It might have seemed like a quiet January transfer window compared to previous ones, but when all was said and done, it was a record breaking one as Premier League spending in a single season has gone over £1B for the first time this term.
Fueled by a massive TV contract, Premier league clubs spent £172.65m in January to go over the billion pound mark for the first time in league history.
With the new TV contract expected to be worth £100m for each Premier League club next season the cost of relegation has never been more expensive.
It is the battle for the TV riches that fueled the January transfer spree with the clubs in the Premier League’s bottom six accounted for £90m, while the Championship’s leading sides were responsible for 70 per cent of the £35m spent at that level.
Dan Jones, partner in the Sports Business Group at Deloitte, said: “Premier League clubs have chosen to spend significantly in this year’s January transfer window.
“A total spend of (almost) £175m this window has contributed to Premier League clubs passing the £1billion threshold for spending in a season for the first time.
“Notably, this January’s spending has been driven in large part by clubs in the bottom half of the table.
“The new broadcast deal for Premier League clubs from next season and the threat of missing out through relegation is contributing to clubs investing in an attempt to stay in the league.”
It was relegation threatened Newcastle United spent the most money in January, paying out £29m as they brought Andros Townsend, Jonjo Shelvey and Henri Saivet to St James’ Park. The Magpies’ outlay means they spent more than the 20 clubs in La Liga combined.
Norwich made the most new signings with eight players coming in while Bournemouth, Sunderland, Watford and Newcastle all brought in five.
Indeed, only Manchester United, Tottenham and bottom side Aston Villa failed to bring in any reinforcements in the biggest January window for five years.
Premier League cClubs’ January Transfer Spend
West Ham £3.75m
Man City £0.15m
Crystal Palace £0m
West Brom £0m
Aston Villa £0m
Man Utd £0m