Premier League transfers down 70% says Deloitte

PREMIER LEAGUE clubs spent 70% less in the January transfer window compared to 2011, according to Deloitte.

The top clubs spent just £60m in January compared to a record level of £225m for the same period last year the Big Four firm has revealed.

Deloitte partner in sports business Dan Jones believes the restrained transfers could be due to incoming UEFA financial fair play rules which require all clubs that compete in European cups, to balance their books.

"As clubs are now in the reporting period that will count towards the first assessment for UEFA's financial fair play break-even requirement, their comparative restraint is indicative of an overriding reflection on spending levels.

"The focus on football's future financial sustainability is more prevalent in Europe than at any time in the past 20 years and, going forward we remain keen to see that translated into a better balance between revenue and expenditure."

The Uefa rules state in the first reporting year 2013/14 clubs are allowed to make a loss of €45m (£37.5m) falling to €30m from 2015/16