0 -48,0

Real Madrid and FC Barcelona clearly lead net investment ranking. 13 of 20 teams had higher

sales than investment. Most teams did not reinvest their significant income from players sales

53

Net players spending by team 2012/13

€Mio

33,0

12,5

4,5 3,8 3,3 3,0 2,2 1,5 1,0 0,0

-2,6 -3,6 -3,8 -4,7 -5,3 -6,8 -8,5

-17,0

-29,3

-37,5

54

# of signings- La Liga

Nº of players

95

53 34

58

31

28 36

37

58

37

58

63

39

2009/10 2010/11 2011/12 2012/13 2013/14

Loans

Signings

126 122

57

147

Signings 0€ 134

The number of new players is the highest of last 5 years. As usual,

there is a significant presence of loans and signings at 0 cost

* Data of free signings at season 2009/10 not available

155

55

# of exits- La Liga

Nº of players

133 126 146 133

155

46 50

58 55

51

2009/10 2010/11 2011/12 2012/13 2013/14

Loans

Signings

176

204

179 188

The number of exits is the highest in recent years.

In average, every team released 10 players

205

56

Net # of signings vs exits- La Liga

Nº of players

-53 -54 -57

-54 -50

2009/10 2010/11 2011/12 2012/13 2013/14

For the 5th consecutive season, La Liga teams took advantage

of the transfer window to reduce the number of players in the pay roll

57

# of signings by team

Nº of players

14

10

0

9

11

0

13

9

8 8

13

6

1

5

2 2

6

12 12

0

8

12

0 0

4 4

7 7 7

6 6 6

3

2

4

2

14

13 13 13

12

9

8 8 8 8

7 7

6

5 5 5 5 5

3

1

2011/12

2012/13

2013/14

Sevilla has made the biggest squad turnaround of La Liga, with 14 new players and 19 exits.

Granada and Rayo Vallecano traditionally among the most active teams.

FC Barcelona repeats as team with lowest number of new players

*does not include registration in first squad of home grown players

58

# of signings by team and category

9

2

0 1

3

1 0

5 6

5

1

4 3 3

2 3

4 5

1 1

5

5

5

7 2

1 4

1 0

1

1

1 2

0

0

1

0

6

8

5

7

7 4

2 2 2

1 0 0

2 2 1

0

Signings 0€

Loans

Signings

Nº of players

59

Nº of players

14 14 15

10 10

14

10

7

9 10

9

12

14

8

6

22

11 10

6

12

10 10 10

8 9 9

11 12

5

3

14

5

22

19

14 13

11 11 11 11 11 10 10

9 8 8

7 7 7 6

5 4

2011/12

2012/13

2013/14

13 teams have released 9 players or more. Granada leads releases ranking again (22).

Real Sociedad only saw 4 players leaving the club

# of exits by team

60

Net # of signings vs exits

Nº. of players

3

2 2 2

1

-1 -1 -1 -1

-3 -3 -3 -3

-4 -4

-5 -5

-6 -6

-9

Granada repeats has the team with highest reduction of players in the squad.

The majority of teams (15 out of 20) have now less players in the pay roll

61

Continuity of signings of last season

100% 100%

71%66% 66%

62% 60% 60%55%

50%

42% 40% 40%33% 33%

2/2 2/2

2/3 3/5

8/13 3/5

5/9

5/12 2/5

2/3 5/7

2/5 2/6 1/3

3/6

FC Barcelona and Real Madrid, with lower number of signings,

are the only teams keeping all signings from previous season

*Includes transfers made at winter window

62

1. Technical sheet




5. Conclusions

6. Annexes:


- Tables



63

% of non national players by league

63,2%

44,9%

49,7%

40,3% 37,9%

63,3%

47,3% 48,6%

39,4% 38,8%

64,0%

52,2% 49,2%

41,1% 36,7%

69,6%

54,4%

45,8% 45,1% 40,2%

2010/11

2011/12

2012/13

2013/14

Non-national players

La Liga is still the league that has the highest % of national players.

