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SBD Global/September 2, 2014/Finance
English Premier League Club's Summer Transfer Spending Hits $1.2 Billion Mark
Published September 2, 2014
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BREAKING THE BARRIER: Also in London, Ben Rumsby wrote breaking the £1B ($1.7B) barrier in the summer window alone "would require cheques to be written to the tune of almost a quarter of that figure today"-- but the "desperation of many Premier League clubs meant it could not be entirely ruled out." The "FFP time bomb threatening to engulf" Queens Park Rangers thanks to its overspending during its last top-flight campaign "is proving no deterrent" to it throwing money at another survival battle. Its £26.5M ($44M) "is more than double wagered by fellow promoted sides Leicester City and Burnley combined" (TELEGRAPH, 8/31). In London, Jack de Menezes wrote with Falcao set to move to Old Trafford on a season-long loan, ManU’s spending this summer will rise to just more than £141.7M ($235M) -- "and that figure will increase further" when the £14.25M ($24M) deal for Daley Blind is confirmed. Even though ManU Exec Vice Chair Ed Woodward announced that ManU had between £150M-£200M ($249M-$332M) to rebuild the squad this summer, "few will have expected such major moves for the likes of Di Maria and Falcao, although fans of the 20-time English champions remain concerned that unless a central midfielder and defender is signed before the clock strikes zero, they will endure a second straight year out of the Champions League" (INDEPENDENT, 9/1).