LONDON: Clubs from Europe's 'big five' leagues in England, Spain, Italy, France and Germany combined to spend a record £5 billion on transfer fees during the summer transfer window, financial experts Deloitte revealed on Tuesday .
"Looking to the Premier League, this summer's player transfer expenditure fell narrowly short of record levels, and net spend was at its lowest level since summer 2015," said Dan Jones, Deloitte's head of sports business group."While this level of net spend as a proportion of revenue of 11 per cent is the lowest since summer 2011, we still expect wages to increase at a greater rate than revenue in the next couple of seasons.
"I think after two seasons operating in this way, the Premier League realises that if Europe doesn't change, we need to go back and start to operate in the same way they operate now."
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