European soccer’s biggest clubs "have slashed spending on players," even as the sport’s summer transfer window included "blockbuster moves" for the likes of Lionel Messi and Cristiano Ronaldo. The reduced spending on transfer fees reflects "two years of financial losses caused by the coronavirus pandemic leaving the sport’s executives struggling to profit from the multibillion-euro player trading market." The transfer window closed on Tuesday night, with overall spending during the window by Europe’s “big five” leagues close to €3B ($3.6B), according to Deloitte -- down from €3.25B in '20 and the record €5.5B spent in '19. The European Club Association estimated that clubs across the continent have suffered a collective revenue shortfall of €3.6B ($4.3B) over the past two years.

Total spending among EPL clubs was £1.1B ($1.5B), down 9%compared with the same period last year. The league’s net transfer spend -- player sales minus acquisitions -- was £560M ($772M) this summer. The figure dwarfs net spending in La Liga, €65M (77M), Italy’s Serie A at €61M ($72M) and Ligue 1 at €15M ($18M). Clubs in Germany’s Bundesliga made a net profit from player sales of €40M ($47.4M) (FINANCIAL TIMES, 9/1). 

The EPL's gross spend of £1.1B was 11% down on the summer of '20 (£1.3B), which itself was a 9% drop from the summer of '19 (£1.4B). Arsenal, ManU, Man City and Chelsea were the four biggest spenders in the EPL. In the League Championship, spending "dropped markedly" -- by £20M ($28M) (38%) to £35M ($48M) (LONDON TIMES, 9/1).

PSG had "by far the most flashy transfer window in its history, and by extension, that of French soccer." With the additions of Lionel Messi, Sergio Ramos, Gianluigi Donnarumma, Georginio Wijnaldum and Achraf Hakimi, the club "was operating on a different playing field than that of its competition" (RMC SPORT, 9/1). For PSG, it was a "golden window," one made possible "essentially by opportunity." PSG was able to "profit from the subdued financial situations of its Spanish and Italian competition." PSG’s summer haul "obviously wouldn’t have had the same taste" had Kylian Mbappe left for Real Madrid. PSG officials "opened the door on that idea before slamming it shut on the fingers of those in Madrid" (L’EQUIPE, 9/1).

DAZN has published audience figures for Serie A's first two weekends of coverage in Italy, with Juventus’ 1-0 home defeat against Empoli last Saturday its "most-watched match with over 1 million viewers." Based on Nielsen's figures, DAZN said that its coverage of Serie A's opening weekend from Aug. 21-23 was "followed by 4.3 million fans across the DAZN channel." This figure "rose to 4.7 million" for the second matchday last weekend. This is DAZN’s first season as the main Serie A rights-holder in Italy. DAZN noted that the total number of viewers for the second matchday "was 6 million when including fellow rightsholder Sky."

DAZN’s opening weekend coverage caught criticism from fans during Inter Milan’s 4-0 win over Genoa. DAZN viewers suffered interruptions during the game, "flickering images and streaming delays," prompting a social media backlash from viewers (ANSA, 8/31).

The EPL reportedly rejected an offer for players returning from World Cup qualifiers in countries on the U.K.’s coronavirus red list to quarantine -- and train -- at the FA's St George’s Park. During talks aimed at solving the ongoing club-versus-country crisis, the U.K. Government "indicated it was prepared to relax strict quarantine rules that force residents entering Britain from red-list nations to pay to spend 10 days self-isolating in a designated hotel." The plan would have been for players involved in World Cup qualifiers in such countries to spend their 10 days of quarantine at the National Football Centre, where they would have been "allowed out of their rooms for supervised solo training sessions." However, they still would have "missed matches for their clubs following the international break."

The Government’s refusal to allow such an exemption saw the EPL announce last week that its 20 teams had "unanimously" agreed not to release players for fixtures in red-list countries this month. The St George’s Park plan is said to be being pursued by Tottenham and Aston Villa, which released Argentine players for CONMEBOL qualifiers (London TELEGRAPH, 9/1).

FIFA named former USSF President Carlos Cordeiro senior adviser to FIFA for global strategy & governance. In that role, Cordeiro will advise FIFA on new strategic initiatives to grow the game at all levels. Cordeiro started at USSF in '07 as an independent director before serving as president from '18-20. During that time, he played a leading role as co-chair of the successful '26 bid for the FIFA World Cup. He was elected to the CONCACAF Council in '17. Prior to joining U.S. Soccer, Cordeiro was a vice-chair at Goldman Sachs (FIFA).

The Rochester Rhinos, a soccer club part-owned by EPL side Leicester City F Jamie Vardy, has been "re-branded in readiness for its return to the professional game in the U.S. after four years without matches." Vardy has overseen the renaming of the club, which will "now be known as Rochester New York FC, or RNY FC." A new club motto designed to match Vardy's "rise from non-league football to Premier League champion," saying: "Believe Impossible" will be displayed on all the club's marketing and merchandise. Vardy said, "That slogan is what we are all about. I've been written off so many times in my career -- nearly as many as the Rochester Rhinos."

