Premier League clubs smash record spending spree in £1.9bn

Premier League clubs smashed the single-season spending record during an incredible £1.9 billion ($2.1 billion) spree during the summer season.

Deloitte’s Sports Business Group estimated that gross spending by England’s top 20 clubs during the transfer window that ended on Thursday was the highest in the competition’s history.

Despite Britain’s cost-of-living crisis, Premier League clubs needed just one window to break the £1.86 billion threshold set in the summer and winter transfer window combined during the 2017-18 season.

According to Deloitte, the gross spend on a total of 169 players was also 34 per cent higher than the previous record for a single window of £1.4bn in the summer of 2017.

It was 67 per cent higher than last year’s total Premier League summer spend of £1.1 billion.

“Gross spending has been so high among Premier League teams this summer that, ahead of this season’s January transfer window, the 2022/23 season already has the highest transfer spend since the start of the two-window season, surpassing the previous record by 3 percent. (£1.86 billion 2017/18),” Deloitte said.

Nine Premier League clubs spent more than £100m each as spending rebounded dramatically after two seasons of decline brought on by the coronavirus financial crisis.

Overall, the Premier League spent more than Spain’s La Liga, Italy’s Serie A and Germany’s Bundesliga combined.

Tim Bridge, senior partner in Deloitte’s Sports Business Group, said: “The record level of spending during this transfer window is a clear indication of the confidence of Premier League clubs as fans return to stadiums and a new broadcast cycle begins .

“It is now part and parcel of the Premier League that clubs are willing to pay significant sums to maximize performance.

“This season, the desire to acquire playing talent has reached new levels as the pressure on clubs to stay in the competition is greater than ever.”

– The Chelsea figure –

New ownership at Chelsea, with Todd Boehly’s consortium taking over from Roman Abramovich, acted as a catalyst for increased spending.

At £255 million, Chelsea spent more in one window than any team in Premier League history.

Their spending was £53m more than Manchester United, who were the next biggest in this window with £202m.

United’s £82m deadline day signing of Ajax striker Anthony was the fourth biggest transfer in Premier League history.

Liverpool’s move for Benfica striker Darwin Nunes could eventually exceed that fee, with the initial £67m outlay potentially rising to £85m depending on contract clauses and add-ons.

Chelsea’s biggest deal of the season was the £70m purchase of French defender Wesley Fofana from Leicester.

Boehly also funded moves for Marc Cucurella (£60m), Raheem Sterling (£50m), Kalidou Koulibaly (£33m) and Pierre-Emerick Aubameyang (£10.3m)

At Old Trafford, Casemiro (£60m) and Lisandro Martinez (£51m) joined Antony in United’s top 10 most expensive signings of all time.

Champions Manchester City have bolstered their squad with a £50million move for Borussia Dortmund striker Erling Haaland, who has already started to repay that sum with nine goals in five games.

Newcastle striker Alexander Isak and West Ham midfielder Lucas Paqueta were among seven players signed for over £50m this summer, with 19 signings for £30m or more.

Even Nottingham Forest, back in the Premier League for the first time since 1999, recorded a gross outlay of £126m on a staggering 21 players.

This was only the third time Deloitte reported that a club spent more than £100m immediately after promotion to the Premier League.

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