LONDON: Spending by English Premier League clubs fell by 715 million pounds ($912.27 million) in the January window compared with a year ago to the lowest level in three years, according to an analysis by Deloitte’s Sports Business Group.
Top-flight clubs in England collectively spent about 100 million pounds this January, a drop of around 88% from the same time last year, the analysis said.
Deloitte attributed the fall to clubs taking a more prudent approach after spending heavily in the close season and to concerns over potential sanctions for failing to comply with the league’s profit and sustainability rules (PSR).
PSR was introduced in 2013 to level the playing field and prevent clubs with rich ownership groups spending vast sums on players. It means clubs are permitted to lose a maximum of 105 million pounds over a three-year period.
Everton was deducted 10 points earlier this season for breaking PSR limits -- its appeal hearing began on Wednesday -- and was charged last month, along with Nottingham Forest, for another breach.
Serial champion Manchester City has also been charged with numerous breaches of finance rules since being bought by the Abu Dhabi-based City Football Group in 2008. No verdict has yet been reached in that case.
The 100 million pounds spent in the January window, which closed on Thursday, is the lowest since the league spent a combined 70 million pounds on transfers in the COVID-restricted window of January 2021, the report said. Agencies