The Cutter looks at how and why the transfer window spending record was smashed this week.
It’s been a mad trolley dash for Premier League clubs this year, who collectively splashed out £835 million by close of business on Monday, when the transfer window closed. This whopping amount means that last year’s collective spend of £630 million has paled into insignificance, by way of comparison.
Some of the bigger deals have broken British spending records. Manchester United spent a cool £59.7 million, signing Argentinian-born Real Madrid winger, Angel Di Maria. Additionally, Monaco’s Radamel Falcao, also joined the club in £6 million loan deal, which provides the club with the option to sign him permanently for £43.5 million next summer, the BBC reports.
An article by City Index on Tuesday, reported that this summer’s spending spree from Manchester United is the biggest spend on record by a Premier League club. They splashed out £150 million on altogether, in-line with their priority of getting back into the Champions League.
Record breaking spends
A partner at Deloitte’s Sport Business Group, Dan Jones, told the BBC earlier this week that the World Cup could be held partially responsible for this year’s phenomenal spending spree. “There are a number of factors contributing to this summer’s spend, including the showcase for global talent a World Cup provides” he told the BBC on Tuesday.
He went on to explain that last year’s £630 million spend had already broken records and the trend for increasing spends on transfer deadline day could be set to continue year on year. “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” he said.
Money in the bank
With more money to play with thanks in part to hugely increased money from TV contracts, it shouldn’t come as too much of a surprise that clubs are being flamboyant with their finances. Typically, Premier League clubs receive approximately £30 million more than they did in 2012-13, according to an article in The Telegraph earlier this week. What’s more, the bigger UEFA television contracts set to take hold next season only suggest that we can expect more increased spending in the years to come.