By Jonathan Davies

English football clubs have a transfer deficit of £379m, the largest of any country, according to a new report by Barclays.

Premier League clubs spent more on transfers this summer than ever before, with £579m being used to bring players to England from overseas clubs. But just £200m was recouped by selling players to overseas clubs.

Despite the £379m deficit, Barclays said the money from overseas television rights and sponsorship deals more than cover the clubs. The revenue generated from these sorts of deals totalled £1bn, according to Barclays' Football Balance of Trade report.

TV broadcast deals to countries outside of the UK generate more than £744m a year and foreign sponsorship deals are set to be worth £343m during the 2014/15 season.

Chris Lee, head of professional sports banking at Barclays, said: "While English football has run up the biggest trade deficit in world football transfers, the overall income it generates far outstrips the cost of importing players from overseas.

"Matches from England's premier league are beamed to around 211 countries across the globe, and overseas corporates want to be part of what is regarded by many as the best football league in the world

You can tweet your reactions to @freshbusiness or email editor@freshbusinessthinking.com

Join us on
Follow @freshbusiness