EPL transfer spending sets new record

London, Aug. 24: Premier League clubs’ spending has set a new record for a single transfer window as the historically lavish spree reached £1.17 billion on Thursday.

With a week to go until the window closes, Deloitte’s Sports Business Group say the 20 English top tier teams have shattered the previous record of £1.165 billion for one league in a single window, which was set by the Premier League last year.

Fuelled by global broadcast rights deals totalling £8.4 billion, 12 Premier League teams have broken their transfer record since the end of last season.

Liverpool’s record went on £39 million Mohamed Salah, Arsenal broke theirs for £50 million Alexandre Lacazette, while Chelsea, Tottenham and Everton set new marks with the signings of Alvaro Morata, Davinson Sanchez and Gylfi Sigurdsson respectively.

Manchester City were the biggest spenders, with boss Pep Guardiola shelling out £221.5 million, including £54 million on Tottenham defender Kyle Walker.

Manchester United manager Jose Mourinho splurged £145.8 million on three players, with the marquee recruit, Everton striker Romelu Lukaku, for a British record £75 million.

Everton are currently third in the spending chart after paying £139.9 million on new signings funded by the Lukaku sale.

Some fear the spending is unsustainable and could put the financial health of clubs at risk in the long-term.

But Deloitte consultant Chris Stenson believes the unprecedented fees are in line with reasonable expectations, given the riches available to Premier League clubs from the record broadcast deals which took effect last season.

Despite Paris Saint-Germain paying a world record £200 million to sign Brazil striker Neymar from Barcelona, the Premier League teams have easily out-gunned the other top European leagues.

There is every chance the new record will climb even higher as teams fine-tune their squads with more spending in the final days of the transfer market, which won’t reopen until January. Zlatan Ibrahimovic has rejoined Manchester United on a one-year contract after the Swedish star’s spell with the Premier League side was curtailed by a serious knee injury last season. Ibrahimovic missed the final weeks of United’s campaign after suffering ligament damage in a Europa League clash against Anderlecht in April. But United manager Jose Mourinho remained in contact with the 35year-old while he underwent his rehabilitation and the forward has now agreed to return to Old Trafford.