The January transfer window was another interesting one as Premier League clubs sought to improve their squads before entering into the second half of the season
The figure released is more than double that of last year, when spending reached around 70m euros, but down on that of the 2011 total, 260m euros.
“Premier League clubs have been relatively restrained in their player transfer fee spending, in spite of the upcoming uplift in their broadcasting revenues of between 20m pounds and 30m pounds each from next season," said Dan Jones, Partner in the Sports Business Group at Deloitte.
He added, "While the clubs’ total spending was 120m pounds, after taking into account transfer income, the Premier League clubs’ net transfer spend was 70m pounds.
"There were relatively few active spenders in the winter window, with over half of this January’s total transfer spending coming from three clubs. Winter window activity tends to be driven by the on-pitch competition at the upper and lower ends of the Premier League table.
Premier League clubs spent around 87m euros on players from foreign sides, while 29m euros went on talent from fellow Premier League teams. Meanwhile 23m euros was used on players from the lower tiers of English football.
“Clubs are now in a reporting period that will count towards the first assessment of UEFA’s financial fair play break-even requirement for international competition and Premier League clubs are also considering the implementation of additional cost control regulation at a domestic level," Jones explained.
"Their apparent relative restraint in this transfer window may reflect an increasing focus on clubs achieving more sustainable levels of expenditure relative to revenues."
QPR, Newcastle and Liverpool accounted for over 50 percent of the total Premier League spending, while around 41m euros was exchanged between clubs on deadline day.
As a result of this January's transfers, Premier League clubs have now splashed over 1.16 billion euros on new players during the winter window since 2003.