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Premier League Clubs On Pace To Spend More Than £1.165B, Set Record

Premier League clubs have spent more than £850M ($1.1B) in this summer's transfer window and are "on course" to break their record, data released by website Sporting Intelligence showed on Monday, according to Neil Robinson of REUTERS. With more than a month remaining before the close of transfer business on Aug. 31, English clubs "are again proving to be Europe's heaviest spenders" and will likely top the £1.165B "they lavished on new players last summer." Man City has spent the most, £188M ($245M) on six new players. Chelsea is the next biggest spender on £130.4M ($170M), followed by ManU on £105.8M ($137.9M), although the club said that it will make "a further two signings during this transfer window." Meanwhile, Everton, which has spent £93.4M ($121.8M), has "recouped it all, mainly by selling Romelu Lukaku" to ManU (REUTERS, 7/24).

NO WORRIES: In London, Mike Keegan reported EPL Chair Richard Scudamore "insists the spree remains sustainable." He said, "Profitability is improving. The most important thing is player costs as a percentage of turnover. We're down in the early 60 percents and we were much higher 10 years ago. Sixty percent of turnover spent on player costs is actually very manageable." Scudamore "is in bullish form, and understandably so." The latest foreign TV deals "promise incredible revenue rises" and the Premier League Asia Trophy "is the latest example of how popular the competition is around the world." Scudamore said, "We have to be realistic. Our clubs can buy any player if they wanted to. They can scout the world" (DAILY MAIL, 7/23).

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