Premier League clubs shattered their single-season spending record during an incredible £1.9 billion ($2.1 billion) spree during the summer window.
Deloitte’s Sports Business Group estimated the gross spending by the 20 English top-flight clubs during the transfer window that ended on Thursday was the highest in the history of the competition.
Despite the cost-of-living crisis gripping Britain, Premier League teams needed just one window to break the £1.86 billion mark set in the summer and winter transfer periods combined during the 2017-18 season.
According to Deloitte, the gross spend on a total of 169 players was also 34 percent higher than the previous record for a single window of £1.4 billion in the summer of 2017.
It was 67 percent higher than last year’s total Premier League summer window spend of £1.1 billion.
“Gross spend was so high among Premier League clubs this summer that, before this season’s January transfer window had taken place, the 2022/23 season already has the highest transfer spend since the two-window season began, exceeding the previous record by 3 percent (2017/18’s £1.86 billion),” Deloitte said.
Nine Premier League clubs spent over £100 million each as expenditure recovered dramatically after two seasons of decline caused by the financial fall-out from the coronavirus.
In total, the Premier League spent more than Spain’s La Liga, Italy’s Serie A and Germany’s Bundesliga combined.