MANCITY AND SPURS LEAD THE WAY
the premiership is awash with cash and they sure know how to burn it.
Spending by Premiership clubs on new players in the January transfer window has hit a fresh all-time high of £160m according to Deloitte's sports business group. The amount may still go up because the transfer window was extended because of the bad weather so that deals in progress could be completed, but the total is already well above last year's £150m. Spending between Premiership teams made up around £105m of the £160m. Manchester City and Spurs have been the two biggest spenders. Deloittes said Manchester City have spent more than £50m during the transfer window and Tottenham around £45m. Total spending by Premiership teams in the January window again far exceeded that in other European leagues. Peter Rawnsley, director in the sports business group at Deloitte, commented. 'With the majority of their revenue streams already secured for the current season, whilst [Premier League] clubs are not recession-proof, they are relatively recession-resistant. Looking ahead, while the clubs will not be complacent, the latest transfer activity re-emphasises the financial strength and global appeal of the Premier League competition.'
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