English Clubs spent £178m in January In the January transfer window, English clubs spent a whopping £178m inspite of the credit crunch. This is a record spending!

Although the world is facing credit crunch and economic crisis, English football clubs spent record money in the transfer market. The amount spent this season, £178m, is huge compared to last season's £146m. The spending total in 2003, when the January Transfer window was started was a mere £35m.

The top clubs who splashed cash in this January are Man City and the Spurs. Manchester City spent £51m and Spurs paid £44m.

Arsenal spent £15m on Zenit St. Peterburg's Andrei Arshavin. This is the top spending for one player. Spurs re-signed Keane for £12m.