Premier League spending has exceeded £1 billion (Dhs5.3bn) for the first time, with most transfers taking place at clubs low down the table, driven by fear of relegation.
This, in turn, has given rise to some impressive statistics such as Newcastle United have spent more than all the clubs in the Bundesliga combined this January. The relegation-threatened Magpies have splashed the cash in an effort to preserve their Premier League status and retain their income from the bumper TV deal that exists in the EPL.
