Insider Media Limited

Premier League transfer spending dropped by 70 per cent in the most recent window, according to analysis by Deloitte.

The business consultancy said clubs in the top flight spent about £60m in the January transfer window, a massive drop on the record level of £225m in January 2011.

Deloitte said the recent window involved "a more sober level" of spending after the previous January window included a British record fee of £50m paid by Chelsea FC to buy Fernando Torres from Liverpool FC and the £35m then splashed out by Liverpool on Andy Carroll, a record fee for a British player.

"In the decade since the introduction of transfer windows, January has typically been a relatively quiet window with total spending driven by a few high value transfers, as was certainly the case with the chain of events on last year’s deadline day," said Dan Jones, partner in the sports business group at Deloitte.

"The £60m spent in January 2012 is back to a similar level as the January windows in 2004 to 2007, and still ahead of the investment in players by top division clubs in other European leagues."

Jones added that with UEFA's financial fair play rules now in play, the comparative restraint of Premier League clubs demonstrated more thought was being given to the amount of spending possible.

"The focus on football's future financial sustainability is more prevalent in Europe than at any time in the past 20 years and, going forward we remain keen to see that translated into a better balance between revenue and expenditure," he said.