Premier League clubs smash summer spending record

Premier League football clubs have smashed through the summer transfer window spending record with £1.17bn of spending with a week to go before the deadline.

According to analysis by Deloitte’s Sports Business Group, cash splashed out on new players has surpassed the previous record of £1.165bn set last summer.

At this stage last year, clubs had spent £865m.

Chris Stenson, consultant in the Sports Business Group at Deloitte, said: “The level of transfer expenditure in this summer’s window has been extraordinary, but when analysed in the context of record broadcast, commercial and matchday revenues, Premier League clubs are spending within their means.

“Their ability to generate these record revenues and attract the world’s very best playing talent continues to drive the Premier League’s status as the most commercially successful football league in the world.

“We expect further significant expenditure in the next seven days as clubs seek value in the market. Last summer, Premier League clubs spent around £300m in the final week of the window, more than they did throughout the entire January 2017 window.”