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Why soccer spending won't stop yet

Wednesday, September 02, 2015 - 01:40

Player transfer spending by England's Premier League clubs in the summer 2015 transfer window has reached a new record. As Ivor Bennett reports, business advisory firm Deloitte put gross spending at £870m, 4% up on the previous record set last summer.

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He was sold by Chelsea for apparently not making the grade. But less than two years on, Kevin de Bruyne is one of the most expensive footballers in British history. Signed by Manchester City for 55 million pounds. Sport business strategy professor Simon Chadwick. SOUNDBITE (English) SIMON CHADWICK, PROFESSOR OF SPORT BUSINESS STRATEGY, COVENTRY UNIVERSITY, SAYING: "I think the player transfer windows really is a case of too much money chasing too few goods. So I think for me the biggest surprise was that we didn't break through the one billion pound barrier but I suspect that this time next year we may well be talking about the first summer transfer window that goes through one billion." This summer was still a record though. De Bruyne's fee among 870 million pounds spent by Premier League clubs. It's 4 percent up on last year's record - and 4 times more than the first transfer window in 2003. An increase driven by bumper broadcasting rights. Next season's 5.1 billion-pound-deal will give the winners of this trophy more than 150 million pounds in prize money. And that's before TV appearance top-ups. Former Liverpool great Ian Rush sees transfer fees only going one way. SOUNDBITE (English) IAN RUSH, FORMER FOOTBALLER, SAYING: "With TV money and everything going, that's the way it is. People want to watch football." The potential rewards have also made clubs more willing to take risks. Manchester United splashed 36 million on 19-year-old Anthony Martial, making him the most expensive teenager ever. That title - in Britain at least - used to belong to Rush himself. But for today's stars, the 300,000 pounds Liverpool spent in 1980 is barely enough to cover a week's wages.

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Why soccer spending won't stop yet

Wednesday, September 02, 2015 - 01:40