- Comments: 0
- 05 September 2013 00:00
- in Community
- Visits: 6174
- Last Modified: 05 September 2013 04:40
Community sport will continue to benefit from the Premier League after transfer spending by the division’s clubs in the summer transfer window reached a new record by smashing the £600 million mark for the first time ever.
According to analysis by leading professional services firm Deloitte, £630 million was spent on players by Premier League clubs on the likes of Germany’s Mesut Ozil by Arsenal and Belgium’s Marouane Fellaini by Manchester United.
The Premier League was also involved in the world record transfer with the sale of Tottenham Hotspur’s Gareth Bale to Real Madrid for £85 million.
The final combined outlay of the Premier League clubs is 29% up on the equivalent 2012 figure of £490 million and £130 million more than the previous record of £500 million set in 2008.
"The story of this summer transfer window is of new records: a new record for Premier League spending as well as a new world transfer record fee,” said partner in the Sports Business Group at Deloitte Dan Jones.
"Whilst the sale of Gareth Bale brought £85 million into the Premier League, net spending is also a record, at £400 million.
"As the financial rewards for participation and success in the Premier League increase, so it follows that clubs are investing on the pitch to ensure they continue to benefit from the remarkable Premier League growth story.
"But while Premier League clubs are in a stronger position to afford increased transfer and player costs than ever before, the key challenge remains cost control.”
The increasing profitability of the Premier League means further benefit for grassroots sport, predominantly through the Creating Chances scheme.
"Creating Chances is the work that the Premier League delivers at the heart of its communities in which the clubs operate,” said a Premier League statement.
"Through the power of football we empower our clubs to create opportunities that bring people together and change lives for the better.
"Over the last three years Creating Chances has invested £111.6 million into the heart of local communities, benefiting 14 million people.
"Every £1 invested by the Premier League has seen £3 of matched funding.”
The expectations of community sport on the Premier League can now be expected to increase following the record-breaking transfer spend.
"This is the first year that Premier League clubs will benefit financially from the league’s new broadcast deals; each club benefiting from a share of the extra £600 million of revenues in 2013/14 alone,” said consultant in the Sports Business Group at Deloitte Alex Thorpe.
"Testament to the impact this is having is in the scale of Premier League gross spending, as well as the gulf in net spending between the Premier League and other European leagues.
"Whereas many clubs around Europe have been reliant on selling players in order to spend, the financial advantages Premier League clubs enjoy has enabled net spending of £400 million across the league.
"Many clubs, including new entrants to the league, have successfully competed in the European transfer market to attract high profile foreign talent.”