If summer transfer market spending were a sportsbook prop, the English Premier League would be the odds-on favorite to spend the most money. As a matter of fact, EPL clubs have already spent more than £500m since the end of last season, according to business analysts Deloitte the league is bound to establish a new record by August 31st. English clubs spent a record £1.165bn last summer, which rose to £1.38bn following the January window. Deloitte released its annual football finances this week, showing record revenues of £3.6bn for EPL teams in the 2015-16 season, and that is not even accounting for an improved TV broadcasting rights deal which represents a 71% increase on the £3bn negotiated in 2013
Clearly, these lads are not about the let all that money burn a hole in their collective pocket. Deloitte predicted that figure would reach £4.5bn by the end of the upcoming season. In addition to that, overall debt is reported to be falling and projections for the 20 clubs combined indicate a return to the black in the near future. “Revenues keep going up, predominantly because of the rise in broadcast rights values,” Deloitte’s sports business group senior consultant Chris Stenson said. “Every Premier League club now has more money and are willing to spend that on players,”. For instance, Romelu Lukaku was sold by Chelsea to Everton for £28m in 2014. Three years later Manchester United paid an initial £75m and rising £90m to for the Belgian (the biggest transfer fees paid by a Premier League club so far this summer) – an increase of 168%
Similarly, Swansea signed Icelander Gylfi Sigurdsson from Tottenham for a reported £6.8m in the same year of 2014. The Welsh team now apprise him at £50m; that is, an increase of 635%. Like a man whose sportsbook tip failed to pan out, Newcastle United manager Rafa Benitez has called this state of affair “crazy.” But football agent Jon Smith calls a £30m transfer like, say, that of goalie Jordan Pickford from Sunderland to Everton, the “new norm.” Football finance expert Rob Wilson explains that the market “hyper-inflation” results in anyone selling to an English team adding “at least 40%, if not 50%, to the deal”.
In addition to Lukaku, the Antonio Rudiger Roma-Chelsea transfer was worth £29m and could rise to £33.3m; Alexandre Lacazette’s Lyon to Arsenal transfer was £46.5m and rising to £52.6m; Victor Lindelof from Benfica to Manchester United was £31m; Bernardo Silva from Monaco to Manchester City was £43m; Michael Keane from Burnley to Everton is rising to £30m; Ederson Moraes from Benfica to Manchester City cost £35m; Jordan Pickford from Sunderland to Everton was £25m and rising to £30mhttp://www.bbc.com/sport/football/40080163; Mohamed Salah from Roma to Liverpool cost £34m; and Davy Klaassen Ajax to Everton came down to £23.6m. As Stenson said, the EPL “is the wealthiest league in the world and increasing its value makes it more attractive to sponsors and commercial partners.” And like a noveau riche in a sportsbook, it’s not afraid to show it.