When the Premier League kicked off two weeks ago, the like for like spending was down on the same period last summer. However, all that has changed in the final two weeks an the total spend by Premier League teams is £490m this summer, an increase of £5m on last year’s figures.
This total includes an eyewatering £110m on the final day of the transfer window.
Newcastle made a valiant effort to help keep the overall total down but were undone by these other clubs recklessly running about buying players for their squads.
Results on the pitch will as always decide who made the right moves off it but a major factor put forward for the continued buoyant spending are the new Premier League TV deals. So
unlike the likes of Spain and Italy where cash on transfers has gone down, when the new EPL TV deals kick in next season, every club is expected to get a minimum of £20m more than last season!
So for example Wolves received just over £40m for finishing bottom and next season that bottom club is expected to get a minimum of £60m via the TV deals.
The cash coming into every club, including Newcastle United, is just going to go up and up but the question is if and when Mike Ashley will spend Newcastle’s surplus funds. Especially bearing in mind that Newcastle United’s last set of figures showed a profit of well over £30m once player trading (Andy Carroll fee mainly) had been taken into account.