Finance Matters

From The BBC:

English Premier League clubs have spent about £450m in the summer transfer window – down from last summer’s £500m record, a report says.While the level of purchases from other top flight clubs remained the same, there had been a 40% fall in transfers from overseas clubs, Deloitte said. Sterling’s weakness and a 50% tax rate may have been factors, making it more costly to lure overseas stars, it said. Manchester City’s £120m summer splurge made up 27% of overall spending. Meanwhile, Aston Villa, Liverpool, Sunderland and Tottenham Hotspur have all reportedly spent more than £25m each. Capital drivenThe fall in spending, given the economic climate, was “expected”, said Paul Rawnsley, director in the sports business group at Deloitte. He added that the sale of the next round of international media rights sales was likely to generate higher revenue for Premier League clubs. But Mr Rawnsley said that “without further significant capital injections from owners, transf…

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