Transfer spending sets new record

Television money has fuelled a rise in transfer spending by English clubs from €450 million last summer to almost €800 million.

The figures, which include all Premier League and Football League clubs, come from business advisory firm Deloitte, who attribute the 60 per cent rise in spending to the huge increase in broadcasting revenue from the start of the 2007-08 season and new owners buying into Premier League clubs.

Paul Rawnsley, a director in Deloitte's Sports Business Group, said: "This summer's transfer spending by English clubs has beaten all previous records but, as Premier League clubs will receive around €450 million of extra broadcast
payments during the 2007-08 season, the increase in transfer spending is not a surprise."

Despite winning the Premier League last season, Manchester United were the biggest spenders during 2007, shelling out roughly €75 million on players.

They were closely followed by Liverpool (€73m), while Tottenham spent €63 million in their quest for Champions League qualification and newly-promoted Sunderland spent €50 million. .

Real Madrid were 2007's biggest spenders in Europe, with an outlay of around €115 million million, while Thierry Henry's transfer from Arsenal to Barcelona pushed the Catalan team's spending up to around the €75 million mark.

Both the Spanish giants benefit from being able to negotiate their own broadcast deals, while Premier League clubs operate collectively.