English Premier League the lowest

64

Age

Average age of players in squad

28,5 28,428,1 27,9 27,7

26,7 26,7 26,7 26,6 26,526,2 26,0 25,9 25,8 25,7 25,7 25,6 25,5 25,4 25,4

65

17 17

14

1110

8 87

65 5

43

2 2 21 1 1

0

Players

Home grown players by squad

* Players having participated in any youth teams of the club, including reserves (B teams)

66

Average stability of squad- Top 10

3,8

3,1 3,2

2,4

1,7

1,2 1,1

1,3

3,7 3,5

3,3

3,0

1,7

1,3 1,5

1,7 1,6 1,6

4,3 4,2

2,8 2,7

2,3 2,3

2,0 1,7 1,7 1,7

FC Barcelona R.Sociedad At.Bilbao Real Madrid Osasuna Espanyol R.Valladolid Celta Málaga Getafe

2011/12

2012/13

2013/14

Barça repeats as the team with most stable squad

Years*

* Average time of stay in the club

67

Average stability of squad- Bottom 10

Years*

1,2

1,6

0,8

2,0

1,0 1,0 1,0 1,1

1,8

1,3

2,0

1,2 1,1

0,8

1,43 1,41 1,4

1,2 1,18 1,1

0,91 0,88 0,87 0,75

At.Madrid Villarreal Valencia Granada Almería Sevilla Elche Betis Levante Rayo

2011/12

2012/13

2013/14

* Average time of stay in the club


68

1. Technical sheet




5. Conclusions

6. Annexes:


- Tables



69

Players movement

2012/13 2013/14 2012/13 2013/14

Revenues* (mio€) 470 N/A 517 N/A

Profit/Loss* (mio€) 35,9 N/A 32,4 N/A

Signings investment (mio€) 33 57 30 183

Player sales (mio€) 0 28 39 104

Net signings investment

(mio€) 33 42 -8,5 79

# of signings 2 1 2 5

# of exits 3 7 9 8

Average cost per new player 17 57 15 37

Continuity players signed

last season 2/2 2/2 4/5 2/2

Most expensive signing

(mio€) Song (19) Neymar (57) Modric (30) Bale (101)

* Forecast Real Madrid 2012/13 y FC Barcelona 2012/13

70

Players movement- accumulated 5 years

2009/14 2009/14

Signings investment (mio€) 335 611

Player sales (mio€) 143 260

Net signings investment (mio€) 192 345

Most expensive signing (mio€) Ibrahimovic (66) Bale (101)

Most important sale (mio€) Touré (30) Ozil (45)

* Seasons 2009/10, 2010/11, 2011/12, 2012/13 y 2013/14

71

2013/14 2013/14

Nº players in First team 25 23

Average age 26,7 25,7

Average stability of squad

(Average time of stay in the

club) 4,3 2,7

% Foreign players 36% 48%

Nº Nationalities 6 7

Home grown players by squad 17 8

New home grown players by

squad 2 4

U21 Players 2 6

Squad review

72

# of signings- La Liga

2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 20010/11 2011/12 2012/13 2013/14

Van

Bronckhorst

Larsson

Sylvinho

Belletti

Edmilson

Giuly

Deco

Eto’o

Van

Bommel

Ezquerro

Thuram

Gudjohnsen

Zambrotta

Y.Touré

Abidal

Milito

Henry

Pinto

Piqué

Henrique

Keita

Cáceres

Hleb

D.Alves

Maxwell

Keirrison

Chygrynskiy

Ibrahimovic

Adriano

Mascherano

Villa

A.Sánchez

Cesc

J.Alba

Song

Neymar

73

8,8

1,5

7,0

2,2

9,5

0,0 0,0

20,8

0,0

26,0

Homegrown player sales FC Barcelona 2004-2014

2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14

Luis García

(8,75)

Sergio Garcia

(1,5) Gabri (0) Motta (2)

G. dos

Santos (6) Jorquera (0)

V.Sánchez

(0)

Thiago

(25)

Santamaría

(0) Ros (0) Damià (1) ToniCalvo (0,2) Oleguer (3) O.Romeu(5) Fontàs (1)

Tortolero (0) Fernando

Navarro (6) Crosas (0,5) Jeffren (3.75)

Bojan (12)

Mio€

74

1. Technical sheet




5. Conclusions

6. Annexes:


- Tables



75

Top 5 European Leagues combined investment grew by 40% to 2,2bio€, highest amount

ever, despite Financial Fair Play and economy downturn.

