AFP, LONDON: Premier League clubs have shelled out a record £1.4 billion in transfers this season, according to a report Wednesday that warned of over-reliance on big Chinese spending.
The Deloitte consultancy study said top-tier English sides made 40 million pounds ($50 million/46 million euros) in profit from the January transfer window, the first time they have come out of the football horse-trading in the black.
The market closed on Tuesday night with Southampton swooping for Napoli's Italy forward Manolo Gabbiadini for at least £14 million while Burnley completing the reported club-record £13 million signing of Norwich winger Robbie Brady.
Deloitte said total gross spending by Premier League clubs for the 2016/17 season is now almost £1.4 billion ($1.76 billion/1.6 billion euros) smashing the previous record of £1 billion set last season.