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Premier League transfer spending set for new record Premier League transfer spending sets new record
(about 11 hours later)
Premier League football clubs look set to break the summer transfer window spending record, according to analysis from Deloitte. Premier League football clubs have broken the summer transfer window spending record, according to analysis from Deloitte.
Clubs have so far spent £790m in the current window, just short of the £835m record set last year. Clubs in the English top flight spent a total of £870m, up from the £835m record set last year.
With a number of deals set to go through on deadline day, the record could be beaten easily. The transfer window opened on 1 July and closed at 18:00 UK time on Tuesday.
Confirmation of final spending will be announced later on Tuesday, after the window closes at 18:00 UK time. Manchester City was the biggest-spending club, agreeing to pay about £160m for new talent, which was a record for a single club.
Net transfer spending - the amount of money that flows into Football League clubs and overseas - currently stands at £400m. "This summer has seen another record level of transfer spending, as Premier League clubs continue to use increases in their revenue to invest in playing talent," said Alex Thorpe from the Sports Business Group at Deloitte.
The transfer window in England, Scotland and Wales opened on 1 July. "Total spending in 2015, across both the January and summer windows, is also a new record, reaching the £1bn mark for the first time."
"Last year we saw £85m of spending on deadline day and with further business expected over the coming hours, it looks set to be another record summer of spending for the Premier League," said Alex Thorpe, from Deloitte's Sports Business Group.
Increasing domestic and overseas broadcast revenue was the main driver behind rising spending on players, he added.Increasing domestic and overseas broadcast revenue was the main driver behind rising spending on players, he added.
Manchester United are reported to be on the verge of a deal for teenage French striker Anthony Martial from Monaco for £36m, which would take total Premier League spending to £826m, just £9m short of the record. "Looking across Europe, Premier League clubs' gross and net spending this summer is more than double that of any other European league."
They have already already signed Memphis Depay for £31m (from PSV Eindhoven), Morgan Schneiderlin for £25m (Southampton) and Bastian Schweinsteiger for a reported fee of £14.4m (Bayern Munich).
Rivals Manchester City have also been big spenders, with deals for Raheem Sterling for £49m (Liverpool), Nicolas Otamendi for £32m (Valencia) and Kevin de Bruyne for £55m (Wolfsburg).