Premier League clubs have spent more than 850 million pounds in this summer's transfer window and are on course to break their record, data released by website Sporting Intelligence showed on Monday.
With more than a month remaining before the close of transfer business on Aug. 31, English clubs are again proving to be Europe's heaviest spenders and will likely top the 1.165 billion pounds they lavished on new players last summer.
Manchester City have spent the most, 188 million pounds on six new players, with Monaco's Bernard Mendy becoming the latest to join on Monday. City did not publish a fee, but British media reported it to be around 49 million pounds.
City have received 34.2 million pounds from selling five players, leaving a net spend of more than 150 million pounds.
Champions Chelsea are the next biggest spenders on 130.4 million pounds, followed by Manchester United on 105.8 million pounds, although Jose Mourinho's club say they will make a further two signings during this transfer window.
Meanwhile, Everton who have spent 93.4 million pounds, have recouped it all, mainly by selling Romelu Lukaku to Manchester United. Arsenal, whose manager Arsene Wenger has been under pressure to bring in new players after a disappointing season, have so far spent 52.7 million pounds.
Three clubs, Tottenham Hotspur, Stoke City and Crystal Palace have yet to spend anything, with Spurs currently 74.3 million pounds in credit on all deals.
All three teams promoted to the Premier League have invested, with Huddersfield's 36.4 million pounds just topping Newcastle United's 31.2 milllion pound, while Brighton and Hove Albion have spent just 13.3 million pounds.
The figures reflect the huge riches being pumped into the world's most lucrative league, with clubs receiving 8.3 billion pounds in TV rights alone for the current three-year cycle.
Such riches mean Premier League clubs are paying a premium in the market. West Bromwich Albion manager Tony Pulis became the latest to question the current trend of hyperinflation.
"At the moment the market out there has gone crazy," he said last week. At 19.8 million pounds, Albion have been one of the league's most modest spenders.
The new Premier League seasons on Aug. 11.
Reuters
Mon Jul 24 2017
Manchester City's Vincent Kompany celebrates scoring their first goal with team mates during the Premier League between Watford and Manchester City at Vicarage Road, May 21, 2017. REUTERS
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.