All big European leagues have experimented significant expenditure growth, with Premier

League, Ligue 1 and Bundesliga reaching highest levels ever. Premier League has been

the market driving force with 731mio€ expenditure, thanks to fresh an increased money

from new TV contracts. La Liga experimented the highest growth led by Gareth Bale

signing by Real Madrid.

Investment stays monopolized by few teams with high revenue generation potential,

wealthy owners or significant income from sales of best players. Top 8 spending teams

accounted for 60% of total investment in Europe.

Total income from players sales recuperates growth trend to 1,6bio€ (+38%) and reaches

the highest level since 2010/11 season. Player sales, along with increased money from

new TV contracts in England and higher prizes for Champions League participation have

helped to finance investment in new players acquisition

Conclusions FTR 2014- summer (1 of 5)

76

La Liga made close to half billion€ in player sales at summer transfer window, the highest

amount ever in football history globally, confirming Spain as the upcoming power in talent

production and development. All European leagues -except English Premier League-

experimented increased income from player sales.

Premier League dominance becomes even stronger when deducting income from player

sales, with a net investment still of 470mio€. On the other extreme, Spain continues to

lose talent and experiments a negative net investment of 92mio€. Therefore, for 2

seasons in a row, income from sales was higher than investment in new players

Italian Serie A is once again the most active in terms of new player arrivals (366), more than

doubling Spanish La Liga which is second with 156 new players. Loans and free signings

continue to be a very popular signing format and for 4 seasons in a row all leagues

experimented more player exits than arrivals

In terms of clubs, Real Madrid is back to top spending position 2 years later after by investing

183mio€ (101 in Gareth Bale). Under new Russian ownership, AS Monaco reaches 2nd position

by spending 166mio€. Tottenham takes advantage of Bale sale to join top 3.


77

Anzhi from Russia is the European leader in player sales income after reduced ownership

commitment. Tottenham (128mio€) reaches 2nd position thanks to Gareth Bale sale to

Real Madrid. 3 La Liga teams (Real Madrid, Sevilla and Atlético Madrid) among top 10

teams in player sales.

Real Madrid is the undisputed driving force in the European transfers market of the last 5

years, as it made both the highest accumulated expenditure (611mio€) and the highest

income in player sales (260mio€). Manchester City made the most significant net

investment (acquisition costs minus sales) with 435mio€ in 5 years.

Bale signing (101mio€) is the most expensive of the summer and in football history. The

average cost of signings in the European top 10 (53,1mio€) is 41% higher than last

season. Real Madrid has made 5 of 10 most expensive signings in European history. 4

signings of this summer have joined historical top 10.


78

La Liga has tripled investment in new players at summer transfer window to almost

400mio€, 2nd largest ever, as a result of reinvestment of income from player sales and

extraordinary signing of Gareth Bale by Real Madrid

Combined signings by Real Madrid (183mio€) and FC Barcelona (57mio€) continue to

concentrate most of the value, accounting for 62% of La Liga total (49% in 12/13, 32% in

11/12, 57% in 10/11. Both Real Madrid and Barça recuperate investment growth trend after

3 consecutive years of decline. Real Madrid accounts for 38% of total La Liga players

investment (610mio€) of the last 5 years and has spent 75% more than FC Barcelona

(348mio€) in that period.

Sevilla and Atlético Madrid follow the 2 giants by partially reinvesting income from players

sales, spending 34mio€ and 33mio€ respectively. 4 La Liga teams did not spend any money

and 9 spent 3mio€ or less

Real Madrid (104mio€), Sevilla (82mio€) and Atlético Madrid (78mio€) are in top 3 positions

of La Liga in terms of player sales income. FC Barcelona, having sold Thiago, Villa and

Fontás is only 7th in the ranking. Real Madrid also leads sales of the last 5 years with

263mio€ income, followed by Atlético Madrid (220mio€) and Valencia (215mio€). During the

last 5 years, Real Madrid has cashed-in 81% more than FC Barcelona in player sales

income.


