Business advisory company Deloitte has reported that English Premier League football clubs spent £160 million during the January transfer window. The figure is £10 million more than what was spent during the 2008 window, emphasising, says Deloitte, “the financial strength and global appeal” of the league, even in these tough economic times.
Top spenders, based on reported transfer fees, were Manchester City, at over £50 million, and Tottenham Hotspur, at around £45 million. Around £105 million – or two thirds of the league’s spend – was spent directly between Premier League clubs.
Premier League clubs’ net spending was around £35 million – a quarter of the gross spend – once income from players sold to foreign and football league clubs is accounted for.
Premier League clubs spending once again far outstripped that in other European leagues – with the 20 clubs spending more than the disclosed amounts spent by all top tier clubs in the other ‘big five’ European Leagues – France, Germany, Italy and Spain – put together.
The clubs' heavy spending is at odds with the behaviour of many businesses in the recession environment. “With the majority of their revenue streams already secured for the current season, whilst clubs are not recession-proof, they are relatively recession-resistant,” said Paul Rawnsley, director at Deloitte’s Sports Business Group.
