The £3.5bn Paradox: How Premier League Financial Rules Became the Biggest Transfer Accelerant in Football

Premier League clubs just shelled out a record £3.46 billion this summer — and the rules designed to stop them from doing exactly that are largely to blame. The Squad Cost Ratio regulations, introduced to replace the disgraced Profit and Sustainability Rules, were supposed to impose fiscal discipline on football's most reckless spenders. Instead, they've created an elaborate incentive to trade players between clubs at inflated prices, crystallising paper profits that unlock even...