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Premier League transfer spending hits £700m for first time Premier League transfer spending sets £760m record
(about 14 hours later)
Transfer spending by Premier League clubs this season has passed the £700m mark for the first time, says Deloitte. Transfer spending by Premier League clubs has set a new record of £760m this season, industry experts say.
So far, £725m has been spent in the 2013-14 season, including £95m during the current winter transfer window, which closes at 2300 GMT on Friday. Club spending in the 2013-14 season included £130m in January's transfer window, which closed at 23:00 GMT.
That is ahead of winter window spending at the same time a year ago, of £85m. That surpasses spending in last year's window of £120m, but is less than the £225m record set in 2011.
"We expect deadline day to again be a busy time for Premier League clubs," said Dan Jones of the sport business group at Deloitte. Dan Jones of the sport business group at Deloitte said spending was supported by record level of revenues driven primarily by new broadcast agreements.
"However, regardless of the amount of activity today, we have already seen the 2013-14 season set a record for Premier League transfer spending." "This gives Premier League clubs the ability to continue to invest significantly in their playing talent," he added.
'Record revenues' Manchester United and Chelsea accounted for more than 60% of the league's total spending.
Manchester United's £37.1m signing of Chelsea midfielder Juan Mata is still the biggest domestic deal this month, while Cardiff and West Ham have both been busy in the transfer market, bringing in a number of players. "Spending has again been driven by a minority of clubs," said Mr Jones. "Around half of Premier League clubs chose not to spend this month."
Mr Jones added: "It is important to put this in context; the transfer spending is supported by the record level of revenues of Premier League clubs, driven primarily by new broadcast agreements. Match packages
"This gives Premier League clubs the ability to continue to invest significantly in their playing talent." Manchester United's £37.1m signing of Chelsea midfielder Juan Mata was the biggest domestic deal this month.
Broadcasters BSkyB and BT paid hugely increased sums in summer 2012 when they secured packages of Premier League matches for broadcasting from the current, 2013-14, season. Chelsea completed a £12m move for St Etienne centre-back Kurt Zouma on Friday following their purchase of Egypt midfielder Mohamed Salah from Swiss champions Basel for a fee in the region of £11m.
Meanwhile, Fulham bought Greece international striker Konstantinos Mitroglou from Olympiakos for about £11m, one of five players signed on Friday.
Cardiff and West Ham have both been busy in the transfer market, bringing in a number of players. Crystal Palace signed five players including Wolves keeper Wayne Hennessey for £3m, and Blackpool winger Tom Ince.
On Friday, with the transfer deadline just hours away, spending had already passed the £700m mark for the first time, said Deloitte. The final total of £760m broke the previous record of £670m set in 2008-09.
Broadcasters BSkyB and BT paid hugely increased sums in summer 2012 when they secured packages of Premier League matches for broadcasting from the current 2013-14 season.
BSkyB paid a total of £2.28bn for the rights to 116 games per season from 2013-14 to 2015-16, while BT paid £736m for the rights to 38 games per season over the three-year period.BSkyB paid a total of £2.28bn for the rights to 116 games per season from 2013-14 to 2015-16, while BT paid £736m for the rights to 38 games per season over the three-year period.
That was an increase of 70% on the previous rights packages, held by BSkyB and ESPNThat was an increase of 70% on the previous rights packages, held by BSkyB and ESPN
Last year's Premier League winter transfer window saw clubs spend £120m in total. January transfer windows in the English Championship and in Scotland also closed on Friday. The Wolves striker Leigh Griffiths completed his move to Celtic for an undisclosed fee.
January transfer windows in the English Championship and in Scotland are also set to close on Friday. The Wolves striker Leigh Griffiths is in Glasgow for talks about signing for Celtic.