Untold riches will rain down upon the English Premier League in 2016, but for all their resources, the country's leading clubs currently seem incapable of staking claims to the title.
The record £5.14 billion (Dh28.1b) television rights deal due to kick in next year will reinforce the English top flight’s status as European football’s financial behemoth.
But champions Chelsea have imploded, Arsenal and Manchester City remain hit-and-miss and while Liverpool find their feet under Jurgen Klopp, Manchester United appear to be stagnating under Louis van Gaal.
It has fallen to Leicester City to make the early running in what former United captain Gary Neville has described as "the most bizarre league that I have seen in a long time".
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The year’s first financial shockwave arrived in February, when Sky and BT Sport agreed a new domestic TV rights package for 2016-2019 worth 70 per cent more than the deal for the previous cycle.
June brought news that record revenues of £3.26 billion for 2013/14 had enabled Premier League clubs to post pre-tax profits of £187 million – the first since 1999.
Even before the new TV deal takes effect, Premier League sides have been carrying out essential housekeeping – net debt across the league falling by six per cent – as well as splashing out in the transfer market.
Total spending across the close-season transfer window reached a record £870 million, according to financial analysts Deloitte, and spending for the calendar year pierced the £1 billion barrier.
City led the way, notably shelling out £55 million for Kevin De Bruyne, while United provoked gasps by signing the relatively unheralded Anthony Martial for a fee that could reportedly reach £58 million.
But it was the transfer dealings of the smaller clubs that revealed England's true financial might, from Xherdan Shaqiri leaving Inter Milan for Stoke City to Crystal Palace signing Yohan Cabaye.
Also see
Greg Lea on Yohan Cabaye, Crystal Palace and the new riches enjoyed by the Premier League’s ‘middle class’
All the while, the money continued to flow in – United embarking upon a £750 million kit deal with Adidas; Chelsea striking a £200 million shirt sponsorship agreement with Yokohama Tyres; a Chinese consortium paying $400 million for a 13 per cent stake in City.
The game’s current megastars – Lionel Messi, Cristiano Ronaldo, Neymar, Luis Suarez – may play elsewhere, but several Premier League clubs now harbour feasible ambitions of luring them to England.
And with overseas TV rights also due to be renegotiated in 2016, the monster shows no sign of being sated.
“This new English contract will dominate the market,” Bayern Munich chief executive Karl-Heinz Rummenigge predicted in September.
“We have just seen the tip of the iceberg. The transfer tsunami will increase in strength and height.”
But while Europe’s major clubs brace themselves for renewed raids from England, the season to date has eloquently demonstrated that money does not solve everything.
Chelsea, champions in May by an eight-point margin, have been sucked into a relegation battle after catastrophically losing nine of their first 16 games, resulting in Jose Mourinho’s demise.
Doubts persist over Arsenal's backbone in spite of back-to-back FA Cup triumphs, while City have already lost four times in the league, including 4-1 drubbings by Liverpool and Tottenham Hotspur.
Van Gaal, meanwhile, is struggling to convince anyone that he is the man to restore United to the heights of the Alex Ferguson era amid reports of player dissent over the 20-time champions’ robotic football.
United crashed out of the Champions League in the group phase and although City, Chelsea and Arsenal reached the last 16, there is little faith that England’s four-year wait for European glory will end.
Tottenham, Palace, West Ham United, Everton, Stoke and promoted Watford have started the season well, but it is Leicester who have created the sensation.
Dogged and hard-working, Claudio Ranieri’s team are the antithesis of Premier League glitz and in Jamie Vardy and Riyad Mahrez they boast an attacking duo who cost just £1.4 million between them.
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
UAE currency: the story behind the money in your pockets
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
RESULTS
Lightweight (female)
Sara El Bakkali bt Anisha Kadka
Bantamweight
Mohammed Adil Al Debi bt Moaz Abdelgawad
Welterweight
Amir Boureslan bt Mahmoud Zanouny
Featherweight
Mohammed Al Katheeri bt Abrorbek Madaminbekov
Super featherweight
Ibrahem Bilal bt Emad Arafa
Middleweight
Ahmed Abdolaziz bt Imad Essassi
Bantamweight (female)
Ilham Bourakkadi bt Milena Martinou
Welterweight
Mohamed Mardi bt Noureddine El Agouti
Middleweight
Nabil Ouach bt Ymad Atrous
Welterweight
Nouredine Samir bt Marlon Ribeiro
Super welterweight
Brad Stanton bt Mohamed El Boukhari
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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