79

Spanish players exports grew for 4th consecutive season to 139, the highest number ever

(17 in season 2009/10).

The highest ever sales at La Liga (480mio€) resulted in a negative net investment of

87mio€, also the highest ever. La Liga moving from “buying” into “selling” type of league

and experimenting difficulties to keep the talent at home (except for Real Madrid and FC

Barcelona). 13 out of 20 La Liga teams saw their income on player sales beat the

investment in signings

Sevilla has made the biggest squad turnaround of La Liga, with 14 new players and 19

exits. Granada and Rayo Vallecano traditionally among the most active teams. FC

Barcelona repeats as team with lowest number of new players (just Neymar)

Spanish La Liga has the lowest proportion of foreign players (40,2%) among top

European leagues

FC Barcelona has the highest number of home grown players, along with Athletic Bilbao

(17) and the most stable squad (4,3 years stay per player in average)


80

1. Technical sheet




5. Conclusions

6. Annexes:


- Tables



81

Revenue trend top European leagues

Mio€

Source Deloitte Annual Review of Football Finance, June 2013

Big five leagues have experimented revenue growth for the 4th consecutive year, except Ligue1 in

2010/11. Revenue ranking remains unchanged and clearly led by Premier League, followed by

Bundesliga and La Liga.

2.326

1.575 1.501 1.494

1.048

2.479

1.664 1.622 1.532

1.072

2.500

1.746 1.718 1.553

1.040

2.917

1.872 1.765

1.570

1.136

2008/09 2009/10 2010/11 2011/12

82

Club European ranking by revenues

Mio€

Source: Deloitte Football Money League 2013

While we wait for all teams publishing their 2012/13 results, season 2011/12 saw the same teams in

top 6 positions in a ranking lead once again by Real Madrid followed by FC Barcelona

401

366

327

290

245

263

102

197 203 197

439

398

350

323

259 274

153

244

205 225

480

451

367

321

253 251

170

235

154

211

513

483

396 368

323

290 286

257

195 186

Real Madrid FCBarcelona Man.United B.Munich Chelsea Arsenal Man.City AC Milan Juventus Inter

