It’s to cheat the PSR rules, Sean.
If they value their LB at £10m they can do a deal for £20m (or in this case £34m) and buy a zero valued player off of the buying club for £10m therefore the total cost is still £10m but both clubs can report huge profits for PSR calculations. That’s why those teams are all transferring unheard of players to the other clubs at highly inflated prices.
Pure profit on homegrown players all accrued in the one year in PSR calculations. PL will probably try and clampdown on it but I assume they made the mistake of expecting clubs to act with dignity.
Apparently the PL have written to clubs saying they can revalue players fees if they feel they have been inflated to bypass these rules. That will be interesting considering what City are currently doing via the courts, as in there could be another lengthy court battle should the PL decide a youth player no one has heard of who has never played for Villa not being worth £19m to Chelsea.
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