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| Premier League transfer spending hits £750m mark | Premier League transfer spending hits £750m mark |
| (about 7 hours later) | |
| Premier League clubs have spent £750m so far on new players during the summer transfer window, having broken their previous record of £630m set last year. | Premier League clubs have spent £750m so far on new players during the summer transfer window, having broken their previous record of £630m set last year. |
| Analysis from Deloitte shows that of the money spent so far, £480m has gone overseas, £210m to Premier League clubs and £60m to Football League teams. | Analysis from Deloitte shows that of the money spent so far, £480m has gone overseas, £210m to Premier League clubs and £60m to Football League teams. |
| The transfer window will close at 23:00 BST on Monday, 1 September. | The transfer window will close at 23:00 BST on Monday, 1 September. |
| It is also the closing transfer deadline day in the English Football League, and in the Scottish leagues. | It is also the closing transfer deadline day in the English Football League, and in the Scottish leagues. |
| Dan Jones, partner at Deloitte's Sport Business Group, said that there was still potential for further deadline day deals. | Dan Jones, partner at Deloitte's Sport Business Group, said that there was still potential for further deadline day deals. |
| "There are a number of factors contributing to this summer's spend, including the showcase for global talent a World Cup provides," he said. | "There are a number of factors contributing to this summer's spend, including the showcase for global talent a World Cup provides," he said. |
| "However, one of the main drivers of Premier League spending continues to be the increased resources clubs now have as a result of improved broadcast deals." | "However, one of the main drivers of Premier League spending continues to be the increased resources clubs now have as a result of improved broadcast deals." |
| 'Liquidity in market' | 'Liquidity in market' |
| Simon Chadwick, professor of sport at Coventry University, said that Uefa's Financial Fair Play (FFP) rules might also be playing a part in the increased spending on transfers. | Simon Chadwick, professor of sport at Coventry University, said that Uefa's Financial Fair Play (FFP) rules might also be playing a part in the increased spending on transfers. |
| "It is ironic that we are seeing this spending given that FFP was supposed to bring a measure of caution to club spending," said Prof Chadwick. | "It is ironic that we are seeing this spending given that FFP was supposed to bring a measure of caution to club spending," said Prof Chadwick. |
| "But it may be that clubs were holding back on transfer spending in the past couple of seasons, until they saw clear signs from Uefa about what was acceptable and what was unacceptable. | "But it may be that clubs were holding back on transfer spending in the past couple of seasons, until they saw clear signs from Uefa about what was acceptable and what was unacceptable. |
| "The big threats of taking clubs to court of banning them from European competition have not really materialised, and apart from Manchester City and PSG, clubs have pretty much come out of it unscathed." | "The big threats of taking clubs to court of banning them from European competition have not really materialised, and apart from Manchester City and PSG, clubs have pretty much come out of it unscathed." |
| In addition, he said that the increased spending could be a knock-on effect of major clubs in Europe such as Real Madrid, Barcelona, and Manchester United paying out large sums for individual players. | In addition, he said that the increased spending could be a knock-on effect of major clubs in Europe such as Real Madrid, Barcelona, and Manchester United paying out large sums for individual players. |
| They have paid, respectively, £60m, £75m, and £59.7m, for James Rodriguez, Luis Suarez, and Angel Di Maria. | |
| "They have introduced liquidity into the market, which is trickling down across the European leagues. For example, Liverpool have been beneficiaries of the trickle down effect," he said. | "They have introduced liquidity into the market, which is trickling down across the European leagues. For example, Liverpool have been beneficiaries of the trickle down effect," he said. |