Menu
Finance

Premier League Sets New Transfer Record Ahead Of Wednesday Night Deadline

English Premier League clubs "have broken all records to sign players this summer and the big spending will not stop until the transfer window slams shut on Wednesday night," leaving the expensively assembled teams to "do battle on the pitch," according to Murad Ahmed of the FINANCIAL TIMES. The three-month period when clubs can buy closes at 11pm BST, "with the rush to acquire players expected to reach its zenith on the final day." According to Deloitte, the sum splashed out on players by 9am on Tuesday was £925M ($1.2B), "already exceeding the previous peak" of £870M ($1.14B) spent during the same period last season. By 8:30am on Wednesday the figure had risen to £1B ($1.31B). The sales have been fueled by "bumper broadcasting revenues, stiff competition at the top of the league and a host of new managers urging club owners to spend to secure success." These factors led to the "world-record signing" of Paul Pogba for up to €110M ($123M) by ManU from Italy’s Juventus this month. It was "the largest acquisition by a Premier League club during a bumper summer transfer window." On Tuesday, Arsenal signed striker Lucas Pérez and is expected to complete the transfer of defender Shkodran Mustafi on Wednesday, for a combined fee of more than £50M ($65.7M). Asked last week how much English clubs would spend this summer, Arsenal Manager Arsène Wenger said, "A billion? Higher than that. I don’t know the final level but I’m convinced there are many, many clubs in England who have a big amount of money available who have not spent yet ... you will be amazed" (FT, 8/31).

LEADING THE WAY: In London, Jack de Menezes reported Man City saw the Pep Guardiola era "get off to an expensive start as the former Bayern Munich and Barcelona manager sanctioned moves" for Ilkay Gundogan, John Stones and Leroy Sane, among "many others." The club has spent over £177M ($232M) this summer to "surge ahead" of its rivals as the highest spenders. Wenger "bowed to pressure from fans and spent large this summer," having moved early to sign Granit Xhaka from Borussia Monchengladbach. The Gunners have spent around £90M ($118.2M) in the transfer window (INDEPENDENT, 8/31). The BBC reported "some managers have complained that British clubs are being asked to pay too much for players on the back of the TV deal." Chelsea Manager Antonio Conte last week said that the market was "crazy," and that he was being asked to pay £50M ($65.7M) for "medium players" (BBC, 8/31).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2016/09/01/Finance/EPL-Transfer-Record.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2016/09/01/Finance/EPL-Transfer-Record.aspx

CLOSE