The English Premier League has broken a new record, spending more than 1 billion pounds on pricey players this season. It comes as Pep Guardiola is confirmed as Manchester City's new manager, a move only likely to increase the purchasing power of the wealthy club. Laura Frykberg reports.
They're among the priciest players in English football history. Kevin De Bruyne, this season's biggest signing by Manchester City, cost about 55 million pounds. And Raheem Sterling, was about 49 million. It's no wonder then the Premier League has scored a new record this season, paying more than a billion pounds for player transfers, according to figures from Deloitte's. David Webber is a Football Economist at the University of Warwick. (SOUNDBITE) (English) DR DAVID WEBBER, FOOTBALL ECONOMIST AT THE UNIVERSITY OF WARWICK, SAYING: "I don't think it is particularly surprising when you consider the global appeal of the Premier League as well. Clubs know that money is coming in, they want to go beyond traditional communities if you like. And look to appeal to a more global audience." Spending a fortune on footballers is nothing new - the Premier League's pockets are filled with money from TV licensing, and wealthy owners. Manchester United bought Angel Di Maria for more than 59 million pounds in 2014. While Fernando Torres cost Chelsea about 50 million in 2011 - the list goes on. According to Webber, it's causing a striking inequality within the English game. (SOUNDBITE) (English) DR DAVID WEBBER, FOOTBALL ECONOMIST AT THE UNIVERSITY OF WARWICK, SAYING: "You're seeing large amounts of money circulating within the Premier League and within the Championship as well, but you're seeing the lack of investment right at the bottom of the game at the grass roots. So there's a huge disparity between those who perhaps have a kick around at the weekend. There's not the investment in the pitches, there's not the investment in the facilities in the coaching." Webber says even more money is likely to be spend on players next season. But that doesn't necessarily equate to success. Leicester City bought Jamie Vardy for a mere million pounds He's now the leading goal scorer in the Premier League.