Premier League total summer spend reaches record £1.413 billion
Premier League clubs spent a record total of £1.413 billion over the course of the summer window, a rise of £293 million on last year's window.
The league announced the figures on its official website, marking another significant rise, with clubs having spent only £809.6m and £858.6m respectively in the 2014 and 2015 summer windows.
Net spend -- in which the amount raised through sales is subtracted from purchases -- also continued to rise to a total of £665m, having been £635.6m in 2016, £432.6m in 2015 and £386.5m in 2014.
The BBC also reported that clubs spent a record £210m on transfer deadline day, with Alex Oxlade-Chamberlain, Danny Drinkwater and Mamadou Sakho representing Thursday's biggest deals.
The increase in spending comes after the introduction of the new TV deal, which covers 2016 to 2019 and is worth £5.136bn. The Premier League's forecasted figures showed the collective revenue across the clubs is predicted to reach a new high of £4.514bn for 2017, up from a forecasted £4.429bn last year.
In 2014 and 2015, before the TV deal, official revenue was £3.368bn and £3.648bn respectively.
Dan Jones, partner and head of the Sports Business Group at Deloitte, told The Times that the continued increase in spending was logical.
"These are the biggest numbers we have ever seen but these are the biggest revenues we have ever seen," Jones said. "It is absolutely not out of step on previous years and we don't anticipate revenues going down any time soon. I was asked in the mid-1990s, on the back of Euro '96, if this was sustainable and if the bubble was going to burst, but the fundamentals remain very strong."
Figures released in April showed Premier League clubs had achieved record revenues but posted overall pre-tax losses in 2015-16, but Jones said at that time that it was "due to a small number of one-off 'exceptional' costs" and that he expected a return to profitability when the figures for 2016-17 emerge.
Reflecting on the new figures, he added: "Importantly, and when analysed in the context of generating record broadcast, commercial and matchday revenues, Premier League clubs are spending well within their means.
"For the last 15 years, annual transfer spending has remained within the range of between a fifth and a third, and averaged at around a quarter, of total revenues.
"With Premier League clubs' revenue showing no sign of decreasing in the foreseeable future, we would expect to see spending continue to rise."
The fall in sterling's value against the euro following Britain's vote to leave the European Union cost Premier League clubs an additional £105m in transfer fees this summer, according to research by Open Britain.
The pro-EU campaign group has analysed the transfers of the 43 players bought from European teams and worked out how much extra they had to pay because of sterling's decline since the June 2016 referendum.
Manchester City, Chelsea and Spurs were the worst hit -- each shelling out an additional £10m on players than they would have done pre-referendum, as the value of a pound has fallen from €1.31 14 months ago to €1.08 today.
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