Melchester Rovers is an English Premier League football club. They have signed $3$ deals to buy and sell new players in the next transfer window.

They have contracted to sign Killian Mbapp$$ from Paris St Germain $($PSG$)$ in France for $200$ million euros. This will be paid in stage payments. The first payment is $20$ million at the end of June; then $120$ million at the end of August; then $25$ million when the player completes $25$ matches for Melchester Rovers, which is estimated to be at the end of December. The balance is due at the end of March $2025.$ The club has also contracted to buy David Alaba from Real Madrid in Spain. This deal will require two payments. The first is $35$ million at the end of June and $20$ million at the end of December $2024.$ Due to injury concerns with the player, if he has not played $10$ matches by the end of December $2024$ the second instalment will be only $5$ million. The club has agreed to loan its striker, Blackie Gray, to Beijing Sinobo Guoan in China for the remainder of the $2024$ Chinese Super League season, from late April to mid November. The Chinese club will pay the loan fee in US Dollars. The fee is USD$30$ million and will be paid in two equal instalments. The first will be paid on $12$ May $2024.$ The second instalment will only be paid at the end of November $2024$ if the player scores at least $20$ goals. If he scores less than $20$ goals the second part of the fee will not be paid. The Melchester Rovers Treasury Policy does not permit the use of foreign exchange currency options.

The following are the spot rate and forward points for GBP$/$USD and EUR$/$GBP$.$

EUR$/$GBP GBP$/$USD

Spot $0\mathrm{.}8575/851\mathrm{.}2640/50$

$1$ month $10/125/8$

$2$ months $19/2213/16$

$3$ months $30/3318/22$

$4$ months $41/4523/27$

$5$ months $50/5530/32$

$6$ months $60/6633/36$

$7$ months $69/7538/42$

$8$ months $80/8745/48$

$9$ months $91/9549/52$

$10$ months $101/10653/55$

$11$ months $110/11557/60$

$12$ months $125/13261/67$

You have been appointed Treasury Manager of Melchester Rovers. The objective for hedging foreign exchange exposure on player transfers is to achieve the best possible Sterling return. Based on your view of the markets and the objectives of the club, what strategy would you pursue? Is there anything the club could do to remove or reduce its need to externally hedge foreign exchange exposure on these or subsequent transfers?