Transfer Spendings Hit Record High in English Premier League
Premier League clubs have shelled out a record £1.4 billion in transfers this season, according to a report Wednesday that warned of over-reliance on big Chinese spending.
Representational Image (Getty Images)
London: Premier League clubs have shelled out a record £1.4 billion in transfers this season, according to a report Wednesday that warned of over-reliance on big Chinese spending.
The Deloitte consultancy study said top-tier English sides made 40 million pounds ($50 million/46 million euros) in profit from the January transfer window, the first time they have come out of the football horse-trading in the black.
Deloitte said total gross spending by Premier League clubs for the 2016/17 season is now almost £1.4 billion ($1.76 billion/1.6 billion euros) smashing the previous record of £1 billion set last season.
The latest eye-watering outlay was "far in excess of any other league in world football", said Dan Jones of Deloitte's sports business department.
In all, the 20 Premier League clubs spent £215 million on new players during the market from January 1 until Tuesday, Deloitte said, the second-highest amount for this window since 2011.
But the Premier League still came out in the black as a whole.
"The sales of Oscar, Dimitri Payet, Odion Ighalo and Memphis Depay, as well as around £20m worth of sales to Championship clubs, have helped Premier League clubs record net receipts for the first time in a transfer window," said Jones.
"As was the case last year, it is clubs in the bottom half of the table who have driven expenditure this January, investing in their squads in an attempt to secure survival."
This month has seen the increasingly wealthy Chinese Super League flex its financial muscles with Brazil international Oscar leaving Chelsea for Shanghai SIPG in a move worth £51 million.
But Deloitte warned the days of Chinese teams splashing out on players could be coming to an end.
"The spending activity by clubs in the Chinese Super League (CSL) has grabbed many headlines in recent weeks," said Jones.
"CSL clubs have spent over £150 million so far during their current off-season, which began in November 2016.
"However, with the CFA having recently announced that tighter regulations around player transfer and salary expenditure are to be introduced, as well as imposing limits on the number of foreign players allowed, it will be interesting to see whether CSL clubs match this level of expenditure in future off-seasons."
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