Premier League clubs spend £1.4bn to smash transfer window records

Premier League clubs spend £1.4bn to smash transfer window records

With just five days left until the transfer window slams shut on Thursday at 11pm clubs are still desperately attempting to land some of their top targets.

Including the January transfer window, the 20 teams have spent an all-time high £1.65bn in the calendar year, while Paris Saint-Germain also created hyperinflation in the market by splashing double the previous world transfer record on Neymar and Kylian Mbappe.

Despite that slight dip in net spend, the clubs combined to shell out an estimated 31% of their revenues for this season, a significant rise on the average summer window spending-to-revenue ratio of 22%.

The Gunners have made their worst start to a Premier League season since the 2011-12 campaign, picking up two defeats in their opening three matches and conceding eight goals in the process. Where these players end up could help shape the 2017-18 Premier League title race.

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"While the transfer record for a single player has again been broken by a major European club, the Premier League's clubs enjoy an unrivalled depth of purchasing power, as a result of the League's relatively equal - and transparent - distribution of broadcast revenues", said Jones.

Romelu Lukaku's move from Everton to Manchester United, for a reported initial fee of £75m, was the biggest single deal for a Premier League club.

Loans between Premier Leage clubs and other English counterparts are officially called temporary transfers.

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