Big spending clubs shatter Premier League transfer record

London (AFP) – Big spending English clubs have shattered the Premier League’s transfer spending record after the total splashed out reached £880 million ($1.1 billion, 1 billion euros) on Thursday.

By 1500 GMT, shortly after Manchester City’s signing of Barcelona goalkeeper Claudio Bravo was confirmed, the Premier League clubs’ gross spending in the current transfer window had topped the record of £870m set last year.

According to financial services firm Deloitte, the figure is likely to pass £1 billion by the time the current window closes next Wednesday as the 20 top-flight teams make the most of the riches reaped from lucrative new television contracts.

Manchester United have been among the biggest spenders, with boss Jose Mourinho paying a world record £89 million to sign France midfielder Paul Pogba from Juventus, while local rivals City have paid over £150 million to revamp their squad for new manager Pep Guardiola.

Dan Jones, partner and head of the Sports Business Group at Deloitte, said: “This is the fourth summer in a row where we have seen record-breaking spending by Premier League clubs.

“Buoyed by the prospect of increased revenue from the new broadcast deals, clubs’ gross spending has now passed last year’s record of £870m.

“This is particularly striking considering we still have the best part of a week to go before deadline day.

“With the third round of games in the new Premier League season to come this weekend and a number of clubs keen to strengthen with a view to competing in European and domestic cup competitions, total spending in this window will likely break the £1billion barrier for the first time.”