UK soccer clubs splash record $1.2B on players

Top-flight English soccer clubs spent a record level on new players this summer, a Deloitte study showed.

Teams in the English Premier League, the country's top soccer division, have already spent £725 million ($1.2 billion) on bringing in new players—with four days still to go before the summer transfer window closes. The total so far is already £95 million more than last year.

"This summer transfer window is one of records," Dan Jones, partner in the sports business group at Deloitte, said in a news release. " It has so far seen a higher level of spending than in any previous window, with a new record gross spend in a single window for a single Premier League club, and has included a record transfer fee for an individual player in English football,"

Man U spending spree

Manchester United has led the spending spree. Dutch national team coach Louis van Gaal took over at the start of the new season, with many fans calling on the club to buy top players to revive its fortunes.

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The club broke a British transfer fee record by signing Angel Di Maria for £59.7 million from Spanish team Real Madrid. Manchester United now has its eye on other players including Ajax defender Daley Blind.

Chelsea have also been in the spending action, buying Spaniard Cesc Fabregas from Barcelona for an undisclosed sum, and Diego Costa from Atletico Madrid for £32 million.

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Deloitte's Jones said better broadcasting deals and a boost from this year's World Cup in Brazil were key drivers for clubs splashing the cash.

"There are a number of factors contributing to this summer's spend, including the showcase for global talent a World Cup provides. However, one of the main drivers of Premier League spending continues to be the increased resources clubs now have as a result of improved broadcast deals," Jones said.