Skip to main content

Premier league transfer spending hits £500 million

Transfer spending in the Premier League this summer has reached £500 million, according to financial analysts Deloitte. 

The BBC cites Deloitte as noting the £500m milestone was hit last Friday, meaning the figure stands at £335m short of last summer's £835m total.

Further investment can be expected with this summer's transfer window to close on Tuesday, Sept. 2 at 6:00 p.m. 

The window's highest fee so far has been the £44m Manchester City paid to Liverpool for winger Raheem Sterling.

Manchester United have already spent a total of £83m on several big signings including Germany captain Bastian Schweinsteiger and Netherlands forward Memphis Depay, and could yet make more additions ahead of Angel Di Maria's expected move to Paris Saint-Germain.

In February, the Premier League announced a 70 percent increase in the value of its British television rights for the 2016-19 seasons with Sky and BT paying a combined £5.136 billion ($7.8bn) to show games.

Football finance expert Rob Wilson said: "A new record is likely as clubs look to benefit from the new TV deal."