Liverpool, Arsenal win transfer window; Newcastle biggest losers - ESPN

For Europe's biggest clubs and leagues, the time for transfers in 2025 has come and gone, and they won't be able to do any more business until January. Which is probably a good thing given the overall spending record in the Premier League has been broken again.

Having had two transfer windows this summer — as FIFA allowed an additional registration period, which ran from June 1 to 10, due to the Club World Cup — the second period closed at 7 p.m. BST (2 p.m. ET) in England, Italy, France and Germany on Monday, and a few hours later in Spain.

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Now the clubs, players, managers and agents will sit back and assess. Some got their wishes and some didn't; some excelled in their movements over the summer, while others will be lamenting missed opportunities.

With that, let's look back at what happened during the window and sort the results into winners and losers (with a few who sit in between). Here's who nailed it — and who didn't.

We'll start with by far the biggest spenders, Liverpool. Only time will tell if this truly is the greatest transfer window of all time (as some excited individuals have claimed), but it's certainly an eye-popping haul of players.

The Reds broke the British transfer record twice this summer, first to sign Florian Wirtz from Bayer Leverkusen for £100m plus a potential £16m in add-ons, then again on deadline day to sign Alexander Isak from Newcastle United for £130m. Outside of these two monster deals, they also scooped up Hugo Ekitike for £69m, Milos Kerkez for £40m, Jeremie Frimpong for £29m and Giovanni Leoni for £26m. All of this business