Premier League transfer spending drops as window nears closure
As the summer transfer window enters its final week, Premier League clubs have spent £800 million less compared to last year. According to Football Transfers, the current spending stands at £1.5 billion, a significant drop from the record £2.3 billion spent in summer 2023.
The overall spending for the 2024 calendar year is also lower, with £1.6 billion spent so far, down from £3.1 billion in 2023.
However, this gap is expected to narrow as last-minute deals are completed before Friday’s deadline.
Despite this reduction in spending, the Premier League still leads Europe’s top leagues in total expenditure.
While English clubs have completed the same number of deals as La Liga (105) and fewer than Serie A (115) and Bundesliga (135), their spending far exceeds that of Italy (£617 million), France (£529 million), Spain (£435 million), and Germany (£462 million).
Factors behind the spending decline
Several factors have contributed to the reduced spending, including stricter compliance with profit and sustainability rules (PSR).
Premier League clubs are limited to a maximum loss of £105 million over three years, which has prompted a more cautious approach in the transfer market.
The perceived over-inflation of player values, particularly in Premier League-to-Premier League transfers, has also led clubs to be more prudent in their spending.
Paul MacDonald of Football Transfers noted that aside from clubs like Chelsea and newly promoted Ipswich, the market has been more subdued this summer.
The number of loan deals has also decreased, with only five completed compared to 26 last summer.
Club activity highlights
Southampton leads in the number of signings with 13 new players, while Liverpool has yet to make any acquisitions.
Chelsea continues to be the biggest spender, with £204 million spent so far on players like Pedro Neto (£54 million), Joao Felix (£45 million), and Kiernan Dewsbury-Hall (£30 million).
Chelsea is also looking to offload several players, including Raheem Sterling and Romelu Lukaku, to balance their finances.
Aston Villa follows as the second-highest spender with £149 million, primarily on Amadou Onana and Ian Maatsen. Brighton ranks third with £144 million in spending, with additional signings expected.
Manchester United has also been active, spending £140 million on players like Matthijs de Ligt and Leny Yoro.
Tottenham made the most expensive individual signing, acquiring Dominic Solanke from Bournemouth for £65 million, contributing to their £126 million total outlay this summer.
Source: bbc.com
