EPL Clubs Spent £1.2B Despite COVID-19 Financial Crisis

English Premier League clubs spent £1.2B on transfer after the EPL deadline day despite the financial crisis caused by the COVID-19 pandemic.

The empty stands and uncertainty over future broadcast and commercial contracts have little effect as to altering the Premier League's arms race as clubs again splashed out more than £1 billion in the transfer window.

READ ALSO: COVID-19: FA Warns On 'Huge Impact' Of '6-Month No Fans' On Clubs In England

English top-flight clubs committed to deals worth a reported £1.2 billion ($1.5 billion), the lowest spend for a summer transfer window since 2015.

However, the impact of the coronavirus pandemic was more conspicuous when it came to player sales as Europe's other major leagues tightened their belts.

Outgoings of around £400 million signify that the £800 million net spend is the second-highest on record in a single window.

"The sensible way to look at it was that maybe the transfer market is not going to be as buoyant as in previous years," John Purcell of football finance specialists Vysyble as reported by AFP.

"What we've ended up with is actually the second-highest net spend total for a summer window ever.

"When clubs are doing these deals, it tends to be a low down-payment and then the rest of the amount that needs to be paid is back-ended.

"That suggests to us that, firstly, the clubs are thinking this COVID-19 situation is not going to last forever. Secondly, it is forcing the clubs to stack up their risk exposure a little bit further down the track."