The reported £80m bid for Cristiano Ronaldo is probably the least surprising piece of transfer business this summer. Having been elected on a ticket that effectively signalled a return to the era of Los Galacticos, Real Madrid President, Florentino Perez, was never going to be satisfied with just the signing of Kaka. Reports in the the local Valencian press yesterday suggested that Chelsea had bid for David Villa but this was rejected through progress in the player’s move to the Santiago Bernabeu.

Had it been an English club spending these sums, the respective heads of FIFA and UEFA would have been exceptionally quick to have their say about levels of debt. As it is, Blatter and Platini’s silences have been resounding. Madrid will argue that they are doing no different to Liverpool, Chelsea or Manchester United, simply that they are spending all of their money in one go. They have borrowed heavily to invest yet there will be little or no attempt by the game’s governing bodies to tar the club with the same brush as their English counterparts. Quite simply, both men know that Real and indeed the RFEF do not care what anyone thinks; they are going to do what they want anyway.

Perez knows from previous experience how long it will take them to recoup the money. Sales of replica kits and such like brings in significantly more revenue than the capital outlay of purchasing the players. That is before the lucrative friendlies that will take place. Little doubt either that Adidas has funded some of the Ronaldo deal; the opportunity to poke Nike in the eye with an exceptionally sharp stick would be simply too good to refuse.

The whole system of transfers will though come under close scrutiny. It is illogical to say that neither Kaka or Ronaldo are worth their fees when the combined revenues will easily outstrip the original cost. In those circumstances, they are worth more. Add into that mix any trophies and it is not difficult to see how the transfer fee is easily justifiable.

In both cases though, money is being concentrated in the upper echelons of the game. Little of the money earned by AC Milan or Manchester United will filter down in big chunks to teams much lower down the footballing scale. They will replace their big name stars with those whose stature is already in the ascendency. No doubt either that both clubs will use some of it to reduce, or at least service, their existing debt. Although a trickle will follow a path to the bottom, out of the original sums this will be not insignificant but not vast either. Both teams will seek to buy from other Champions League teams but eventually the odd million or two will go lower.

It is the perfect opportunity for FIFA or UEFA to step in, if the situation irks them enough. Formulaic transfers exist already when younger players are the object. It is not too much effort to extend that across all transfers. In a time of recession, such a move could prove beneficial since the creation of administrative jobs would ease the unemployment burden across the footballing world. However, neither body will do anything because, certainly in the case of the latter, the clubs hold too much power.

For Arsenal, there are several issues that may affect them. The ability to purchase in the transfer market is however not one of them. Rarely do United and Arsenal cross paths when buying players. Also, Wenger has stated that his targets are more defensively orientated than Ronaldo. The first concern will be that instead of being a team of individuals, United may actually transform into more of a team without relying on Ronaldo to get them out of trouble in front of goal.

Rumours of course are circulating that there is unrest at Old Trafford with Tevez reportedly looking to move having been, in his own mind at least, disrespected. Rather curiously, Sporting Lisbon appear to have been given some encouragement in their attempt to regain the registration of Nani, either by loan or player(s) exchange and cash. No doubt most of this is media talk but welcome to our world Manchester United fans.

The bigger concern for Arsenal fans already used to endless summers of media speculation, is that some of it may come true. Rather like a child in a sweet shop, Milan may wave the much reported £25m – £30m cheque in front of Arsenal’s face for the services of Adebayor. It is not something that is beyond the realms of belief and personally, I would not advocate losing the Togolese striker. That said, it would be good business, financially, and as a supporter, you have to trust that the club would not do such business without having lined up a suitable replacement first. Little doubt that there will be cries for Benzema or Villa but they are earmarked for others in reporting terms.

Prior to the Ronaldo deal being announced, Cesc Fabregas was interviewed by ATVO. He committed his future to the club and there is no reason to doubt the veracity of his words. Tellingly, he observed:

What you cannot stop is what people say about you. The press can write or say whatever they want.

The greater concern will be that this high profile flurry will goad Barcelona into making a bid for him. As Ronaldo has proven, every player has a price and there will doubtless be a welter of opinion in the Catalan press that Barcelona should react positively with a statement of intent that they are not going to surrender the trophies that they have won this season lightly. For Arsenal, such a bid would be doubly unwelcome on the basis that (a) Fabregas is a world class player and lynchpin of the side but also (b) his sale may send the wrong signal to other players in the squad, particularly van Persie who has yet to extend his contract.

Of course, there is an argument that in Arshavin, Nasri and possibly Rosicky, the club has players who could replace from within. The latter would perhaps be the most ‘like for like’ but with his fitness still clouded by well-founded concerns, reliance would fall on the former duo. Of course, all players are different and bring their own attributes to the game but having suspected it would be a long and dull summer before recent events, it may well be that exactly but with a twist or two down the line.

’til Tomorrow.