Premier League clubs spend a record $829m in January transfer window

Virgil van Dijk became the most expensive defender of all-time in January, setting Liverpool back £75 million (NZ$144.6m). Photo / Getty Images.

Premier League clubs spent £430 million pounds (NZ$829m) in the January transfer window to shatter the previous mark of £225 million (NZ$434m) set in 2011, said a report by the Sports Business Group at Deloitte.

The January window closed on Wednesday after a frantic month of activity during which Barcelona completed the most expensive deal by signing Philippe Coutinho from Liverpool for a transfer fee reported at about £142 million (NZ$273.8m).

"International trade has flourished, with the highest ever January gross overseas outlay in Premier League history (NZ$501 million), but also the highest amount of January receipts from abroad (NZ$356.8 million)," said Dan Jones, partner in the Sports Business Group at Deloitte.

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"While another record-breaking season catches the eye, Premier League clubs' expenditure continues to be well within their means in the context of revenue generated.

"The estimated 2017-18 net spend of £755 million (NZ$1.49b) represents 17 per cent of forecast 2017-18 Premier League revenue, in line with the average over the 15 years since the first transfer window in January 2003."

The January window also saw the total expenditure by the 'big six' - Manchester City, Manchester United, Chelsea, Liverpool. Tottenham Hotspur and Arsenal - come to £265 million (NZ$511m), representing 62 per cent of total gross spending.

This contrasted with last season's trend where half of gross expenditure came from the bottom-six clubs in a bid to retain their Premier League status.

"Such is the level of competition for a coveted top-four position in the Premier League, as well as ongoing European battles, that top clubs have been willing to break with more traditional summer investment strategies to steal a march on their rivals mid-season," Jones said.