Sept. 1 (Bloomberg) -- English Premier League clubs exceeded last year’s spending total during the summer player transfer period after securing a new television deal.
Clubs spent 490 million pounds ($777 million) in the period that ended last night, according to accountant Deloitte LLP. That was 5 million pounds more than the same time in 2011, though 10 million pounds short of the record four years ago.
The five biggest spenders -- Chelsea, Tottenham, Manchester City, Manchester United and Arsenal -- each paid out at least 30 million pounds on players and combined for 55 percent of the total spending. About 110 million pounds was spent on the final day yesterday, up 10 million pounds from 2011.
Transfer fees to overseas clubs rose about 50 percent to 300 million pounds this year. That represented about 61 percent of the Premier League total, compared with 42 percent in 2011, Deloitte said in its statement.
The 20-team league in June agreed on a three-year domestic TV contract worth a record 3.02 billion pounds through 2016. Its global television rights were sold for 1.4 billion pounds. The average Premier League club will gain at least an additional 25 million pounds in revenue per year starting in the 2013-14 season, Alan Switzer, a director in Deloitte’s Sports Business Group, said in the statement.
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