England's Premier League clubs spent a record £950 million on the August and January transfers this season even though spending in the winter window only matched last year's figure of £130 million, according to accountancy firm Deloitte.

Despite clubs’ “relative restraint” in January, the total spending in 2014-15 surpassed the 2013-14 record of £760 million pounds, Deloitte said.

The amount spent in January though was far less than the £225 million pounds record for the winter established in January 2011.

Dan Jones, partner in the Sports Business Group at Deloitte who have been monitoring the spending of clubs for the last two decades, said: "Given the record level of spending seen in the summer, it is not entirely surprising that we haven't seen a new record for the January window."

The last-minute shopping spree often associated with the closing of the January transfer window failed to materialise last night as Europe’s top clubs largely kept their powder dry.

The lack of trading was unusually light, leaving presenters of Sky Sports News’ much-hyped deadline day coverage programme desperately searching for something to talk about.

Fair play

Uefa’s Financial Fair Play rules have made it less likely that clubs sign players without first off-loading some of their squad, stalling the usual merry-go-round.

Transfers of players from the Premier League to other European leagues is also hindered by the huge salaries.

The reluctance of club managers to part with players at such a delicate phase of the season has also become an increasing factor in the mid-season window.

Speaking to the BBC, former Hull City chairman Paul Duffen explained the lack of January activity.

"Getting players out in the market, there are problems such as liquidity. Clubs don't have it, apart from Chelsea today," he said. "There is the danger in January for a player that if it goes wrong, it could harm their career.

“They could find they go on loan at a club who get relegated and end up in a worse situation than they were.”