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Sep 4, 2013

Premier League breaks transfer record

The Premier League has led its European rivals on a record-breaking summer spending spree with British clubs outlaying £630 million in the transfer window.

• Delaney: Premier League clubs: Transfer grades
Smith: Promoted clubs make hay with TV money

The previous record set by English teams was in 2008 when a combined £500 million was spent on transfers.

But led by the likes of Tottenham, Manchester City, Liverpool and, right at the death, Arsenal, the Premier League again underlined its status as the world's richest national competition.

"As the financial rewards for participation and success in the Premier League increase, so it follows that clubs are investing on the pitch to ensure they continue to benefit from the remarkable Premier League growth story," Deloitte's Dan Jones said.

However, European clubs have not faltered in their pursuit of investing in the market with clubs from the continent’s major leagues not shying away from big price-tags.

But the big buys from the continent came from Spain where Barcelona nabbed young Brazilian starlet Neymar while Madrid again broke the world record with the purchase – reported to be in the vicinity of €100 million – of Gareth Bale.

The massive influx of money into the transfer market has raised eyebrows as clubs are now under the governance of the Uefa’s new Financial Fair Play rules.

But Simon Chadwick, a professor of sports business at England's Coventry University, said despite the big deals, clubs were indeed complying with the new restrictions.

"A lot of English clubs have gone on a spending spree but they haven't breached the Financial Fair Play rules as they are only spending what they have earned," said Chadwick,

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