For the first time in history, the transfer spending in the English Premier League went beyond £1 billion ($1.43 billion, 1.3 billion euros) in a bid to avoid missing out of the huge television money bonanza in 2016
A record £965m was spent in 2014-15, but that figure has already been beaten, with clubs having until 23:00 GMT on Monday to sign further players.
England’s 20 elite clubs have collectively spent more than £1 billion on new players in the season’s two transfer windows, financial consultants Deloitte revealed as the mid-season transfer deadline neared on Monday.
“We’ve seen Premier League clubs again use the January window to invest significantly in playing talent,” said Dan Jones from Deloitte’s Sports Business Group.
“With a day left, the total gross spending this season has already reached £1 billion for the first time.”
“Last January saw £45 million spent by Premier League clubs on the final day of the transfer window and with further spending expected over the coming hours, Premier League gross transfer spending looks set to comfortably exceed the £1 billion mark for the 2015-16 season.”
English top-flight clubs broke new ground by shelling out £870 million on new talent in the 2015 close-season transfer window – a rise of four percent on the previous record, established the previous summer.
Together they had splurged £130 million on players prior to Monday’s final day of trading, tipping Premier League spending into 10-figure territory and further confirming England’s status as football’s financial powerhouse, where 17 of the world’s 30 richest clubs reside according to the latest data.