Analysis: “The transfer market could become like when houses fall in value and no one wants to crystallise the loss”

We have used a unique method to investigate which clubs are most vulnerable to the frozen transfer market.

Our list contains five French clubs – the rest coming from England, Italy, Portugal, Holland and Denmark. One famous owner has two clubs on the list.

French clubs stand out as being extremely dependent on player sales – whereas clubs from the German Bundesliga are much less reliant on transfer fees.

The power balance in the transfer market has significantly changed. It is turning into a buyers’ market.

However, bigger clubs could be left lumbered with players whom they don’t wish to accept a loss on. The Portuguese market is a future joker.