London, Sep. 1 : Premier League clubs spending for the summer transfer window tumbled 22 percent from last year, a report says.
The 20 clubs in England''s top flight spent a total of 350 million pounds this summer, down from 450 million pounds last year, business analysts Deloitte said.
"In general clubs are more keen to spend money on wages than on transfers," said Paul Rawnsley, director of the sports business group at Deloitte.
Among the many factors weighing on clubs'' spending, Rawnsley noted the financial failure of Portsmouth FC, higher income tax rates on players'' big pay packets, and a weaker pound making foreign transfers more expensive.
This summer had also seen a number of high-profile players move on free transfers, including Joe Cole from Chelsea to Liverpool and William Gallas from Arsenal to north London rivals Tottenham.
This season also saw the introduction of new rules stating that clubs must register a squad of a maximum of 25 players, including eight "home-grown" players.
The rules were designed to encourage investment in young English or Welsh players, but this does not appear to have been the case, according to the report. (ANI)
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