In any previous year, West Ham buying Marko Arnautovic might not have drawn much attention. The reason it's been front-page news this week is the fee. The Hammers have dropped an eye-watering £24 million to buy the Austrian from Stoke. It has to be considered an inflated fee considering the forward scored just seven times last season and is 28 years old. So, why has this transfer gone through?
The issue With equality
The elephant in the room is the television deal the Premier League enjoys. When it was announced, people imagined that it would make the league the most powerful in Europe – that no player would be able to resist the gigantic wages on offer in England. That has happened to an extent, but the emerging issue is of a new parity within the league.
This is in part down to the way television revenue is shared out. In 2013-14, the clubs with the highest income earned £1.6 million for every million earned by the weakest clubs. It is was a similar story in 2016-17. Chelsea earned £150 million for winning the league, while Sunderland raked in over £93 million – despite coming dead last and being relegated.
The new television deal with Sky and BT has created an ultra wealthy league from top to bottom. Weaker clubs can now afford to turn down bids for players, especially those they want to keep. Even players like Arnautovic can command huge fees in the right circumstances.
The man himself
That's not to disparage the Austrian – he's a good player. Fast, muscular and direct, he's been a worthwhile part of Mark Hughes' Stoke side. Since signing for Stoke he's scored 22 times in four seasons. He'll have games where he's close to unplayable, a danger every time he gets on the ball. However, the only clubs willing to pay £24 million (and presumably a very generous weekly wage) are English. No club in Europe would match that bid.
When the time comes to offload Arnautovic, West Ham will face two problems. The first is a normal issue – due to his age, he is a depreciating asset. Unless he transforms into a world-beater, the player will be worth less than he is now. The second problem is his wages. Considering he was earning a rumoured £80,000 per week at Stoke (and would be given a raise for moving clubs) he will be difficult to sell to a European side even if he were granted a free transfer. The Hammers might be on the hook for around £20 million over an assumed four year contract.
A spiral of excess
Herein lies the problem: players already plying their trade in England are seen as less risky than a purchase from abroad – they know the demands of the league and are comfortable with the pace of the game. They need less time to settle in a team and will (usually) be able to speak the language. Combine this demand with the existing 'homegrown premium' on English players, it may spell problems for the national side. It will be significantly cheaper for clubs to acquire foreign players than to buy from within the league.
Photo by Michael Kranewitter
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