Big spending City help smash transfer window record

MANCHESTER City’s new-found wealth has pushed spending in the January transfer window to a record £160m.

The club, owned since late August by Abu Dhabi billionaire Sheikh Mansour, spent more than £50m alone – a record January outflow – according to figures compiled by business advisers Deloitte.

The Blues, who signed Craig Bellamy from West Ham, Wayne Bridge from Chelsea, Nigel de Jong from Hamburg and Shay Given from Newcastle United, were followed closely by struggling London club Tottenham, which spent around £45m.

Dan Jones, a partner in Deloitte’s Manchester-based sports business group at Deloitte, said: “The record level of gross spending has largely been driven by transfers between Premier League clubs (around £105m), in particular fuelled by the activity of Manchester City and Tottenham Hotspur.

“While gross transfer spending was £160m, Premier League clubs’ net spending was less than a quarter of that figure – taking into account transfer receipts from non-English and Football League clubs and transfer spending between Premier League clubs.

“The transfer of players already proven on the English stage generates money flow between the clubs, and the arrival of more star names from overseas emphasises the continuing appeal of the Premier League.”

Manchester City’s spending would have been higher still if a near £100m world record transfer deal for Brazilian superstar Kaka had not collapsed.

Deloitte said transfer spending among English Premier League clubs had been far higher than in all the other major nations, including Italy, Spain, Germany and France.

Paul Rawnsley, a director at Deloitte says top flight clubs are proving to be relatively recession proof: “With the majority of their revenue streams already secured for the current season, whilst clubs are not recession-proof, they are relatively recession-resistant. 

“Looking forward, whilst the clubs will not be complacent, the latest transfer activity re-emphasises the financial strength and global appeal of the Premier League competition.”