Football's summer spree

A new study has found that English football clubs spent more than £530m on players this summer, fuelled by the seemingly bottomless wallets of foreign owners (such as West Ham's Eggert Magnusson, pictured) and a major broadcasting rights deal. That’s about two-thirds higher than the £330m spent last summer, and certainly gives some perspective to the recent uproar over executive pay and City bonuses.

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Last Updated: 31 Aug 2010
The spree came as a three-season, £1.7bn deal for TV rights began. This year has also seen clubs such as Liverpool, Manchester City and West Ham get taken over by foreign owners, keen to chuck their money around in a bid to curry fans’ favour and restore former glories (or in Manchester City’s case, bring at least a semblance of glory for the first time).

Much of the population was up in arms about bonuses last week, despite the fact that the finance sector brings in just over a third of the nation’s annual income. The spend on English football has made the domestic game prettier of course, but it also seems to have contributed a whole lot more whining at refs, a proliferation of media interest in WAGS and, if Sir Trevor Brooking is to be believed, the terminal decline of our own homegrown talents. A funny ol' game indeed.  

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