English soccer teams spending record $1.2 billion on players

Ryan Giggs of Manchester United competes with Delvin N’Dinga of Olympiacos during the UEFA Champions League Round of 16 second round match between Manchester United and Olympiacos FC at Old Trafford on March 19, 2014.

English Premier League soccer clubs have spent a record 725 million pounds ($1.2 billion) on players during the summer transfer window, according to accountant Deloitte LLP.

With four days to go, teams have already spent 100 million pounds more compared than last year and may end up spending even more, Deloitte said in an e-mailed statement.

“There are a number of factors contributing to this summer’s spend, including the showcase for global talent a World Cup provides,” said Dan Jones, partner in Deloitte’s Sports Business Group. “However, one of the main drivers of Premier League spending continues to be the increased resources clubs now have as a result of improved broadcast deals.”

Earlier this week, Manchester United (MANU) agreed to pay Real Madrid a British record of at least 75 million euros ($99 million) to sign Argentina winger Angel di Maria.

On average last season, Premier League clubs got 25 million pounds more in central broadcast distributions compared to 2012/13, Jones said.

The total transfer fee in August may finish even higher because in the past two summer transfer windows, more than 20 percent of total Premier League clubs’ spending happened on the final day, according to Deloitte.

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