Belts tightened as transfer window closes

Clubs in the Premier League spent £30 million on player transfers in the January window, the lowest for more than seven years and well down on last year’s £170 million record.

Club’s in Italy’s Serie A also spent around £30 million, but those from the French, German and Spanish leagues spent much less, according to Deloitte, the business advisory firm which published the figures.

Deloitte said the decrease in Premier League clubs’ spending was expected.

"As managers, club owners and directors become increasingly sceptical of the near term impact a January acquisition can have, it is unsurprising to see a lack of high value activity, with those clubs that are active preferring loan deals," said Dan Jones, partner in Deloitte’s Sports Business Group.

"The absence of new club owners and the tightening of club finances and credit availability have helped to accelerate that trend and dampen down the market."