Defusing the PSR 'bomb': The inside story of Aston Villa's transfer window

Tottenham’s home defeat to Manchester City secured Champions League qualification and in what happened to be perfect timing, Unai Emery, his players, staff and several hundred supporters were together to celebrate the moment at the club’s end-of-season awards dinner.

Yet amid the cheers and popping champagne corks, two men inside the room exchanged concerned glances.

Monchi, Villa’s president of football operations and Damian Vidagany, head of football ops, both knew how critical the next few weeks would be if the glory of the 2023-24 season was not to be quickly followed by the ignominy of a points deduction for breaching the Premier League’s profit and sustainability rules (PSR).

“Monchi and I were at the party, thinking how to not spoil this beautiful year by having a points deduction,” explains Vidagany.

Pretty much everyone in football knew Villa, who had reported losses of £119m for the 2022-23 campaign alone, were sailing close to the wind when it came to PSR limits, which permit losses of £105m over a three-season cycle.

Just how much trouble they were in is only clear now, following the closure of a transfer window both Monchi and Vidagany, two highly- experienced operators, would describe as the toughest of their careers.

In short, Villa needed to raise tens of millions in player sales by the end of June, or face a points deduction this season of between 10 and 12 points.

“There was a bomb with the countdown, and we were there to cut the cable,” says Vidagany.

The solution was not so simple as just selling players. Much as Villa knew their PSR problems weakened their negotiating position, they were determined to do as much business on their own terms as possible. It is why selling Emi Martinez or Jacob Ramsey, both of whom were the subject of bids, was never considered. Neither was any thought given to putting Ollie Watkins on the market.

“We had four objectives this summer,” explained Monchi. “First, to find a solution for the PSR. That’s the most important.

“Second, was to have a younger squad. Three to have a deeper squad. Why? Because we need to play more competitions. And the fourth is to be aligned with what Unai wants.”

With the window now closed, they believe they largely succeeded in hitting all four targets, albeit the restrictions they faced with regard to both PSR and Uefa’s cost control measures meant it was never going to be perfect.

The opening weeks of the summer were fraught and just as in the action movies, the bomb of which Vidagany speaks was only finally defused in the final scene, the crucial £42.3million sale of Douglas Luiz to Juventus finally going through on June 30, more than a month after Monchi and Vidagany had travelled to Italy and agreed the blueprint of the deal with the Italian club.

Luiz, a key player for Emery’s Villa last season nearing the end of his contract, had been identified as a valuable asset who could probably be replaced more easily than other members of the squad.

Yet Villa were not in a position where they could wait for the market to develop. The onus was on them to find a buyer and in Juventus they sourced a suitor who were keen on Luiz yet not in a position to pay the Brazil international’s full market value.

That meant Villa agreeing to buy players from Juventus in return. Several are thought to have been discussed before midfielder Enzo Barrenechea and winger Samuel Iling-Junior were identified as two young talents Villa believe have the potential to be assets in the future.

Getting all three deals, involving three different players and three different sets of agents, over the line was never going to be easy. Luiz’s involvement in Brazil’s Copa America campaign added further complication, with his Juventus medical and contract signing taking place while away with his national team in the USA.