Premier League clubs spent £500m over summer transfers

Premier League clubs splurged staggering 500m pounds over summer transfers: Report

Premier League clubs spent almost 500 million pounds, just short of their record 'spending spree', for strengthening their squads during the summer transfer window, according to a survey.

Financial analyst Deloitte's claimed that the total outlay was around 490 million pounds, some 10 million pounds less than the record 500 million pound summer spend of 2008 but slightly up from the 485 million pounds shelled out last year.

The biggest moves this summer included Chelsea's capture of Belgian international Eden Hazard for 32 million pounds, and Robin van Persie's 24 million pound switch from Arsenal to Manchester United.

"While the total spending this summer is still high, it should be considered in the context of increases of over 70% in the Premier League domestic broadcast deals announced earlier this year," Sky News quoted Alan Switzer, director of Deloitte's Sports Business Group, as saying.

"Once overseas broadcast deals are factored in, the average Premier League club looks set to benefit from at least an additional 25m pounds of revenue per year from next season," he added.

Deloitte's said Chelsea, Tottenham, Manchester City, Manchester United and Arsenal made up 55% of the total summer spend as the fight for the top four intensifies.

The survey showed that a total of 300 million pounds was spent on players from overseas clubs, which was a 50% increase from 2011.

Manchester City was seen as the biggest spenders at an estimated 37 million pounds, as it signed Spain midfielder Javi Garcia from Benfica for 16 million minutes before the transfer window closed. (ANI)