Newcastle United's new signing English midfielder Jonjo Shelvey arrives ahead of the English Premier League football match between Newcastle United and Manchester United at St James' Park in Newcastle-upon-Tyne, north east England on January 12, 2016. England midfielder Jonjo Shelvey on Tuesday joined Newcastle United from fellow Premier League strugglers Swansea City. The 23-year-old former Liverpool player has signed a five-and-a-half year deal for an undisclosed fee, although reports suggest the sale has cost the Magpies around £12 million (16 million euros, $17.3 million). AFP PHOTO / OLI SCARFF RESTRICTED TO EDITORIAL USE. NO USE WITH UNAUTHORIZED AUDIO, VIDEO, DATA, FIXTURE LISTS, CLUB/LEAGUE LOGOS OR 'LIVE' SERVICES. ONLINE IN-MATCH USE LIMITED TO 75 IMAGES, NO VIDEO EMULATION. NO USE IN BETTING, GAMES OR SINGLE CLUB/LEAGUE/PLAYER PUBLICATIONS. / AFP / OLI SCARFF (Photo credit should read OLI SCARFF/AFP/Getty Images)OLI SCARFF/Getty Images

Premier League Spending Reaches £1 Billion in 1 Season for the 1st Time

Tom WebbFeb 1, 2016

The money spent by Premier League clubs on new players has passed £1 billion for the 2015/16 season, surpassing the £965 million record set last year.

Data provided by Deloitte shows that teams in England's top flight have spent £130 million combined in January so far, taking the overall expenditure for the season into 10 figures for the first time.

Dan Jones of Deloitte's Sports Business Group explained the numbers to Goal:

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We've seen Premier League clubs again use the January window to invest significantly in playing talent. With a day left, the total gross spending this season has already reached £1bn for the first time.
Last January saw £45m spent by Premier League clubs on the final day of the transfer window, and with further spending expected over the coming hours, Premier League gross transfer spending looks set to comfortably exceed the £1bn mark for the 2015-16 season.
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Newcastle United have been the division's biggest spenders in this window so far, splashing out a reported £29 million on deals for Henri Saivet, Jonjo Shelvey and Andros Townsend.

[h/t Goal]