African trade ministers meet in Cairo to push forward with AfCFTA    Scatec's $3.6bn renewables portfolio part of Egypt's NWFE energy pillar    Egypt's stocks end lower on Sept 16    Egypt launches international architecture academy with UNESCO, European partners    Egypt's President, Pakistan's PM condemn Israeli attack on Qatar    Egypt's PM, Russian deputy PM discuss industrial zone, Dabaa nuclear plant    Egypt signs MoUs with 3 European universities to advance architecture, urban studies    Sisi tells global leaders at Macron's video conference: Israel crossed all red lines    Egypt to begin second phase of universal health insurance in Minya    Madrid trade talks focus on TikTok as US and China seek agreement    Power of Proximity: How Egyptian University Students Fall in Love with Their Schools Via Social Media Influencers    Egypt wins Aga Khan Award for Architecture for Esna revival project    Egypt's Foreign Minister, Pakistani counterpart meet in Doha    Egypt condemns terrorist attack in northwest Pakistan    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Teams from Europe's Big Five leagues spend 5.5 billion euros in transfer window
Reuters Published in Ahram Online on 03 - 09 - 2019

Spending by teams in Europe's Big Five leagues totalled a record 5.5 billion euros during the close season transfer window, financial analyst Deloitte's Sports Business Group said on Tuesday.
The outlay was 0.9 billion euros (£817 million) more than the previous record set in 2018, with England's Premier League clubs spending 1.55 billion euros with a net spend of 635 million euros.
Spain's La Liga clubs spent 1.37 billion euros — exceeding 1 billion euros for the first time — while Italy's Serie A (1.17 billion euros) Germany's Bundesliga (740 million euros) the French Ligue 1 (670 million euros) all set new records.
“Spending across clubs in Europe's ‘big five' leagues has reached record levels in this summer's transfer window,” said Dan Jones, partner in the Sports Business Group at Deloitte.
“This unprecedented level of spend has been driven by a number of factors, including additional income from new league broadcast cycles, participation in, and subsequent distributions from, UEFA club competitions.”
Jones said club-specific factors such as management changes and improving playing squads to achieve on-pitch objectives were also contributing factors.
“The improved financial performance of European football clubs has also reduced the need for clubs to sell their best players,” he added.
Spain's Atletico Madrid signed 19-year-old striker Joao Felix from Benfica for 126 million euros while Barcelona landed France international forward Antoine Griezmann from Atletico Madrid for 120 million euros.
Real Madrid ended their long pursuit of Eden Hazard by signing the Belgium winger from Chelsea for a reported fee of 100 million euros.
Net spend in the Premier League fell by 50 million pounds since the league's deadline day on Aug. 8.
“Looking to the Premier League, this summer's transfer expenditure fell narrowly short of record levels, and net spend was at its lowest level since summer 2015,” Jones said.
“While this level of net spend as a proportion of revenue of 11% is the lowest since summer 2011, we still expect wages to increase at a greater rate than revenue in the next couple of seasons.”'
(For more sports news and updates, follow Ahram Online Sports on Twitter at @AO_Sports and on Facebook at AhramOnlineSports.)

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