Weakened Euro against Pound cost United £22.5m on Angel Di Maria transfer

Generally, it is believed that it is just the matter of a player, his form, and money his host side is asking whenever he is about to leave the side. But there is actually a whole world behind the scene that operates in a very much professional way and tells if any player’s movement has been fruitful for the side or not – and of course we are not saying anything about money that visibly change its hands. Manchester United midfielder Angel Di Maria’s move to PSG has been in the news ever since Argentinean decided to move out of England but few peoples know that its affect followed United in Foreign Exchange terms too. Yes, if you are not financially qualified to understand this, leave apart but take a glimpse of how Red Devils lost another £22.5 million by weakening Euro/GBP exchange rate after Maria switch. The details have just been revealed by Foreign Exchange (FX) specialists Foenix Partners who says £15m was the exchange loss that ManU suffered when 27-year-old initiated his transfer and rest £7.5m when he completed his move.

However, this is not actual outlay of money as has been understood by many but its effects will be seen clearly in the financial balance sheet of the Old Trafford side when they will have to adjust the currency exchange loss. Explaining the details of their calculation and how they concluded the deficit, a statement from corporate FX broker Foenix Partners reads as: “Since mid-September 2014, GBP/EUR has steadily risen from below 1.2400, reaching a high of 1.4415 in July 2015 and gaining more than 20 cents in 10 months. As a result, UK clubs buying players in Europe have enjoyed a sharp fall in the sterling costs of their European transactions.

“However, when selling players to European clubs the situation has reversed. When Manchester United bought Argentine winger Angel Di Maria from Real Madrid on Aug. 26 2014 the cost was £59.7m at a rate of 1.2558.

“When the club sold the same player to Paris Saint-Germain for just £44.3m on Aug. 6 not only did they lose £15m on the player, but they are also likely to have lost a further £7.5m due to the exchange at the time. Although payments to the top UK clubs playing in the UEFA Champions League have risen dramatically for the 2015-2016 season, increasing from €37.4m to a maximum of €54.5, the exchange rate from the date of first round matches in 2014 to today has dropped 11 percent.”

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