€1.1 billion Premier League January spending 90% more than previous record

Premier League clubs spent a record £815m (€1.13bn) in the January transfer window to complete a season of unprecedented investment.

The gross spend for 2023's window was 90% higher than the previous record of £430m in 2018 and almost triple the previous January window (£295m).

The record for a full season had already been broken by a £1.92billion summer outlay, with that mark soon extended through £2bn for the first time and to an eventual total of £2.8bn – a new all-time high.

Calum Ross, assistant director in Deloitte’s Sports Business Group, told the PA news agency: "Record transfer spend in January, surpassing the previous record of £430m in January 2018.

"(In terms of) a seasonal spend in 2022-23, Premier League clubs are now over £2.5billion which highlights the level of capability of spend that they’ve got in the market at the moment."

Premier League clubs also set a record for net transfer expenditure during a January window with a net spend of £720m, eclipsing the previous record set in January 2022 (£180m).

As has been the trend in recent seasons, the English top flight far outpaced the rest of Europe – even the other members of the so-called 'big five' leagues in Spain, Italy, France and Germany, where there was a cumulative gross spend of €255m (£225m), representing a year-on-year fall of 35% compared to January 2022 (€395m, £348.7m).

Ross added: "When you look at the January transfer window alone, Premier League clubs have spent three times more than the other ‘big five’ leagues combined.

"And then when you look at seasonal spend, again, when you combine those other big five leagues together, the Premier League is spending more than all of those combined, which is just incredible.

"You have the spend of the Premier