Premier League clubs spend record £1.4bn on summer transfers

Premier League clubs spent a record total of £1.413 billion over the course of the summer window, representing a rise of £293 million from last year.

The league confirmed the figures on its official website.

In the 2014 and 2015 summer windows, the clubs shelled out only £809.6m and £858.6m respectively.

The BBC also reports 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, is funded by the introduction of the new TV deal, which covers 2016 to 2019 and is worth £5.136bn.

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, explained it further.

“These are the biggest numbers we have ever seen but these are the biggest revenues we have ever seen.

“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,” Jones said.