Sidiki Cherif to Wrexham transfer failure - ‘We had the money’ | OneFootball

Wrexham were linked with the £19m signing of Sidiki Cherif in January

Wrexham director Shaun Harvey has explained that EFL spending limits were behind the decision to pull the plug on their big-money January pursuit of Sidiki Cherif.

It was reported during the mid-season transfer window that the Red Dragons were keen on a sensational swoop for the 19-year-old forward, with it being claimed that the teenager could cost as much as £19 million amid his impressive performances in Ligue 1 with Angers.

Cherif made 19 Ligue 1 appearances for Angers and scored four times, which led to not only interest from Wrexham, but from Crystal Palace too.

The Eagles were in talks to land the exciting teenager, but just as it looked like Wrexham were in pole position, Cherif instead ended up at Turkish giants Fenerbahce, who have signed him on loan with an obligation to buy for a total fee of €25 million (£21.8 million).

Wrexham AFC’s decision to pull out of Sidiki Cherif pursuit explained

The aforementioned Harvey has claimed that Wrexham had to take into account the profit and sustainability rules (PSR) when weighing up whether or not to pursue Cherif in January, even with the team chasing promotion to the Premier League.

While he believes that the possible £19 million figure would’ve been within their limits, it would’ve been at the upper end and a move ultimately wouldn’t have proven value for money in that case.

"What being sixth in the league did was give us that scope to have the potential to spend every single penny possible that we had available under PSR regulations,” Harvey told the Fearless in Devotion podcast.

"[Cherif] was one that we looked at that was definitely going to be at that top end of the money that we had available.

“When I say available, I mean under the PSR limits, so you are limited.

"It doesn't matter how much money you've got, you can only lose so much in a three-year period.

“We had a look but the challenge with that deal was that he's a player that's on the up and it was going to be expensive.

"We had the money to spend, but the final analysis basically came down to that it didn't represent value in this particular transfer window."

Wrexham are seeking a remarkable fourth promotion in a row in what has been a rapid rise up the English footballing pyramid.

The Red Dragons currently occupy a play-off place, although they are only ahead of seventh-placed Preston North End due to a superior goal difference.

Sidiki Cherif signing would’ve been a huge gamble by Wrexham and Phil Parkinson

Pushing up against the limits of PSR for Wrexham would have been very risky, as the penalty for breaching the financial rules can be quite costly.

Wrexham have enjoyed a superb first season in the Championship so far, irrespective of what happens from now, and perhaps adding the 19-year-old would’ve been a great way to bolster their promotion hopes, had they been able to get a deal over the line.

However, that is far from guaranteed, and it would’ve been a huge financial gamble to spend that much on someone still so young and unproven.

With Fenerbahce obligated to buy Cherif in the summer for a fee greater than what was touted for Wrexham to purchase him for, the North Wales outfit will have to look elsewhere in a few months time when the transfer window re-opens, and it'll be interesting to see if he's a big hit in the Super Lig, at a club where expectations will be high.