Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


English clubs lead the way in summer spending spree

02 September 2014, 14:15

London - English Premier League soccer clubs spent a record 835 million pounds ($1.4 billion) on hiring players during the summer transfer window as they reinvested cash from the latest round of broadcast deals.

That total was almost double the 425 million paid out by teams in Spain's La Liga, the next highest spending country, according to figures released by business services group Deloitte on Tuesday.

The Premier League generates more money than any domestic soccer competition while Spain is home to Real Madrid and Barcelona, the two clubs who enjoy the highest revenues thanks to the way television cash is distributed.

Manchester United, English champions a record 20 times, spent around 150 million pounds as new manager Louis van Gaal tries to ensure there is no repeat of last season's disappointing seventh place finish.

Read more: Premier League deadline day transfers

Teams in Europe's main leagues had until late on Monday to finalise their squads for the next few months, leading to frenzied trading in the final few hours of the transfer window. Clubs cannot buy new players again until January.

"We continue to see the increased resources that Premier League clubs enjoy, as a result of improved broadcast deals, translate into investment in players," said Deloitte's Dan Jones.

He warned clubs of the need to ensure they did not overspend in the quest for a place in the European Champions League or to retain their spot in the Premier League.

"The key challenge remains pursuing their ambitions responsibly," he said.

"We hope that while increased revenues continue to allow the league to attract top players, they will also result in a more profitable picture across the league in the years to come."

Read more: Top 10 Premier League transfer window deals

Competition in Britain between BSkyB and BT has driven up the value of television rights, while the Premier League also benefits from lucrative TV deals around the rest of the world.

The average Premier League team received an additional 25 million pounds in TV money in 2013-14, the first fruits of a new three-year agreement.

English clubs are confident that TV revenues will remain buoyant in future contracts and have spent accordingly.

"There is this feeling that they can spend today based on what they will get tomorrow," said Simon Chadwick, professor of sports business at Coventry University in central England.

He also said the World Cup in Brazil this summer had also driven the market, providing a showcase for the top players.

"In the aftermath of every World Cup, you always get this spike in transfer activity," he said.

Two of the biggest headline makers from the World Cup moved to Spain, deals which helped to finance other moves in a ripple effect across the continent.

Colombian James Rodriguez, top goalscorer at the World Cup, joined Real Madrid from Monaco for some 80 million euros ($105 million), while Uruguay's Luis Suarez, thrown out of the tournament for biting an opponent, moved to Barcelona from Liverpool for around 65 million pounds.

Away from England and Spain, spending by teams in other top European leagues was more muted. It totalled 260 million pounds in Italy's Serie A, 250 million in the German Bundesliga and only 100 million in France's Ligue 1.

For the latest on national news, politics, sport, entertainment and more follow us on 
Twitter and like our Facebook page!

- Reuters


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Wilson Ochieng
DP Ruto accuses Raila of selling ...

DP Wiliam Ruto has castigated Raila Odinga for seeking western support to fund his 2017 election bid. Read more...

Submitted by
William Korir
Peter Kenneth announces Uhuru 201...

Peter Kenneth has announced that he will support President Uhuru Kenyatta in the 2017 elections. Read more...

Submitted by
Wilon Ochieng
Labour Party to dump both Jubilee...

The Labour Party of Kenya is likely to avoid supportoing both the CORD and Jubilee factions during the 2017 General Elections. Read more...

Submitted by
William Korir
Ukambani MP quits Jubilee, to run...

An Ukambani MP has quit the Jubilee Party, citing voter apathy as his reason behind leaving the ruling coalition. Read more...

Submitted by
Victor Tinto
Government launches probe into Po...

The government has launched an inquiry into the circumstances that could have led to two National Police Service helicopter accidents in August and September this year. Read more...

Submitted by
Wilwon Ochieng
Deputy Governor's ally found with...

The EACC has recovered KES 2 million in fake currency from a close ally of Deputy Governor for Tharaka Nithi Eliud Mati. Read more...