English Premier League clubs spent a record $980 million during this summer’s transfer window, according to figures published by Deloitte, smashing the previous record of $778 million spent during the summer of 2008. So what’s the reason behind the massive increase? Deloitte Analyst Alex Thorpe claims it’s all about the new TV deals.
“This is the first year that Premier League clubs will benefit financially from the league’s new broadcast deals; each club benefiting from a share of the extra £600m of revenues in 2013/14 alone,” Thorpe explained. “Testament to the impact this is having is in the scale of Premier League gross spending, as well as the gulf in net spending between the Premier League and other European leagues.”
He added: "Whereas many clubs around Europe have been reliant on selling players in order to spend, the financial advantages Premier League clubs enjoy has enabled net spending of [$622 million] across the league. Many clubs, including new entrants to the league, have successfully competed in the European transfer market to attract high profile foreign talent."