January transfers set record high
22nd January, 2008
Premier League clubs have spent a record amount on their January signings, with over a week left before the transfer window closes. The top flight clubs have already spent £93milion on players this year, compared to £63million last year and £81million the year before that.
Chelsea have been the biggest spenders, shelling out £26million for Nicolas Anelka and Branislav Ivanovic. Liverpool have spent £6million on Slovak defender Martin Skrtel, whilst Birmingham have spent £5million on James McFadden amongst others.
The higher spending is mostly down to ever-increasing television revenue – the latest deal bringing in £1.7billion. Financial reward for staying in the Premier League is also huge, where relegation to the Championship can cost a club up to £50million.
