Premier League Clubs Curb Transfer Spend
Premier League clubs spent around £60m in the January transfer window, according to analysis by Deloitte, a reduction of 70% on the record level of £225m in January 2011.
Dan Jones, partner in the sports business group at Deloitte, said: 'After last year’s bout of big money transfers that drove the record total spend of £225m, January 2012 has seen a more sober level of spending amongst Premier League clubs.
'In the decade since the introduction of transfer windows, January has typically been a relatively quiet window with total spending driven by a few high value transfers, as was certainly the case with the chain of events on last year’s deadline day. The £60m spent in January 2012 is back to a similar level as the January windows in 2004 to 2007, and still ahead of the investment in players by top division clubs in other European leagues.'
Commenting on the downturn in transfer window activity, Jones added: 'As clubs are now in the reporting period that will count towards the first assessment for UEFA’s financial fair play break-even requirement, their comparative restraint is indicative of an overriding reflection on spending levels.
'The focus on football’s future financial sustainability is more prevalent in Europe than at any time in the past 20 years and, going forward we remain keen to see that translated into a better balance between revenue and expenditure.'
The top spenders were Chelsea, Queens Park Rangers and Newcastle, together contributing over half of the total spending. Last year, around 80% of the total spending of £225m was concentrated across just four clubs (Chelsea, Liverpool, Aston Villa and Manchester City).
When Deloitte publishes the firm's Football Money League later this month, it is set to confirm that several Premier League clubs are amongst the ‘Top 20’ highest revenue generators in the world.
- Big Four Supports Mandatory Reporting of Ethnicity Pay Gap
- Victims of Investment Scams Lost Average of £29,000
- Paul May Resigns as CEO of Café Chain Patisserie Valerie
- South Korean Financial Regulator Accused Samsung BioLogics of Accounting Violations
- ACCA Publishes Report on Emotional Intelligence Important for Accountants to Survive in the Modern Workplace
- SEC Urges Companies to Focus on Employing Better Accounting and Audit controls against Cyber Threats
- Uncertainty Surrounding Brexit Results in Drop of Confidence in the UK Economy