English clubs spent Â£178m
English Clubs spent Â£178m in January In the January transfer window, English clubs spent a whopping Â£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, Â£178m, is huge compared to last season's Â£146m. The spending total in 2003, when the January Transfer window was started was a mere Â£35m.
The top clubs who splashed cash in this January are Man City and the Spurs. Manchester City spent Â£51m and Spurs paid Â£44m.
Arsenal spent Â£15m on Zenit St. Peterburg's Andrei Arshavin. This is the top spending for one player. Spurs re-signed Keane for Â£12m.