Premier League transfer spending to hit £1bn this season

Premier League clubs have a reputation for spending enormous amounts of money, but this year for the first time ever seasonal spending has surpassed the £1bn mark, The Mirror reports.

City were possibly due a quiet January after a £101.3 million net spend in the summer transfer window.

“The promise of the new broadcast deal for Premier League clubs from next season onwards and the threat of missing out through relegation is contributing to clubs investing in an attempt to stay in the league”, said Dan Jones from Deloitte’s Sports Business Group.

Total spending for the season according to Deloitte.

The English transfer window will close at 11pm tonight, as will the windows in Spain and France.

No Premier League club received less than 64 million pounds when the money was shared out last season with Aston Villa, who narrowly avoided the drop in 17th place, taking 68.6 million.

They might be struggling down the other end of the ladder but Newcastle United have ensured they sit at the top of at least one Premier League table.

Norwich made the most new signings with eight players coming in while Bournemouth, Sunderland, Watford and Newcastle all brought in five. It’s also interesting to see some of the top teams in the Championship (second tier) spending, too.

Deloitte estimates that £130 million has been spent so far in the January transfer window, which takes the total sum for the season beyond £1bn for the first time in history. “This is also a reaction to the revenues on offer for promoted teams next season”.

Stoke, meanwhile, paid the highest single fee as they recruited Porto midfielder Giannelli Imbula for £18.3m just minutes before the window closed on Monday night.

In the Premier League of 2016, it is fear of the void, rather than the pursuit of glory, that is driving spending to new heights.