Premier League Spends Over $1B, Smashes Transfer Records In Summer 2014

Angel di Maria Man UnitedLONDON — English Premier League clubs spent a record £835 million ($1.38 billion) on players during the summer transfer window, almost twice as much as any of Europe’s other top leagues.

A study by football finance expert Deloitte showed gross spending in England’s top league was up more than 30 percent on the previous record of £630 million (now $1.04 billion) set in 2013.

Spanish clubs were the second-highest spenders of the so-called “big five” divisions in Europe, with an outlay of £425 million ($700 million), Deloitte said. Italian clubs were next highest on £260 million ($430 million). Germany spent £250 million ($410 million) and France £100 million ($165 million).

Increased domestic and international broadcast deals fueled the spending by English clubs, with Manchester United paying out about £150 million ($250 million) as part of its rebuilding under first-year manager Louis van Gaal. That’s the most spent by a Premier League club in a summer window.

“We continue to see the increased resources that Premier League clubs enjoy, as a result of improved broadcast deals, translate into investment in players,” Dan Jones of Deloitte’s Sports Business Group said.

There was also a record net spend by Premier League clubs of £410 million ($680 million), only marginally higher than the previous highest from last summer with teams still having to abide by financial fair play regulations.

“With Premier League clubs in a stronger position to afford increased transfer and player costs than ever before, the key challenge remains pursuing their ambitions responsibly,” Jones said. “Regulations are now in place at both a league and continental level encouraging clubs to balance their costs with revenue.”

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Photo via Twitter/@Metro_Sport

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