The departure of Alvaro Negredo on the last day of the transfer window without a replacement arriving has surprised many people. That he was looking to leave seemed to be almost an open secret. Rumours have been circulating for a while that his wife wasn't happy in England and was suffering from homesickness. If true, then the best for all concerned is probably a transfer back to Spain. But why was this done so late and with no replacement arriving? This is unlike the carefully planned moves that have characterised City's transfer business in the last two summers. Is the clue to be found in the FFP punishment City received from UEFA a few months ago?
Two aspects of the FFP punishment have been discussed often over the summer - the squad size restrictions and limit on spending on transfers. A third part of the punishment has rarely been discussed. City's wage bill cannot increase. While I'm not certain of the exact details, such as what the monitoring period is, the club will be aware and will have a number they want the total wages to be below after all the transfer business has been done.
This need to restrict wages throws an interesting light on much of City's summer business. Firstly several high wage earners have left (e.g. Lescott and Barry), and secondly several players who would have been among the highest earners (such as Aguero, Silva and Kompany) have signed new long term deals. Normally this would also mean their wages would have increased but a line from City's statement in response to the FFP punishment suggests an alternative. This said:
It is important to note that additional bonuses for performances can be paid outside this number.
The number referred to is the wage bill. Bonuses do not count towards wages for FFP. So have City reduced their wage bill by renegotiating contracts with reduced basic pay but increased bonuses? I doubt UEFA would allow them to abuse this loophole by doing this significantly, but it does suggest City are making efforts to reduce wages.
If the whole of City's summer transfers and the new contracts is looked at from the point of view of the wage bill, it does look like efforts have been made to comply with the FFP wage restriction. Which brings us back to Negredo. What if, after all the summer activity, they looked at the wage bill and weren't certain of passing the FFP test? Perhaps there was an agreement that he would be allowed to leave if a replacement could be brought in, but they didn't find one. This would explain why nothing happened earlier. Then, at the end, there was a need to trim the wage bill a little bit more and Negredo wants to leave. Was he allowed to leave at the last minute due to FFP?
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