The Premier League spent under £30m in last year’s January transfer window, yet that figure was feeble with the astounding fees that led to over £200m being splashed out this time around.
All this after UEFA’s determination to show that they were intent on following up their threat to ban clubs who fail to break even from European competitions such as the Champions League as part of their new financial fair play rules. But such a threat has fallen on deaf ears.
Despite hopes of becoming self sufficient, Chelsea revealed £70m losses which showed they are still reliant on Roman Abramovich’s wealth and with Fernando Torres and David Luiz costing a combined £70m+ it’s difficult to see the club turning that deficit around anytime soon.
Only last month UEFA general secretary Gianni Infantino warned that whilst revenue were on the rise 56% of professional clubs were in debt with €2.2m worth of transfer debt whilst Michel Platini was keen importance of the rules.
"It is a complex project, but one which I consider vital for football's future," he said.
"Financial fair play is not aimed at putting clubs in difficulty. On the contrary, it aims to help them exit an infernal spiral which prevents certain of them from having a viable medium-term or long-term model."
Football Trade Directory’s John Booth believes that the transfer window is continuing to neglect teams from outside the top flight.
"The problem for football is that most of the money spent in the transfer window will not trickle down into the lower leagues. It is being washed around amongst a dozen or so clubs with billionaire owners," Booth said.
"The only plus point at least was the fact that the top two in the Premier League sat this out – and it suggests that the spending spree is fuelled by fear. The sooner the transfer window is abolished the better for the game as a whole."
UEFA’s financial fair play rules are set to be introduced in 2012 with sanctions to follow two to three years after, what it takes for club’s to reel in their transfer policies remains to be seen.