2008/09 2009/10 2010/11 2011/12

83

1. Technical sheet




5. Conclusions

6. Annexes:


- Tables



84

Arrivals & exits La Liga 2013/2014

Equipo Altas €Mio Bajas €Mio

Neymar

Total

57

-57

Fontàs

Abidal

David Villa

Deulofeu

Thiago

Rafinha

Total

1

0

2,1

Ced

25

Ced

28,1

Carvajal

Casemiro

Isco

Illarramendi

Bale

Total

6,5

6

30

39

101

182,5

Carvalho

Callejón

R.Albiol

Higuaín

Kaká

Cheryshev

Adán

Özil

Total

0

9,5

12

37

0

Ced

0

45

103,5

Nelson Valdez

Javi Fuego

Míchel

Oriol Romeu

Hélder Postiga

Dorlan Pabón

Total

3

0

0,4

Ced

3

8

14,4

Tino Costa

Nelson Valdez

Gago

Soldado

Cissokho

Total

7

3

1,7

30

Ced

41,7


José Giménez

Demichelis

Baptistao

David Villa

Roberto

Aranzubia

Alderwireld

Guilavogui

Total

0,9

0

7

2,1

6

0

7

10

33

Falcao

Silvio

Cisma

Rubén Micael

Joel

Rubén Pérez

Pulido

Cata Díaz

S.Asenjo

Pizzi

Roberto

Borja Bastón

Demichelis

Cabrera

Total

60

Ced

0

3

4

Ced

0

0

Ced

6

Ced

Ced

5

0

78

Fontàs

Charles

Nolito

Rafinha

Aurtenetxe

Total

1

1

2,6

Ced

Ced

4,6

Roberto Lago

Iago Aspas

Dani Abalo

Bustos

Jota

Insa

De Lucas

Total

0

8,2

0

Ced

Ced

0

0

8,2

85



Chuli

Steinhöfer

Cedrick

Andersen

Reyes

Joan Verdú

Sara

Jordi Figueras

Dídac Vilà

Juanfran

Rennella

Xavi Torres

Total

0,8

0

0

0

0,9

0

Ced

0

Ced

0

0

2,8

4,5

Cañas

Adrián

Beñat

Pozuelo

Ezequiel

Mario

Agra

Ángel

Casto

Fabri

Rennella

Álex Martínez

J.Pereirea

Total

0

0

8

0,5

Ced

0

Ced

0

0

0

Ced

0

0

8,5

Raúl Baena

Nery Castillo

Mojica

Saúl Ñíguez

Rubén

Galeano

Larrivey

Alberto Bueno

Cueva

Zé Castro

Iago Falqué

S.Fernández

J.Viera

Total

0

0

Ced

Ced

0

0

0

0

Ced

0

Ced

0

Ced

0

Javi Fuego

Baptistao

Piti

A.Domíngez

Casado

Fiménez

Delibasic

Machado

Rafa García

Tamudo

Total

0

7

0

0

0

0

0

0

0

0

7


Beto

Rusescu

Pareja

Jairo

Marko Marin

Vitolo

Bacca

Carriço

Figueiras

Gameiro

Cristóforo

Iborra

Mbia

Cherysev

Total

2

2,5

Ced

2,5

Ced

3,2

7

Ced

1

7,5

2,3

6

Ced

Ced

33,9

Palop

Jesús Navas

Luna

Luis Alberto

Espinosa

Spahic

Del Moral

Ibusuki

Campaña

Negredo

Acosta

Botía

Alexis

Medel

Hervás

Babá

Guarente

Kondogbia

Total

0

17,5

2

8

0

0,4

Ced

0

2

19

0

Ced

0

13

Ced

Ced

0

20

81,9

Bergdich

Alcatraz

Deigo Mariño

Omar

Bermettler

Osorio

Rossi

Total

0,7

0

0

0

0

0

Ced

0,7

Balenziaga

Hernández

Alberto Bueno

Quique

Lázaro

Total

0,5

Ced

0

0

0

0,5

86



Sérgio da Silva

David Barral

Xumeetra

El Adoua

Ivanschitz

Jvai jiménez

Gomis

Nong

Babá

Total

0

0

0

0

0

0

0

0,3

Ced

0,3

Míchel

Munúa

Barkero

Dudka

Iván López

Morales

Juanlu

Roger

Iborra

Total

0,4

0

0

0

Ced

Ced

0

Ced

6

6,4

Balenziaga

Etxeita

Beñat

Kike Sola

Mikel Rico

Total

0,5

0

8

4

2,8

15,3

F.Llorente

Amorebieta

Xabi Castillo

Igor Martínez

Raúl

Isma López

Zubiaurre

Iñigo

Ramalho

Aurtenetxe

Iñigo Pérez

Total

0

0

0

0

Ced

0

0

Ced

Ced

Ced

