August 4 – With just under a month to go until the summer transfer window slams shut on September 1, spending in the Premier League has reached £500 million.
That is still £335 million short of last year’s record-breaking £835 million but experts are predicting another eye-watering total as a result of massive television income.
Raheem Sterling’s move from Liverpool to Manchester City £49 million leads the way while huge investments have been made by Liverpool and Manchester United, the latter having spent £83 million on four players.
In theory spending is supposed to be kept in check to stay in line with Financial Fair Play but clubs are already taking advantage of the 70% increase in the value of its British television rights for three seasons from 2016-17 after Sky and BT paid a combined £5.136 billion to show games.
Under the new deal, even the bottom club will pocket £99 million per season with the champions earning more than £150 million in prize money, even before extra money is paid for featuring in a TV match.
Football finance expert Rob Wilson told the BBC: “A new record is likely as clubs look to benefit from the new TV deal.”
“What’s driven clubs to spend, is not necessarily just Premier League money, but BT entering the Champions League market.”
Wilson says that although a new record looks set to be broken this summer, clubs’ net spend might be down as they seek to stay within FFP rules.
“We are seeing clubs being sensible, partially because of FFP,” Wilson added. “Fiscal responsibility is becoming routine, and although clubs were resistant before, now they are seeing the benefit of being more frugal.”
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