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English clubs spending record amounts this summer

Published on NewsOK Modified: August 29, 2014 at 8:48 am •  Published: August 29, 2014
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LONDON (AP) — With frenetic deadline-day dealings still to come, Premier League clubs have already spent record amounts in this summer's transfer window as they benefit from increased income from broadcast revenues.

According to analysis from football finance expert Deloitte released Friday, teams in the top division have splashed out 725 million pounds ($1.2 billion) since the transfer window opened, easily beating the record — set in 2013 — of 630 million pounds (now $1.04 billion).

There are still four days to go until the window shuts, with more than 20 percent of spending in the past two years having occurred on deadline day.

Dan Jones, of Deloitte's Sports Business Group, says the factors behind the increase include "the showcase for global talent a World Cup provides" and the improved TV deals that gave the average Premier League club 25 million pounds ($41.5 million) more in broadcast revenues last season.