Premier League clubs are being tipped for a record summer of transfer spending. Football finance expert Tom Cannon believes you have all the ingredients for a record-breaking summer of splashing the cash.

Cannon, professor of strategic management at the University of Liverpool, told The Sun: "Having six or seven clubs chasing a top-four place will inevitably mean a lot more turbulence and risk-taking.

"Look at the way Chelsea are spending money. That will force Manchester City and Manchester United to respond. That's the big three now, let's be candid about it.

"The next three or four will have money coming in, either from sales of players like Robin van Persie, or from owners.

"Then further down you look at a club like QPR, who clearly have money to spend.

"It would not surprise me if it was a record year for transfers."