Premier League transfer spending tops £1billion

Can anything put a halt to the top flight's relentless spending? Credit: PA

Transfer spending by Premier League clubs this season has surpassed the £1billion mark for the first time, according to Deloitte.

It may have been a quiet start to deadline day on Monday, but total spending in the whole of the 2015-16 campaign has already reached an eye-watering amount.

Deloitte estimates that £130million has been spent so far in the January transfer window, which takes the total sum for the season beyond £1billion for the first time in history.

Dan Jones, partner in the Sports Business Group at Deloitte, said: "We've seen Premier League clubs again use the January window to invest significantly in playing talent. With a day left, the total gross spending this season has already reached £1bn for the first time."