English clubs lead the way in summer spending spree

English clubs lead the way in summer spending spree

LONDON - English Premier League football clubs spent a record 835 million pounds on hiring players during the summer transfer window as they reinvested cash from the latest round of broadcast deals.

That total was almost double the 425 million paid out by teams in Spain's La Liga, the next highest spending country, according to figures released by business services group Deloitte on Tuesday.

The Premier League generates more money than any domestic football competition while Spain is home to Real Madrid and Barcelona, the two clubs who enjoy the highest revenues thanks to the way television cash is distributed.

Manchester United, English champions a record 20 times, spent around 150 million pounds as new manager Louis van Gaal tries to ensure there is no repeat of last season's disappointing seventh place finish.

Teams in Europe's main leagues had until late on Monday to finalise their squads for the next few months, leading to frenzied trading in the final few hours of the transfer window. Clubs cannot buy new players again until January.

"We continue to see the increased resources that Premier League clubs enjoy, as a result of improved broadcast deals, translate into investment in players," said Deloitte's Dan Jones.

He warned clubs of the need to ensure they did not overspend in the quest for a place in the European Champions League or to retain their spot in the Premier League.

"The key challenge remains pursuing their ambitions responsibly," he said.

"We hope that while increased revenues continue to allow the league to attract top players, they will also result in a more profitable picture across the league in the years to come."

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