Manchester United made a £22.5m loss by selling Angel Di Maria to PSG - because the Euro was weak compared to the pound
Premier League clubs saved £85m because of the exchange rate
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Manchester United have made a whopping £22.5million loss on Argentina winger Angel Di Maria when they sold him to Paris Saint-Germain this summer, report a corporate FX broker.
Analysis from Foenix Partners claims that the Premier League club, who sold Di Maria to PSG for £44.3m just a year after buying him for a British record £59.7m, were burned by the weak exchange rate from the Euro compared to pound sterling.
A statement put out by the company read: "When Manchester United bought Argentinian winger Angel Di Maria from Real Madrid on the 26 August 2014 the cost was £59.7m at a rate of 1.2558.
"When the club sold the same player to Paris Saint-Germain for just £44.3m on 6 August not only did they lose £15m on the player, but they are also likely to have lost a further £7.5m (exact figure is £7,575,300) due to the exchange at the time."
The pound has risen from below 1.2400 in September 2014 to a high of 1.4415 in July.
Conversely, the weak Euro means that Premier League clubs saved a whopping £85m on players brought in from the continent - with the 20 clubs combining to pay £483m for players this summer.
That means that Louis van Gaal and Ed Woodward actually came out on top, with new arrivals Memphis Depay, Matteo Darmian, Bastian Schweinsteiger and Anthony Martial all coming from Europe.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments