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Rich English clubs break €1bn in transfer fees for first time

Claudio Bravo’s move to Manchester City has seen the league break the record set last year.

Claudio Bravo.
Claudio Bravo.
Image: Mike Egerton

BIG-SPENDING ENGLISH clubs have shattered the Premier League’s transfer spending record after the total splashed out reached €1bn (£880m) today.

Today, shortly after Manchester City’s signing of Barcelona goalkeeper Claudio Bravo was confirmed, the Premier League clubs’ gross spending in the current transfer window had topped the record of £870m set last year.

According to financial services firm Deloitte, the figure is likely to pass £1bn (€1.17bn) by the time the current window closes next Wednesday as the 20 top-flight teams make the most of the riches reaped from lucrative new television contracts.

Manchester United have been among the biggest spenders, with boss Jose Mourinho paying a world record £89m (€104m) to sign France midfielder Paul Pogba from Juventus, while local rivals City have paid more than £150m (€175m) to revamp their squad for new manager Pep Guardiola.

Dan Jones, partner and head of the Sports Business Group at Deloitte, said: “This is the fourth summer in a row where we have seen record-breaking spending by Premier League clubs.

“Buoyed by the prospect of increased revenue from the new broadcast deals, clubs’ gross spending has now passed last year’s record of £870m.

“This is particularly striking considering we still have the best part of a week to go before deadline day.

“With the third round of games in the new Premier League season to come this weekend and a number of clubs keen to strengthen with a view to competing in European and domestic cup competitions, total spending in this window will likely break the £1billion barrier for the first time.”

© – AFP, 2016

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