The £285m ( 386m) spent by Premiership clubs in recent weeks is the most clubs have splashed out on summer signings since the transfer-window system was introduced by European leagues three years ago.

Paul Rawnsley, director of Deloitte's Sports Business Group, said the increase in spending had been fuelled by "renewed financial confidence from the TV deals announced earlier this summer and the World Cup shop window effect".

High-profile transfer deals often take place in World Cup years as top clubs vie to secure the services of the world's best players.

Among the more eye-catching was the transfer of Argentinian duo Carlos Tevez and Javier Mascherano from Brazilian club Corinthians West Ham United. The players had been linked with a host of top European clubs, including Manchester United and Bayern Munich, and their arrival at the comparatively low-profile East London club prompted much speculation, especially given the financial engineering behind the deal.

Corinthians' owner, London-based hedge fund MSI, transferred the players' registrations to West Ham. The club will pay their wages but does not have to pay a transfer fee, even though Tevez alone has been valued at more than 20m. The one proviso is that the Hammers are required to sell the players on if they receive any bids over an agreed minimum value, in which case the money received will go to MSI rather than West Ham.

Several other World Cup stars also moved during the transfer window, among them Ukrainian striker Andriy Shevchenko and German midfield star Michael Ballack, both of whom were signed by reigning Premiership champions Chelsea.

Chelsea's Premiership rivals have also been spending freely thanks to an inflow of new television money. The 20 Premiership clubs will share 2.5bn over the next three years following a new deal under which Sky Sports and Irish broadcaster Setanta secured the rights to televise the majority of the high-profile matches in the UK and Ireland. The rights fetched 65% more than in 2003 when Sky was the sole bidder.