Deloitte consultancy firm reported that English Premier League clubs spent more than GBP 500 million during the recent summer transfer window.
Including the 2008 winter transfer window, total transfer spending was around GBP 675 million, compared to GBP 531 million in the previous year. GBP 215 million were spent between the Premier League clubs in domestic transfers, a figure which represents more than 40 percent of the transfer activity during the window.
“This level of transfer spending is far in excess of spending by other European leagues,” Deloitte’s Paul Rawnsley said in a statement.
“With the majority of their revenue streams already contractually secured, English football clubs are proving resilient to the current challenging economic environment,” added Rawnsley, director of the company’s sports business group.
“While football is not recession-proof it is recession-resistant.”
Top spenders? Manchester City with nearly 80m and Tottenham with 50m (although they sold around 70m worth of players). See the full premier league transfers list here.