England’s transfer splurge passes €741m

TRANSFER spending by English clubs has exceeded €741m over the summer, around two thirds higher than the previous record of €445m spent in summer 2006, according to analysis by the business advisory firm, Deloitte.

New owners at Premier League clubs combined with the increase in broadcast payments to clubs for the 2007/08 season, are key drivers of the unprecedented rise in spending.

Paul Rawnsley, director in Deloitte’s Sports Business Group, commented: “This summer’s transfer spending by English clubs has beaten all previous records, but as Premier League clubs will receive around €445m of extra broadcast payments during the 2007/08 season, the increase in transfer spending is not a surprise.