Sunderland look set to stick rather than twist in the January transfer market, clearing a path for them to reboot their squad in the close season again with one of the healthiest financial positions of any club in the division.
While the recruitment picture could change if compelling options become available – or they need attacking replacements – the Black Cats’ incomings in the next week may be limited to a backup goalkeeper if interest in Anthony Paterson is stepped up.
Sunderland confirmed a loan deal for Dan Neil to Ipswich Town on Tuesday but reports that Eliezer Mayenda could be allowed to move to Paris FC have been played down to The i Paper.
So far Sunderland’s only outlay is the £3m they spent to beat Celtic to talented youngster Jocelin Ta Bi, viewed as “one for the future” and a low-risk investment in potential that they can develop.
The reasoning? The Black Cats are once again taking a long-term view of their development, protecting their financial status with an eye of recruitment in the summer.
The i Paper understands the club’s position in terms of both the Premier League’s profitability and sustainability rules (PSR) and the new squad cost ratio (SCR) rules is “excellent”.
Sunderland’s squad cost is not in the top 20 in England and – despite a steep upturn in wage costs to coincide with their return to the top flight – it still ranks significantly below other rivals.
With the club’s commercial revenue set to grow after their return to the top flight, Sunderland have the chance to build a squad capable of ensuring they become an established top flight club.
Football finance experts believe they have as much as £120m in terms of PSR headroom, allowing them to carry out further recruitment if they wish.
With transfers amortised over the length of the contract signed, that headroom is the equivalent of signing five players valued at £50m on long-term deals.
But – in keeping with Sunderland’s mantra of being competitive while maintaining sustainability – they look set to pass on the chance of adding to the squad in January, with prices and player availability not suited to their careful team-building policy.
And insiders suggest that the club’s recruitment model will not shift significantly in the coming years, following a blueprint of mostly signing young players with the likes of “game-changers” like Granit Xhaka.
What will not be happening while owner Kyril Louis-Dreyfus continues to lead from the front is a splurge to try and fast-track the club’s jumping into the Premier League’s middle order.
Signings will have to be prepared to sign up to being part of the culture that Regis Le Bris has created, so anyone expecting Hollywood signings in the summer might be disappointed.
“We haven’t abandoned the plan to become a different club in the Premier League. We’re doing things the way they’ve always done,” according to one insider.
The model has already attracted admiring glances from elsewhere in the top two divisions.
Leeds United managing director Robbie Evans said the Black Cats have created a “perfect storm” PSR-wise, with minimal losses, healthy player trading and a low wage bill.
It is a stance Professor Rob Wilson, football finance expert and programme director at University Campus of Football Business, agrees with.
“They’ve spent well, they’ve sold well and they’ve also got this benefit of this £120m from the Premier League, which you can essentially spend without making a loss,” Wilson says.
“They’ve been very shrewd in how they’ve gone about things. They’ve signed some players who weren’t fancied by other teams who have performed.
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“So if they are true to their model there’ll be some sales and re-running the model again.
“There’s a level of being realistic with the fans which is not ‘let’s go and spend a load of money because we’ve been relatively successful in the Premier League this season’, it’s let make some good trading profits and keep building.”
Judging by the shrewd way they have approached January, there seems little danger of that.
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