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Chelsea's buying power is having an increasing impact on the transfer market in English football. This is partly because big name players have waited until they can land a contract with Chelsea, which can offer the biggest wages. The Chelsea effect has arguably slowed the transfer market because the top players are reluctant to move until they know Stamford Bridge is definitely not interested in taking them to west London. Outside the big four (Chelsea, Manchester United, Liverpool and Arsenal) spending has been much lower than previous summers. Middle and lower ranking clubs have boosted their squads but have tended to sign players available for free because their contracts have expired, or in somne cases have made signings from the Championship. Manchester City are heavily in debt and while some of the money they received from Chelsea for Shaun Wright-Phillips will be made available for player purchases, most will go to reduce borrowing. More generally, hefty salaries, now a bigger factor in financial calculations than transfer fees, have played a part in reducing the level of activity. Clubs are often happy to see players move on to reduce the wage bill. Away from Chelsea, the 'spend, spend, spend' days in the Premiership seem to be coming to an end.
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