Published August 19, 2013
Man City's Jesús Navas is among those who have put EPL transfer spending on a record pace.
The latest football transfer figures from Deloitte show that "the big money owners continue to exercise their financial muscle," according to Patrick Mathurin of the FINANCIAL TIMES. As a result, this year "could be on track to break the 2008 spending record." Gross Premier League transfer spending so far is close to £370M ($578M), a 50% increase on the same period in '12. Last year’s total summer transfer spend reached £490M, just short of the record £500M in '08, and this year is only £100M ($156M) or so short of breaking that figure. The "average transfer spend on deadline day, the last day of the window, is about £100M in itself." There’s more. Net transfer spend, which looks at the amount that flows to overseas clubs and Football League clubs, "is also up hugely" -- about 75% on the same period last year. Deloitte's Sports Business Group "points out that this is a significant uplift given last year’s net spend was a record £250M." It "is not just the big clubs driving volumes." Cardiff City and Hull City "are also digging into their pockets." The newly promoted clubs’ spending is up 70% on last year, as clubs "stake ever-more on the hope of retaining their Premier League status" (FT, 8/17
). In London, Neil Ashton reported EPL CEO Richard Scudamore "has admitted that he is powerless to prevent the soaring salaries in the top flight." He said, "It’s inevitable. It will not go on across the board, but you will always see individual players that clubs are going to push the boat out to keep." Scudamore claimed that Premier League clubs "are far better organised financially than they were when he became chief executive 14 years ago" (DAILY MAIL, 8/15