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Premier League clubs have smashed the summer transfer window by spending a whopping £1.43bn, analysis from Deloitte has shown.
Figures from Deloitte’s sports business group show that gross transfer expenditure totalled £1,43bn, a new record and up 23 per cent on the previous year’s record.
The record spending by Premier League clubs has surpassed £10bn since the first transfer window in January 2003.
Dan Jones, Partner in the Sports Business Group at Deloitte, said: “Premier League clubs have broken their own record for transfer expenditure for the sixth summer in a row.
“With the continued growth in clubs’ revenues, principally from broadcast rights, it is no surprise that Premier League clubs have continued to maintain their leading position in the world’s player transfer market.”
He said that despite the rise clubs were still spending within their means and that Premier League clubs’ revenue unlikely to decrease in the foreseeable future, spending is likely to continue to rise.
The highest-spending clubs were Manchester City at £215m, Chelsea at £180m, followed by Manchester United and Everton who both spent £145m.
Elsewhere Championship clubs spent £195m on player transfers in the summer 2017 transfer window, a decrease from the £215m spent in 2016.
In Europe the highest spending league was Series A, with a gross spend of £735m, followed by Ligue 1 with £590m, the Bundesliga with £510m and La Liga with £500m.
Jones added: “While the transfer record for a single player has again been broken by a major European club, the Premier League’s clubs enjoy an unrivalled depth of purchasing power, as a result of the League’s relatively equal – and transparent – distribution of broadcast revenues.
“Premier League clubs continue to benefit from a virtuous circle: investing record revenues to acquire some of the best playing talent from around the world, which in turn helps the Premier League secure substantial improvements in domestic and international broadcast deals, and helps individual clubs maximise commercial revenues and matchday attendances through stadium improvements and similar long-term investments.”