Premier League summer spending lowest in four years |
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English Premier League clubs spending in this summer’s transfer window has decreased 22 per cent on last year to £350 million – the lowest since £263 million in 2006.
According to a study by consultancy firm Deloitte, Manchester City accounted for 36 per cent of this summer’s spending, paying £126 million in transfer fees. “In general, an absence of new owners and clubs striving to improve their financial balance has diminished the vibrancy of the transfer market,” said Dan Jones, a Partner in the Sports Business Group at Deloitte. The top European leagues combined have curbed their transfer investment by up to 40 per cent this summer compared to last year. “One of the main reasons for this is that clubs are striving to bring a better balance in the amount they spend particularly on player wages and transfer fees,” Paul Rawnsley, a Director with the Sports Business Group told news agency Reuters. “Maybe UEFA’s fair play financial regulations have helped encourage this financial restraint,” he added. The new regulations will limit external investment from owners and require clubs to break even over a three-year period. |
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