Belfast Telegraph

Editor's Viewpoint: Spend, spend, spend

Recession, what recession? That's how the public must feel when it watched tens of millions of pounds being spent during the soccer transfer window which closed last night. The final frenzy of deals sent broadcasters and sports journalists into a state of hyper-activity.

But is narrowing the period when players can be bought and sold not really just feeding the frenzy and driving up prices at a time when Uefa is introducing its financial fair play rules which mean that clubs must balance their books or face expulsion from European competitions?

The thrust of the initiative is to stop mega-rich clubs like Manchester City or Chelsea simply running up huge debts to buy top class players. However, as any business can demonstrate, there are many ways of balancing the books.

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