Transfer spending by Premier League clubs this season has surpassed the £1 billion mark for the first time, according to Deloitte.
Deloitte estimates that £130 million has been spent so far in the January transfer window, which takes the total sum for the season beyond £1 billion for the first time in football history, beating the record £965m that was spent during the 2014/2015 season.
Dan Jones, partner in the Sports Business Group at Deloitte, said: “We’ve seen Premier League clubs again use the January window to invest significantly in playing talent. With a day left, the total gross spending this season has already reached £1bn for the first time.”
It may have been a quiet start to deadline day on Monday, but total spending in the whole of the 2015-16 campaign has thus already reached an eye-watering amount.
Newcastle have been the biggest spenders of the January window so far, bringing in the likes of Jonjo Shelvey, Andros Townsend and Henri Saivet for a combined total of almost £29m, while having made a £21m bid to sign striker Saido Berahino from fellow Premier League club West Bromwich Albion.
Newcastle spent £46m last summer while Manchester City topped the league, spending over £150m to sign Kevin De Bruyne, Fabian Delph, Raheem Sterling and Nicolas Otamendi.
Manchester United also spent over £100m on six new signings and Liverpool invested almost £80m in new players, although most of that money came from the sale of Sterling to City.
Struggling Norwich, Bournemouth and Sunderland have all spent over £15m this month, which is more than Liverpool (£5.1m), Arsenal (£5m), Chelsea (£3.5m), Tottenham (£0.2m), Man City (£0.2m) and Man Utd (£0m) have spend together (total of £14m).
Premier League gross spending gone past £1bn for 2015-16; or £530m net. pic.twitter.com/S0YnfCVP1e
— sportingintelligence (@sportingintel) 1 februari 2016
Get upto £200 in free matched bets with bet365 - Click here to find out more