Thursday, 1st September, 2011
English Premier League clubs have spent a remarkable £485M during the summer transfer window according to business analysts Deloitte, further boosting suggestions that the world’s most lucrative league is "recession proof".
The amount shelled out on fresh talent by Premier League sides rose a remarkable £120M compared to the same period last year, despite the UK economy as a whole remaining sluggish and in a period of low growth.
A number of clubs, including Arsenal, Chelsea, Manchester City, Liverpool and Manchester United, all spent more than £50M in the transfer market.
Standout deals on transfer deadline day included Raul Meireles’ late, late switch from Liverpool to Chelsea, Peter Crouch’s move to Stoke City from Tottenham Hotspur and Mikel Arteta swapping Everton for Arsenal.
English clubs will now close their chequebooks until January, when the winter transfer window opens.
And despite much spending this summer, clubs are guaranteed to already be eyeing the 1st January to fill the holes they failed to fill throughout August or add the remaining pieces of the jigsaw to either push for honours or avoid relegation.
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