Premier League clubs break transfer spending record

The current twenty Premier League clubs spent 1.165 billion pounds during the summer transfer window, with over 155 million splashed out just one transfer deadline day. Last year's record was 870 million pounds, but this year over 1 billion pounds had been spent before the final day of the transfer window. Moreover, 13 of the 20 Premier League clubs have broken their own transfer records this summer. This summer's big spending was sparked by the new Premier League television deal which came into effect this season, a deal worth a staggering 5.1 billion pounds. "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 representative of financial analysis company Deloitte. The average spending per Premier League club this summer was 60 million pounds. Last season's top four clubs in the Premier League table (Arsenal, Leicester City, Manchester City and Tottenham Hotspur) spent around 385 million pounds in order to enhance their squads for the Champions League. Former England player Trevor Sinclair said: "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." Manchester United have set a new world record by spending 89 million pounds for Juventus midfielder Paul Pogba, while rivals Manchester City made the second most expensive transfer of the summer as they paid Everton 47.5 million pounds for central defender John Stones. Manchester City are the favourites to win the Premier League title this season, they are 7/5 at Bet365 to finish top of the table while Manchester United are 9/4 to win the top-flight at the end of the current campaign.