Premier League clubs spend record £630million for summer transfer in 2013/14 season

Premier League clubs spent a record £630million in this summer’s transfer window, according to figures published this morning.

The amount was up by 29 per cent on the £490million spent in the same period last year, Deloitte revealed, and higher than the £500m splashed out in the 2008 transfer window, as clubs took advantage of an extra share in broadcasting revenues for 2013/14.

Arsenal were the biggest spenders on deadline day, bringing in Mesut Ozil for a club record £42million from Real Madrid.

North London rivals Tottenham also spent £100million across the summer as Gareth Bale moved to Spain for a world record £85million fee.

“This is the first year that Premier League clubs will benefit financially from the league’s new broadcast deals; each club benefiting from a share of the extra £600m of revenues in 2013/14 alone,” Alex Thorpe, consultant in the Sports Business Group, explained.

“Testament to the impact this is having is in the scale of Premier League gross spending, as well as the gulf in net spending between the Premier League and other European leagues.

“Whereas many clubs around Europe have been reliant on selling players in order to spend, the financial advantages Premier League clubs enjoy has enabled net spending of £400m across the league. Many clubs, including new entrants to the league, have successfully competed in the European transfer market to attract high profile foreign talent.”

Dan Jones, partner in the Sports Business Group at Deloitte, commented: “The story of this summer transfer window is of new records: a new record for Premier League spending as well as a new world transfer record fee. Premier League clubs’ gross spending this summer is £630m, beating the previous record of £500m set in 2008.

“Whilst the sale of Gareth Bale brought £85m into the Premier League, net spending is also a record, at £400m. As the financial rewards for participation and success in the Premier League increase, so it follows that clubs are investing on the pitch to ensure they continue to benefit from the remarkable Premier League growth story.”

Source: The Mirror

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