Premier League summer spending tops £2bn for first time – and more records set to fall
Premier League spending has passed the £2bn mark for the first time in a single transfer window as England’s leading clubs have flexed their financial muscle.
With several days left before the transfer deadline on Friday at 11pm, top-flight teams have already exceeded the record £1.92bn lavished last summer.
And they could yet surpass £3bn for the calendar year, having shelled out more than £800m during an unprecedented January spree.
“For the second year in a row, the summer transfer spending by Premier League clubs has surpassed the previous record,” said Calum Ross, assistant director in Deloitte’s Sports Business Group.
“This sensational level of spending appears to be the new norm for Premier League clubs. They are generating unprecedented levels of revenue, which for some clubs is combined with the receipt of significant investment from new ownership.
“As we approach the end of the transfer window, it remains imperative that clubs manage the buying and selling of players carefully and remain compliant with relevant financial regulations. Sustainable business plans are essential to support continued competitiveness and long-term growth.”
West Ham United’s £38m signing of Ghana midfielder Mohammed Kudus from Ajax at the weekend took the Premier League’s total summer spending past £2bn.
It currently stands at £2.02bn, with more big deals anticipated before Friday. Last summer, £500m was spent in the final week and £120m on deadline day alone.
Added to the £815m spent in January, it means Premier League clubs have bought £2.835m of playing talent in 2023.
This summer’s outlay has been driven by some landmark deals, such as Chelsea’s Premier League record £115m signing of midfielder Moises Caicedo from Brighton.
The Blues alone have spent close to £1bn in three transfer windows since their takeover by Todd Boehly’s consortium last summer.
Arsenal have also invested heavily, making Declan Rice the most expensive Englishman of all time in a £105m switch from West Ham.
Champions Manchester City paid £78m to prise Croatia defender Josko Gvardiol from RB Leipzig and are among the teams tipped to spend again before Friday.
City have been credited with interest in Wolves midfielder Matheus Nunes, who on Monday reportedly refused to train in the hope of forcing a transfer.
The average price paid for a player by Premier League clubs, where a fee was involved, has risen from £20m last year to around £25m, Deloitte said.
But despite the overall increase in outlay, the league’s collective net spend was down thanks in part to big fees being received from overseas, notably Saudi Arabia.