Summer spending set to break record

30 August 2013 05:01

Premier League spending during the summer transfer window is poised to hit record levels this year.

With three days remaining until Monday's transfer deadline, professional services firm Deloitte has released data indicating that spending is already 15 per cent higher than at the same stage of last year's window.

As of Friday morning, clubs had spent an estimated £430million on players, £60million short of the final 2012 total of £490million. The record spend of £500million was recorded in 2008.

One of the chief reasons for the increased spending is thought to be the competition's new £5.5billion global television deals, which have taken effect this season.

Dan Jones, partner in Deloitte's specialist Sports Business Group, said: "This summer looks set to be a record for the Premier League in gross, and quite possibly also net transfer spending.

"Clubs have already spent over £400million this summer and with several large deals looking close to completion and a number of clubs still expected to do significant business, we will likely see the £500million gross record broken by Tuesday morning.

"In a potentially record summer, it is important to consider this level of spending in the wider financial context of the Premier League.

"The 2013-14 season will be the first in which clubs will benefit financially from the increased broadcast deals and we are seeing this translate into increased spending.

"However, transfer spending this summer is still likely to be less than the total incremental revenue clubs will receive from these new broadcast deals."

The highest fees paid so far are the reported £32million Chelsea paid for Willian this week and the £30million Manchester City spent on Fernandinho earlier in the summer.

Source: PA

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