English Premier League clubs have smashed the summer transfer spending record with almost £1.44billion (N634billion) in deals.
Transfer deadline days have invariably been the dampest of squibs in recent years but it this turned out to be a zinger.
Following the transfer deadline on Thursday evening, the 20 English Premier League clubs had spent £1.438bn (N633bn)gross on new players this summer.
Arsenal led the way (£150m/N66bn gross) with Chelsea the biggest net gainers so far (£80.6m/N35.6bn) following David Luiz’s switch across London to the Gunners.
The previous record spend by the English top-flight clubs combined in one window was the £1.425bn (N627.6bn) of summer 2017.
If you think this is all exciting, a word of caution. The Premier League is the only major league in Europe where the value of domestic TV rights has gone DOWN this season, so quite a few PL clubs will be seeing flat or even reduced income in 2019-20.
And yes, the overall TV income haul will be up because foreign rights have grown.
But that will principally benefit the biggest clubs under the new and increasingly iniquitous way the foreign TV revenue will be shared.
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