Premier League clubs obliterated their summer spending record during a blockbuster transfer window.
The competition’s 20 teams spent a total of £1.4 billion ($US1.8 billion) on new players between June 9 and August 31, a 23% rise on last year’s record of £1.16 billion, according to Deloitte.
The consultancy firm produced this graph to back up its research:
Manchester City was the Premier League’s highest-spending club, after it forked out an estimated £215 million on new signings. Tottenham Hotspur full-back Kyle Walker joined for £53 million, making him the world’s most expensive defender.
Chelsea’s outlay of £180 million, including the deadline day signing of Leicester’s Danny Drinkwater, put the team in second place in the spending ranks.
The transfer bonanza has mainly been fuelled by a massive influx of TV money. Sky and BT Sport splashed out a record £5.14 billion for Premier League TV rights in 2015. The deal kicked in during the 2016/17 season, making it the most lucrative in the Premier League’s 25-year history.
Deloitte partner Dan Jones 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.”
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