Premier League clubs spend record US$2.97 billion in transfer window

Premier League clubs spent a record £2.36 billion pounds (US$2.97 billion) on new players in the recently concluded transfer window, according to analysis from Deloitte.

The transfer window, which opened on Jun 14 before closing on Sep. 1, exceeded last year's record £1.92 billion, with the top-flight clubs spending £255 million (US$320.99 million) on deadline day alone, it said.

Premier League clubs are responsible for 48 per cent of the total spending across Europe's top five leagues, which include the LaLiga, Serie A, Bundesliga and Ligue 1.

"A second successive summer of record spending by Premier League clubs suggests that year-on-year revenue growth could return following the pandemic," Tim Bridge, lead partner in Deloitte's Sports Business Group, told the BBC. "Nearly three-quarters of Premier League clubs (14) spent more this summer than the last, reflecting the increased intensity of competition.

"There continues to be pressure on clubs to acquire top talent to satisfy their on-pitch objectives, whether that's qualifying for European competition or simply maintaining their position in the Premier League."

Chelsea has spent more than US$1 billion in transfer fees since the new ownership led by American Todd Boehly and Clearlake Capital completed their takeover of the club in May 2022.

The London-based club broke the British transfer record for the second time in a year by signing Ecuador midfielder Moises Caicedo for a reported £115 million, eclipsing the record £106 million they paid to sign midfielder Enzo Fernandez in January.

Champions Manchester City signed winger Jeremy Doku for £55 million last month, having brought in defender Josko Gvardiol for £77 million and midfielder Mateo Kovacic for £25 million earlier.