Ced

0


Roberto Lago

Escudero

Alexis

L.López

Total

0

0,5

0

Ced

0,5

Hugo Fraile

Mané

Barrada

Güiza

Arizmendi

Xavi Torres

Miguel Torres

Álex Pérez

Á.Vázquez

Total

0

0

10

0

0

2,8

0,5

Ced

Ced

13,3

Jordan Lotiès

Joan Oriol

De las Cuevas

Oriol Riera

Silva

Total

0

0

1,2

0,7

1,2

3,1

Kike Sola

Zabal

Timor

Nano

Annunziata

González

Rúper

Masoud

Total

4

0

Ced

0

0

0

0

0

4

87



Tissone

Santa Cruz

Antunes

Ferreira

Anderson

Angeleri

Pawlowski

Chen

El Hamdaoui

Total

0

0

1,2

0,5

1

0,2

Ced

0,4

Ced

3,3

Saviola

Demichelis

Edinho

Iturra

Joaquín

Isco

Toulalan

Baptista

Rubén

Recio

S.Fernández

Total

0

0

0

0

1,8

30

5

0

0

Ced

0

36,8

Stevanovic

Gil

Sapunaru

Toño

Del Moral

Lombán

Cisma

Rubén Pérez

Botía

Carlos Sánchez

Javi Márquez

Boakye

Total

Ced

Ced

0

0

Ced

0,1

0

Ced

Ced

0

Ced

Ced

0,1

Montagud

Etxeita

Xumetra

Palanca

Linares

Pelayo

Verdés

Flaño

Rivas

Powel

Total

0

0

0

0

0

Ced

0

0

Ced

0

0


Lanzarote

David López

Fuentes

Abraham

Pizzi

Sidnei

Álex

Torje

Córdoba

Total

0

0,2

0

0

Ced

Cedd

0,5

Ced

Ced

0,7

Petrov

Joan Verdú

Baena

Amat

Forlín

Álvarez

C.Alfonso

C.Gómez

Wakaso

Albín

Luna

Total

0

0

0

2,9

3,5

0

Ced

Ced

6

0

0

12,4

Perbet

Pina

Jokic

Pantic

Gio Dos Santos

J.Pereira

S.Asenjo

Gabriel

Total

1,4

5

0

0,3

6

0

Ced

3,3

16

Zapata

Senna

Mellberg

Joan Oriol

Truyols

Javi Venta

Diego Mariño

Joselu

G.Bordas

Juanma

Camuñas

Total

6

0

0

0

0

0

0

0

0

0

0

6

88



Gai Assulin

Brahimi

Iturra

Piti

Riki

Douglas

Belkalem

Coeff

Karnezis

Ighalo

Foulquier

Recio

Campos

Pereira

Widmer

Total

0

4

0

0

0

2,3

0

Ced

Ced

Ced

Ced

Ced

Ced

Ced

Ced

6,3

Iñigo López

Cases

Widmer

Toño

Pudil

Kitoko

Iriney

Anya

David de Coz

Lucena

Gai Assulin

Yuste

Ferreiro

Machí

Belkalem

Mikel Rico

Álex Bernal

Toti

Santos

Siqueira

Total

0

0

0,7

0

0

Ced

0

0

0

0

Ced

Ced

Ced

Ced

Ced

2,8

0

Ced

Ced

Ced

3,5


Dubarbier

Óscar Díaz

Tébar

Rodri

Suso

Ustari

Nélson

Torsiglieri

Barbosa

Total

0

0

0

Ced

Ced

0

Ced

Ced

Ced

0

Charles

Diego García

Carlos Calvo

Bernardello

Mejía

R.Suárez

Abel

Total

1

0

0

0

0

0

0

1

Seferovic

Abora

Granero

Oscar Vega

Total

3

0

Ced

0

3

Illarramendi

Llorente

Abora

Oscar Vega

Total

39

0

Ced

Ced

39


89

Home grown players by team

Club Canteranos

Valdés, Oier, Piqué, Puyol, Bartra, J.Alba, Montoya, Busquets, Xavi, Iniesta, Dos Santos,

Sergi Roberto, Cesc, Tello, Pedro, Cuenca, Messi

Casillas, Jesús, Diego López, Nacho, Carvajal, Arbeloa, Jesé, Morata

Manquillo, Koke, O.Torres, Mario Suárez, Gabi

Bernat, Alcácer, Guaita, Gayà, Míchel

J.Varas, Julián, Cala, I.Puerto, A.Moreno, Reyes

M.González, I.Martínez, Ansotegui, Zubikarai, C.Martínez, Estrada, Elustondo, Bergara,

R.Pardo, Zurutuza, Javi Ros, X.Prieto, Griezman, Aguirretxe

Iraizoz, San José, Gurpegi, Ekiza, Iraola, Iturraspe, Ibai, Susaeta, Muniain, Aduritz,