RNY FC intends to start playing matches in '22, and is "in negotiations" with multiple U.S. leagues, "including the new MLS division known as MLS LDL (Lower Division League)." Vardy revealed in June that he had bought a minority stake in the New York state-based side but said he had "no plans to retire from playing" (SKY SPORTS, 9/1).

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UEFA and online bank Swissquote have announced a new sponsorship agreement for the UEFA Europa League and the newly-launched UEFA Europa Conference League from '21 to '24. Swissquote is the first online bank and Swiss company to enter into partnership with UEFA for its club competitions (UEFA).

N.Y.-based North Sixth Group -- which acquired an ownership stake in Serie C side Campobasso in December '20 -- on Wednesday purchased a 31% ownership stake in Serie B side Ascoli. NSG will be the first American owner in Ascoli's 123-year history (North Sixth Group).

Chelsea has been charged twice by the English FA for "failing to ensure their players conducted themselves in an orderly fashion" during its match against Liverpool on Saturday (LIVERPOOL ECHO, 9/1).

The whole board of the Icelandic FA has "resigned after it was claimed that it had tried to cover up an allegation of sexual abuse" against national team F Kolbeinn Sigthorsson. Before resigning, the board issued a statement apologizing to victims of sexual abuse for "having failed them, vowing to do better in the future" (London GUARDIAN, 9/1).

The PGA Tour's WGC-HSBC Champions event in China "has been cancelled for the second year running due to the COVID-19 pandemic." However, the Zozo Championship that was "scheduled the week before in Japan will still go ahead" (London DAILY EXPRESS, 9/1). See more in today's Closing Bell.

France's Canal+ has extended its TV rights deal to screen MotoGP for a further six years (BROADBAND TV NEWS, 8/31).

Australian Football League commentator Eddie McGuire, who calls games for Fox Footy, will "miss out on the AFL grand final for the first time in 45 years" after the Western Australia government "rejected his application to enter the state" for the game in Perth later this month (BRISBANE TIMES, 9/1).

The 24 Hours of Le Mans Virtual will return in September with a new name, a revised format, a total prize pool of $250,000, and a live in-person grand finale in January. Renamed the Le Mans Virtual Series, the sim racing competition is a joint venture of Motorsport Games and Le Mans organizer Automobile Club de l’Ouest (James Fudge, SBJ).

Afghan female Taekwondo athletes Zakia Khudadadi and Hossain Rasouli, who managed to make it to the Tokyo Paralympics "despite the confusion arising from the Taliban's return to power," have been "granted humanitarian visas by Australia," a lawyer involved in their evacuation said Wednesday (KYODO, 9/1).

"I really like him a lot and he was the main key for me to be in the position that I am, that I signed for Manchester United" -- Cristiano Ronaldo, on former ManU Manager Alex Ferguson's role in his decision to return to his former club (ESPN.com, 9/1).

"At times like this it is critical we stick together and stay positive. We have a very important run of games coming up after the international break and I’m confident we can and will come out fighting" -- Arsenal CEO Vinai Venkatesham, in a letter to team employees as the club looks to bounce back from a winless start to the '21-22 EPL season (London EVENING STANDARD, 9/1).

The London Guardian's Ed Aarons reflects on the transfer window after it closed Tuesday night under the headline, "Premier League flexes financial muscle but Spain and Italy struggle."

Cristiano Ronaldo has become the highest-scoring man in international soccer history with his 110th goal for Portugal.https://t.co/cRJDgfROBH

— AP Sports (@AP_Sports) September 1, 2021

At long last, after a mega career, Kimi Räikkönen has announced his retirement from #F1. The ice man was unique - we’ll not see his like again. Remember him like this. 🇫🇮 💪👍👌👏 pic.twitter.com/E1UQvMN9Ds

— Matt Bishop 🏳️‍🌈 (@TheBishF1) September 1, 2021

"I'm not a big name in the game if you like, so I've had to work hard for everything I've got. Nothing's come easy, in terms of career wise. That makes this all more enjoyable, the struggle of the journey."

A sit down with our newest senior coach. pic.twitter.com/hGgyj87An9

— Collingwood FC (@CollingwoodFC) September 1, 2021

.@Honda_UK become Performance Partner and Official Vehicle of England Rugby 🌹

More details ⤵

— England Rugby (@EnglandRugby) September 1, 2021

I can’t believe it is a year since joining the IOC today and what a year it has been. A year of learning, sharing the knowledge and building. The work continues after this needed break. Always quietly grateful everyday.

— Benny Bonsu (@MsBennyBonsu) September 1, 2021