Premier League clubs have smashed their summer transfer spending record for a second straight season, spending around £3.46 billion ($4.67 billion) as teams across England’s top flight invested heavily in new players.
The spending spree reached its peak in the final hours of Tuesday’s transfer window. Several clubs completed major deals before the 11 p.m. deadline.
Big-money transfers drive spending
Manchester City led the way with £458 million in spending. The club completed the signing of Argentina midfielder Enzo Fernandez from Chelsea for a reported British record-equalling £125 million.
City also signed Senegal winger Iliman Ndiaye from Everton for a reported £65 million. The club had earlier brought in midfielder Elliot Anderson from Nottingham Forest for £116 million.
Chelsea also spent heavily. The London club invested £349 million to support new manager Xabi Alonso. Chelsea signed Morgan Rogers from Aston Villa for £117 million.
Liverpool agreed to pay an initial £107 million to Paris St Germain for France forward Bradley Barcola. The deal could rise to £123 million.
Tottenham Hotspur spent £303 million as they continued their squad rebuild. The club also broke its transfer record by signing Newcastle United midfielder Sandro Tonali in a deal that could reach £100 million.
Premier League clubs spend more
The latest figures show how quickly transfer spending has grown in England. Premier League clubs crossed the £3 billion mark for the first time last summer.
Five years ago, the combined spending stood at £1.13 billion.
Four of the 11 most expensive signings in Premier League history also arrived this summer. They are Fernandez, Anderson, Rogers and Barcola.
Clubs have also increased their spending on players from other Premier League teams. Around 38% of deals involved moves between top-flight clubs, compared with 30% last summer.
Promoted clubs add to the spending
The three promoted clubs also made major investments. According to Transfermarkt, Ipswich, Coventry City and Hull City spent more than £400 million combined as they prepared for life in the Premier League.
Aston Villa announced their 11th signing of the window after paying £47 million for Senegal winger Ibrahim Mbaye from Paris St Germain.
Newcastle United also paid £51.4 million for Lille forward Matias Fernandez-Pardo.
Sunderland signed highly rated Belgian winger Malick Fofana from Olympique Lyonnais for a reported £30 million after beating Crystal Palace to his signature.
Some deadline-day deals collapse
Not every major deal reached completion.
Everton’s move for U.S. striker Folarin Balogun collapsed after the player decided against proceeding with the transfer.
Chelsea also failed to complete a reported £47.1 million move for Senegal midfielder Lamine Camara, who remained at Monaco.
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