Thursday, 1 September 2016

Transfer Window: Premier League clubs break £1 billion barrier

Premier League clubs splashed out more than £1billion in a record-breaking summer transfer window.

The window closed with England's cash rich top divisions spending a total £1.165bn on new players, a 34 per cent increase on the previous record of £870m set last summer according to figures from the Deloitte Sport Business Group.

Arsenal's Jack Wilshire join the Cherries on loan
Four Premier League clubs competing in this season's Champions League - Arsenal, Leicester City, Manchester City and Tottenham Hotspur - had a combined gross transfer spend of about £385m - representing about a third of the aggregate gross transfer spend by Premier League clubs.

On Thursday, 25 August 2016, Premier League clubs’ gross spending stood at £880m (£685m at the same stage last year). Total transfer spending in the current window has now broken the record of £870m, set in the summer 2015 transfer window.

Premier League clubs spent £155m on the final 24 hours of the window — setting a new deadline day record — as Chelsea and Tottenham made headlines with their respective purchases of David Luiz and Moussa Sissoko.

Chelsea spent nearly £60m on the final day of the window, including £34m on former defender Luiz and £23m on left-back Marcos Alonso from Fiorentina.

Manchester City exited the window having spent over £180m on new players — more than any other club —while rivals United broke the transfer fee record by paying £89m for Paul Pogba.

"This is the fourth consecutive year the summer transfer spending record by Premier League clubs has been broken," said Deloitte Sports Business Group's Dan Jones.

"For those clubs traditionally at the upper end of the table who have been investing most significantly, their commercial revenue growth has also been a critical enabler of the increases in spending."

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