We are now in the midst of transfer madness. Brand spanking new deadline day TV adverts - check; Arsenal fans demanding that final transfer to make them title contenders - check; utterly stupendous figures banded about as if it’s loose change in your back pocket – check.

Transfer Deadline Day is fast approaching and we will surely see fireworks with many of Europe’s elite football clubs looking to add that one player that could define their season. There is even the possibility that Gareth Bale’s record transfer fee of £85.3m might be broken.

On such a busy day, it’s difficult to appreciate what actually goes on behind closed doors. For instance, in the Internet age, why do we hear that fax machines are still being used at the eleventh hour?

We spoke to the author of 'Soccernomics' and 'Money and Football', Stefan Szymanski, in an attempt to debunk some of these Deadline Day myths. Watch above.

Stefan Szymanski is the Professor of Sport Management at the University of Michigan.

Watch out for our next video where we debunk the role of agents in the modern game.

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