Premier League spending plummets 01/09/2010 |
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Premier League clubs spent 22 per cent less in this summer’s transfer window than they did last year, according to a new report.
The 20 clubs in England's top flight spent a total of £350m this summer, down from £450m last year, business analysts Deloitte said.
Manchester City made up 36 per cent of that figure when the transfer closed at 6pm on Tuesday (August 31).
"In general, clubs are more keen to spend money on wages than on transfers," said Paul Rawnsley, director of the sports business group at Deloitte.
Among the many factors affecting clubs' spending, Rawnsley cited Portsmouth’s financial problems, higher income tax rates on players' wages, and a weaker pound making foreign transfers more expensive.
Meanwhile, a number of high-profile players moved on free transfers this summer, including Joe Cole from Chelsea to Liverpool and William Gallas from Arsenal to north London rivals Tottenham.
This season also saw the introduction of new rules stating that clubs must register a squad with a maximum of 25 players, including eight "home-grown" players.
A home-grown player must have been registered domestically for at least three years before his 21st birthday.
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