UEFA president Michel Platini has welcomed the decrease in player spending in Europe during the past transfer window, reports Sport Business. According to a study by Barcelona-based marketing company Prime Time Sport, the amount spent by clubs in the top five European leagues fell 29 per cent to €1.32 billion.

"It's good they are spending less money," Platini was quoted as saying by Bloomberg. "If they spent more money they would become bankrupt."

According to Prime Time squads were cut by 546 players across the five leagues, with the Spanish La Liga suffering the biggest reduction in spending (45 per cent), followed by the French Ligue 1, with 43 per cent.

Transfer investment decreased 32 per cent in the German Bundesliga and 18 per cent in the Italy's Serie A.

English Premier League's drop was of 15 per cent, but it continued to be the biggest spender.