Source: Daily_Mail
Show them the money! Premier League clubs opt to pay big wages over big transfer fees
Big money move: Sunderland splashed £12m Asamoah Gyan [LNB]Premier League clubs are putting their faith in higher wages instead of spending big on transfers, according to analysts.[LNB]The top flight's spending on transfers dropped significantly this summer with more than £100million less being splashed out on new signings compared to the last three years.[LNB]Analysts Deloitte say around £350million was spent by top-flight sides in this transfer window, 22 per cent less than in 2009 and the lowest sum since 2006.[LNB]The Premier League's overall summer transfer spending peaked at £500million in 2008, and was down to £450million last year. In 2006, thefigure was £263million.[LNB]By contrast, player wages have risen by 11 per cent according to the most recent figures.[LNB]Paul Rawnsley, director of the sports business group at Deloitte, said: 'In general clubs are more keen to spend money on wages than on transfers.[LNB]'Thestory from the clubs generally is one of relative restraint on spendingon transfers and trying to improve the balance.[LNB]'I think there are a number of factors behind this - there is the backdrop of Portsmouth going into administration last year and clubs feeling the need to be more prudent.[LNB] He's off: Robinho left Manchester City on transfer deadline day[LNB]'Tax rates for high earners have increased and the pound is not as strong against the Euro.[LNB]'Then there is UEFA's new financial fair play rules which may also be encouraging greater restraint.'[LNB]Deloitte also pointed out that Manchester City's transfer spree has been 'a key driver' of the overall spending with the club's acquisitions of around £126million representing 36 per cent of total spending.[LNB]Rawnsley added: 'For the time being at least, we are seeing a new financial reality as clubs strive to improve their financial balance.'[LNB] World Cup star Gyan joins Sunderland in club record £12m swoopStoke clinch surprise Pennant deal as winger joins Gudjohnsen and WilsonBetter late than never! Clubs go to the wire in bid to land deadline bargains[LNB] [LNB]
