Transfer deadline day: Premier League spending reaches £1.165bn News

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Transfer deadline day: Premier League spending reaches £1.165bn

By Daily Sports on September 1, 2016

Premier League clubs spent more than £155m on transfer deadline day as the summer window outlay reached a record £1.165bn.

Teams had already spent a combined £1.005bn as of 08:30 BST on Wednesday, shattering last year’s record £870m.

Thirteen top-flight teams broke their own transfer records.

The 20 clubs in the Premier League have benefited from a record £5.1bn television deal which came into effect this season.

“As has been the case for a number of years now, the increases in broadcast revenue, with the 2016-17 season being the first of the new broadcast deal cycle, is the principal driver of this spending power,” said Dan Jones, a partner at financial analyst Deloitte.

While this year’s figure of £1.165bn easily broke the record set 12 months ago, it dwarfed the £215m spent during the first window in the 2003-04 campaign.

Such financial strength owes much to the record £5.136bn domestic TV deal, which was more than £2bn larger than the previous contract from 2013 to 2016.

Ex-England winger Trevor Sinclair said: “There’s so much money in it for a reason – supply and demand.

“People demand to see the Premier League. If anyone is going to get the financial gain, surely it has to be the players – they are the ones who make it happen.” (BBC)

•Photo shows Paul Pogba, who broke the transfer record to join Manchester United.

Source Daily Sports

Posted September 1, 2016