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英媒：英超今夏转会支出超35亿英镑，但繁荣建立在债务基础之上

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9月3日讯 英国媒体《独立报》指出，英超今夏投入巨资引援，但表面上的繁荣蕴藏着隐忧，很多交易的结构令人担忧，足球产业面临前所未有的债务基础。 英超今夏转会窗口花费超35亿英镑，但很多交易结构令人担忧。一些买方俱乐部本赛季无需付款，只需在未来几年分期支付，而卖方仍可按全价入账，这笔创纪录支出建立在前所未有的债务基础上。 流动性是英格兰足球的巨大问题，独立足球监管机构即将发布的报告将直指这一症结。与此同时，私人信贷正面临压力，从AI泡沫担忧到全球债券收益率大幅上升。一位俱乐部人士警告："信贷挑战即将来临，足球界应该担忧。" 多位资深高管将此比作次贷危机，甚至有足球版"大空头"的风险。英超表面繁荣，但足球本应自给自足，如今却受其他力量塑造，机构资金（尤其来自美国）的影响力过去七年大幅增长，甚至出现将女足队出售给关联公司等违背足球传统规范的做法。 许多高管认为，英超的阵容成本比率规则加剧了这一现象。俱乐部通过转会资金流动来遵守规定，债务却不断增长。有高管直言："足球需要EFL和F1那样的约束。" 随着市场不安加剧，更多投资者涌入足球，视其为与整体波动不相关的资产类别。但高管警告，若俱乐部继续吸收失控的引援和相关费用的资金，这些"稀缺品牌"投资值得警惕，似乎有太多人只考虑短期利益，形成了一个旋转越来越快的循环。 西方政府债务成本正在上升，若市场调整，信贷线变化，依赖资金流动的俱乐部将面临截然不同的局面，泡沫将破裂，债务将被追讨，通常金字塔底端的俱乐部将最先感受到广泛影响。
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