Premier League clubs spent more than £155m on transfer deadline day as the summer window outlay reached a record £1.165bn.
Teams had already spent a combined £1.005bn as of 08:30 BST on Wednesday, shattering last year’s record £870m.
Thirteen top-flight teams broke their own transfer records.
The 20 clubs in the Premier League have benefited from a record £5.1bn television deal which came into effect this season.
“As has been the case for a number of years now, the increases in broadcast revenue, with the 2016-17 season being the first of the new broadcast deal cycle, is the principal driver of this spending power,” said Dan Jones, a partner at financial analysts Deloitte.
“The increase in the value of these deals and the comparatively equal revenue distribution of these by the Premier League has again allowed clubs throughout the division to invest significantly in this summer’s market.”
Other key findings (source Deloitte):
- The average gross spend for a Premier League club in the 2016 summer window was about £60m
- The total of £155m spent by Premier League clubs on deadline day broke the previous record of £140m set during the summer 2013 window
- The four Premier League clubs competing in this season’s Champions League – Arsenal, Leicester City, Manchester City and Tottenham Hotspur – had a combined gross transfer spend of about £385m – representing around a third of the aggregate gross transfer spend by Premier League clubs
- Across the other top divisions of Europe, the next highest spending league was Serie A, with a gross spend of £590m. Then came the Bundesliga with a spend of £460m, followed by La Liga (£400m) and Ligue 1 (£165m)
- Since the introduction of the transfer window system, gross player transfer spending has exceeded £8.6bn, with more than 80% of this being spent in summer transfer windows
Spending reaches phenomenal levels
Not only did this year’s figure of £1.165bn break the record set this time last year, but it also dwarfed the £215m spent during the first window in the 2003-04 campaign.
Such financial strength owes much to the record £5.136bn domestic TV deal, which was more than £2bn larger than the previous contract, which ran from 2013 to 2016.
Former Tottenham midfielder Jermaine Jenas told the BBC: “This is the world we are in in football.
“There is that much money flying around since the TV deal that clubs can afford to break their transfer records. They have to keep up. The Premier League is where it is at, clubs have to spend money.”
Ex-England winger Trevor Sinclair added: “There’s so much money in it for a reason – supply and demand.
“People demand to see the Premier League. If anyone is going to get the financial gain, surely it has to be the players, they are the ones who make it happen.”
Clubs flex financial muscle
|The clubs who broke their transfer records|
|Manchester United: Paul Pogba (£89m)||Bournemouth: Jordon Ibe (£15m)|
|Liverpool: Sadio Mane (£36m)||Sunderland: Didier N’Dong (£13.6m)|
|Crystal Palace: Christian Benteke (£32m)||Hull: Ryan Mason (£13m)|
|West Ham: Andre Ayew (£20.5m)||West Brom: Nacer Chadli (£13m)|
|Leicester: Islam Slimani (£29m)||Watford: Roberto Pereyra (£13m)|
|Southampton: Sofiane Boufal (£16m)||Burnley: Jeff Hendrick (£10.5m)|
|Swansea: Borja Baston (£15.5m)|
The two Manchester teams each spent more than £150m in the window.
Manchester United, under new boss Jose Mourinho, ended what was becoming a protracted saga by signing Paul Pogba for a world record £89m.
They also added Armenia midfielder Henrikh Mkhitaryan and Ivory Coast defender Eric Bailly, both at a cost of about £30m.
City, who also have a new manager at the helm in Pep Guardiola, brought in midfielder Leroy Sane from Schalke for £37m and then paid Everton £47.5m for defender John stones.
After a previous season that could be classed as terrible, Chelsea owner Roman Abramovich gave another new managerial recruit – Antonio Conte – new spending powers.
In an effort to rejoin the Premier League’s top four, the Blues spent £120m, including £34m on bringing back Brazil defender David Luiz from Paris St-Germain and £33m on Belgium striker Michy Batshuayi from Marseille.
In total, 13 clubs broke their own transfer records.
Elite clubs loan out elite players
This was also a window when clubs vying for a top-four spot sent out on loan players who only last season were seen as first choice.
About £153m worth of talent, based on the fees paid for them, found temporary homes in this window.
Manchester City led, with keeper Joe Hart, midfielder Samir Nasri, striker Wilfried Bony and defender Eliaquim Mangala shipped out. They have a current estimated market value of about £62m.
Chelsea loaned out 38 players – five more than this time last season. Midfielder Juan Cuadrado, who cost £23.3m, signed up to another season at Italian champions Juventus and £6m forward Lucas Piazon will spend his 2016-17 season at Fulham – the fifth club the Blues have loaned the 22-year-old out to.
Chelsea defender Nathan Baxter, 17, will be playing for Metropolitan Police until January, who play in the Isthmian Premier League – the seventh tier of English football.
Meanwhile, West Ham’s £12m forward Enner Valencia will ply his trade at Everton this season and Arsenal’s England midfielder Jack Wilshere, who has made more than 100 appearances for the Gunners, has relocated to Bournemouth.
Championship heavyweights spend big