Premier League transfer spending hits £1 billion for 2015-16 season
Transfer spending by Premier League clubs this season has surpassed the £1 billion mark for the first time, according to Deloitte.
It may have been a quiet start to deadline day on Monday, but total spending in the whole of the 2015-16 campaign has already reached an eye-watering amount.
Deloitte estimates that £130 million has been spent so far in the January transfer window, which takes the total sum for the season beyond £1bn for the first time in history.
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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."
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.
The Magpies are expected to make further additions to their squad before Monday's 11pm deadline, with West Brom striker Saido Berahino top of their wishlist.
Newcastle spent £46m last summer while Manchester City parted with over £150m to sign Kevin De Bruyne, Fabian Delph, Raheem Sterling and Nicolas Otamendi to help their title charge.
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.
Norwich, Bournemouth and Sunderland have all spent over £15m in the current window, which highlights their determination to stay in the Premier League in order to start reaping the rewards from the £5.136bn TV deal that kicks in from next season.