A financial report published in Spanish paper El Mundo Deportivo this morning sheds light on the economics behind the summer spending of major European leagues.
Topping the charts is the English Premier League, with the total value of all transfers at an astounding €504 million after the close of the transfer window at midnight of September 1st.
Manchester City have alone spent €140 million on eight new players, highlighting the vast spending power of their new Abu Dhabi based owners. Still, the financial crisis has had a disastrous effect on the spending of other top clubs, with Arsenal spending just €11 million, and Chelsea €25 million, the lowest amount since Roman Abramovich bought the club in 2003.
Spanish clubs, who have taken the transfer market by storm this year, have splashed out a total of €477 million, with over half (€250 million) spent single-handedly by Real Madrid. Madrid and Barcelona account for more than 75% of the total spending of the Spanish League.
Los Blancos have made two consecutive world record signings, Kaka (€65 million), and Cristiano Ronaldo (€94 million), with an additional five players coming to the Bernabeu worth €91 million, bringing the total spending to a world-record €250 million, the most money ever spent by a club in a single summer.
Fourteen players have left Real Madrid, with their value reaching an impressive €88.5 million, which can rise to €93 million in the coming two years.
Some controversy surrounds the value of the transfer activities regarding Catalan outfit Barcelona. President Joan Laporta claims that his club spent €80 million, but the Spanish media believe the total is €110 million, considering the fact that Ibrahimovic came as a player plus cash deal, with Samuel Eto'o valued at €30 million.
Ironically, Barcelona have sold four players, but have recouped €0 in the process.
Despite the enormous spending of Real Madrid and Barcelona, the two Spanish giants have announced world-record budgets of over €400 million for the upcoming season.
Top 5 European Leagues By Summer Spending
1. English Premier League - €504 million
2. Spanish Primera Division - €477 million
3. Italian Serie A - €422 million
4. French First Division - €245 million
5. German Bundesliga - €220 million
Total: €1.868 billion
