Transfers: Premier League Clubs Spend Record £1.5 Billion In Summer

by Echezona obinna
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According to sports finance experts Deloitte, Premier League clubs have broken their summer transfer window spending record.

On Thursday, gross spending by the 20 Premier League teams reached £1.5 billion ($1.7 billion), breaking the previous year’s record of £1.43 billion spent by English clubs in the close-season window.

It is also more than the £1.44 billion spent over the entire previous season.
With less than a week until the window closes on September 1, the all-time high for a single Premier League season, £1.86 billion in 2017-18, could be surpassed in the current summer window alone.

“The record levels of spending that we’ve seen in this summer transfer window so far provides a sign that the business models of Premier League clubs are rebounding post-Covid,” Chris Wood, assistant director in Deloitte’s Sports Business Group said.

“Whilst this is encouraging, the importance of clubs establishing responsible and sustainable spending policies cannot be overstated.

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“Clubs must balance their desire to be competitive on-pitch with the need to protect long-term financial and operational viability.”

Premier League clubs have signed 135 players this summer, already more than in the 2019 or 2020 summer windows and closing on last August’s 148.

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Two-thirds of those have seen a fee paid, including 14 separate players moving for reported fees in excess of £30 million.

That list is topped by Benfica forward Darwin Nunez’s £85.5 million move to Liverpool.

Chelsea have spent £60 million on Marc Cucurella, £47.5 million on Raheem Sterling and £34 million on Kalidou Koulibaly.

Manchester United splashed out £60 million on Real Madrid midfielder Casemiro, while Manchester City paid £50 million for Borussia Dortmund striker Erling Haaland.

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Arsenal spent a combined £77 million on Manchester City duo Gabriel Jesus and Oleksandr Zinchenko.

Tottenham laid out £60 million to bring Brazilian striker Richarlison from Everton, while West Ham, Nottingham Forest and Wolves have also engaged in substantial spending.

 

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