New research from business advisory firm Deloitte has revealed that Premier League clubs have shown more 'restraint' in summer transfer dealings this year, compared with previous years.

The collective total spent by the competition's 20 clubs on transfers during the 2010 close season is estimated to be around £350m, which Deloitte said is a decline of 22 per cent on the amount spent last summer. Manchester City Football Club accounted for more than a third of the Premier League's total expenditure, with around £125m spent on players acquisitions. Three clubs - Manchester United, Chelsea and Liverpool - spent around £25m.

Despite the overall decline in transfer spending by Premier League clubs, the research revealed that fees payable to overseas clubs grew by two-thirds and accounted for approximately 75 per cent of clubs' collective expenditure. Dan Jones, partner in Deloitte's sports business group, said: "In general, an absence of new owners and clubs striving to improve their financial balance has diminished the vibrancy of the transfer market."

Paul Rawnsley, director in the sports business group, added: "Without further significant capital injections from owners, transfer spending is unlikely to exceed the high watermark achieved in 2008." Image: Manchester City Football Club has accounted for a third of the league's total transfer expenditure this summer