Herrerin, Laporte, Unai, Etxeita, Saborit, Morán, Beñat

Vadillo, Nano

Alvaro Garcia

Parreño, R.Rodríguez, Capdevila, V.Alvarez, J.Lopez, Tejera, Thievy, Kiko Casilla,

Carlos Clerc, David López


90

Home grown players by team

Club Canteranos

Juan Carlos, Iñiguez, Costa, Gaspar, Bruno, Manu Trigueros, Moises, J.Pereira

Jesús Gámez, Portillo, Juanmi, Samu

Arroyo

S.Alvarez, Tuñez, J.Vila, Hugo Mallo, Oubiña, Alex Lopez, Yoel, D.Costas, Jonny Castro,

Levy Madinda, A.Rodríguez

Flaño, Echaide, Oier, R.Torres, Puñal, Raoul Loé, Onwu

-

Hector Rodas

Lass Bangoura, Perea

Rueda, Baraja

Angel Trujillo, Zongo, Azeez

91

Players exits R. Madrid 2004-2014

9,3 45,0

15,2 30,8 66,0

87,5

11,0 16,5 38,5

103,5

2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14

Morientes

(9,3) Figo (0) Zidane (-) Helguera (0) A. Gonález (-)

Heinze

(1,5)

Metzelder

(0) Garay (5) Altintop (3,5) Ozil (45)

Owen (25) Portillo (0) Pavón (0) Cassano (0) Parejo (3) Guti (0) Pedro León

(5) Canales (7,5) Higuaín (37)

Celades (0) Cobeño (0) Mejía (0) Balboa (4) García (7) Raúl (0) Sarabia (3) Gago (3,5) Albiol (12)

Solari (2) Sánchez (0) Bravo (2,3) García (0) Codina (0) Van der

Vaart (11)

Juan Carlos

(2.5) Granero (8) Callejón (9,5)

Samuel (18) Arbeloa (1,3) Diogo (4,5) Granero (3) Saviola (5) Fran Rico (1) Diarra (5) Carvalho (0)

César (0) Borja (-) Beckham (0) Soldado (6) Cannavaro

(0) Drenthe (-) Kaká (0)

Juanfran

(0,4) R. Carlos (0) Baptista (10)

Huntelaar

(15) Carvajal (5) Adán (0)

Gravesen (3) Diego López

(7) Robinho (43)

Negredo

(15) Joselu (6)

Jurado (3) Cicinho (9) De la Red (-) Sneijder

(15)

González (-) De la Red

(3)

Robben

(24)

Ronaldo

(7,5) Émerson (5) Torres (2)

Salgado (0)

Van

Nistelrooy

(0)

92

Player exits FC Barcelona 2004-2014

14,8 10,0 13,0 14,0

55,0

22,0

69,0

23,8 0,0

28,1

2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14

Cocu (0) Rochemback

(1,5) Larsson (0)

Van

Bronckhorts

(0)

Edmílson (0) Eto’o (20) Touré (30) V.Sánchez

(0) Keita (0) Thiago (25)

Santemaría

(0) Ros (0) Gabri (0) Saviola (0) Oleguer (3)

Gudjohnsen

(2)

Chygrynskiy

(15) Milito (0) Henrique (-) Fontàs (1)

Luis García

(8,75) Albertini (-) Damià (1) Giuly (4,5)

Ronaldinho

(25) Jorquera (0)

R. Márquez

(0) Jeffren (3.75) Villa (2,1)

Overmars (-) Riquelme (7) Recber (0) Máxi lópez

(2) Ezquerro (0) Sylvinho (0) Henry (0) Bojan (12) Abidal (0)

Kluivert (0) Gérard (0) López (-) Belletti (5,5) Deco (10) Ibrahimovic

(24) Cáceres (3)

Quaresma (6) García (1,5) Navarro (6) Motta (2) Thuram (-) O.Romeu(5)

Dani (0) Rodri (0) G. dos

Santos (6)

Luis Enrique

(-)

Mark van

Bommel (6)

Zambrotta

(10,5)

Reiziger (0) Crosas (0,54)

Tortolero (0)

Enke (-)

93

1. Technical sheet




5. Conclusions

6. Annexes:


- Tables



94

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