SPORTS

Premier League Money Flies Out The Window In Record-Setting Soccer Transfer Period

Radamel Falcao on Saturday, Aug. 2, 2014.

Radamel Falcao on Saturday, Aug. 2, 2014.  (A2014)

English Premier League clubs spent a record 835 million pounds or $1.38 billion on players during the summer transfer window, almost twice as much as any of Europe's other top leagues.

A study by football finance expert Deloitte showed gross spending in England's top league was up more than 30 percent on the previous record of 630 million pounds - now $1.04 billion - set in 2013.

Spanish clubs were the second-highest spenders of the so-called "big five" divisions in Europe, with an outlay of $700 million, Deloitte said. Italian clubs were next highest with $430 million. German teams spent $410 million and French clubs $165 million.

Increased domestic and international broadcast deals fuelled the spending by English clubs, with Manchester United paying out about $250 million as part of its rebuilding under Louis van Gaal. That's the most spent by a Premier League club in a summer window.

"We continue to see the increased resources that Premier League clubs enjoy, as a result of improved broadcast deals, translate into investment in players," said Dan Jones of Deloitte's Sports Business Group.

More On This...

There was also a record net spend by Premier League clubs of $680 million, only marginally higher than the previous highest from last summer, with teams still having to abide by financial fair play regulations.

''With Premier League clubs in a stronger position to afford increased transfer and player costs than ever before, the key challenge remains pursuing their ambitions responsibly," Jones said. "Regulations are now in place at both a league and continental level encouraging clubs to balance their costs with revenue."

Follow us on twitter.com/foxnewslatino
Like us at facebook.com/foxnewslatino