European clubs spend $2.3B on player transfers

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Associated Press

Posted on September 3, 2013 at 12:36 PM

Updated Tuesday, Sep 3 at 9:02 PM

LONDON (AP) — The world's richest soccer league is getting even richer, even as the wealth of English clubs also benefits teams overseas.

In less than three months during the European transfer window, more than $2.3 billion was spent by clubs in the continent's top five leagues — with a third of that shipped by Premier League sides overseas, according to an analysis by accounting firm Deloitte.

Such spending might seem at odds with the economic hardships being experienced by many fans, but the transfer window splurges are not slowing down.

Even though there are relatively new Financial Fair Play regulations in European soccer, the days of the big-money moves are not over.

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