English Premiership clubs ‘spent £485 mln on transfers’

Posted Friday, September 02, 2011 by YAHOO Sport

Player transfer spending by Premier League clubs was around £485 million ($784 mln, 549 mln euros) in the just-shut transfer window, up £120million (33 percent) on the same period last year, according to analysis by business advisory firm Deloitte.

A trypically frantic few hours before the window closed on Wednesday, saw several clubs complete last-ditch deals with Everton's Mikel Arteta one of four players to join Arsenal, while Owen Hargreaves looked to revive his career with Manchester City and Craig Bellamy returned to Liverpool.

Dan Jones, partner in the sports business group at Deloitte, said Wednesday: "Premier League clubs have spent around £485million which is significantly up on last summer and at a similar level to that seen in the busy summers of 2007 to 2009.

"This summer's spending is largely focused amongst the top end Premier League clubs most strongly competing for domestic and European success and the consequent financial rewards."

Deloitte's figures showed each of Arsenal, Chelsea, Liverpool, Manchester City and Manchester United have exceeded £50million of transfer spending in the window, which ended on Wednesday evening.

In aggregate, these five clubs have committed to around 66 percent of Premier League clubs’ transfer fees in the summer 2011 transfer window.

Premier League clubs concluded around £100million of transfer fees on deadline day, according to Deloitte.

The equivalent deadline day figure in January 2011 was around £135million, and for summer 2010 it was around £35million.

Jones said there had been a "resurgence" of transfer spending in other major European leagues, adding: "Despite domestic difficulties delaying the start of their seasons, transfer spending is considerably up amongst clubs in Serie A (Italy) and La Liga (Spain).

"As in England, in order to meet UEFA's break-even requirements, clubs will need an appropriate balance of revenue generation against these expenditures."