London: Premier League clubs have spent more than £850 million ($1.1 billion) in this summer's transfer window and are on course to break their record, data released by website Sporting Intelligence showed on Monday.
With more than a month remaining before the close of transfer business on 31 August, English clubs are again proving to be Europe's heaviest spenders and will likely tip the £1.165 billion they lavished on new players last summer.
Manchester City have spent the most, £188 million on six new players, with Monaco's Benjamin Mendy becoming the latest to join on Monday. City did not publish a fee, but British media reported it to be around £49 million.
City have received £34.2 million from selling five players, leaving a net spend of more than 150 million.
Champions Chelsea are the next biggest spenders on £130.4 million, followed by Manchester United on £105.8 million, although Jose Mourinho's club say they will make a further two signings during this transfer window.
Meanwhile, Everton who have spent £93.4 million, have recouped it all, mainly by selling Romelu Lukaku to Manchester United. Arsenal, whose manager Arsene Wenger has been under pressure to bring in new players after a disappointing season, have so far spent £52.7 million.
Three clubs, Tottenham Hotspur, Stoke City and Crystal Palace have yet to spend anything, with Spurs currently £74.3 million in credit on all deals.
All three teams promoted to the Premier League have invested, with Huddersfield's £36.4 million just topping Newcastle United's £31.2 milllion, while Brighton and Hove Albion have spent just £13.3 million.
The figures reflect the huge riches being pumped into the world's most lucrative league, with clubs receiving £8.3 billion in TV rights alone for the current three-year cycle.
Such riches mean Premier League clubs are paying a premium in the market. West Bromwich Albion manager Tony Pulis became the latest to question the current trend of hyperinflation.
"At the moment the market out there has gone crazy," he said last week. At £19.8 million, Albion have been one of the league's most modest spenders.
The new Premier League seasons on 11 August.
Published Date: Jul 24, 2017 20:16 PM | Updated Date: Jul 24, 2017 20:55 PM