For the sixth consecutive year, Premier League clubs broke the bank to bring in new signings.
According to accounting powerhouse Deloitte, Premier League clubs spent a record of around $1.81 billion in transfer fees, including $271.85 on deadline day alone. Amazingly, this total could have been higher had deals for Tomas Lemar, Alexis Sanchez and Ross Barkley gone through among others.
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The summer transfer window’s total is nearly $1.3 billion more than was spent five years ago, but it’s in line with the increased revenues for clubs across the Premier League thanks to new television deals around the world. According to Deloitte, most clubs spend one-third to one-fifth of their revenues on transfer fees and this summer it was around 31 percent of revenues were spent on transfers.
Manchester City led the Premier League with $278.3 million spent on transfers this summer. Man City, Chelsea, Man United, Everton, Tottenham and Liverpool combined to spend approximately $1.109 billion in the transfer market. Arsenal, Stoke City, Burnley and Swansea City all finished in the black.
“When analyzed in the context of generating record broadcast, commercial and matchday revenues, Premier League clubs are spending well within their means,” Deloitte’s Dan Jones told the BBC. “While the transfer record for a single player has again been broken by a major European club, the Premier League’s clubs enjoy an unrivaled depth of purchasing power, as a result of the league’s relatively equal – and transparent – distribution of broadcast revenues.”