The Premier League spent a record-breaking £2.36 billion in signing new players in the 2023 summer transfer window, which is the highest expenditure in a single transfer window in the history of football.
Financial services business group Deloitte said all the 20 Premier League clubs spent £440 million more than the previous record of £1.92 billion set last summer.
On September 1, which is the 2023 summer transfer window deadline day, Premier League clubs spent a record-breaking £255 million on new players.
This has also broken the record set last summer in which Premier League clubs spent a whopping £120 million on the last day of the transfer window.
As it stands, the transfer fee spent so far in the 2023-2024 Premier League season is the second highest expenditure in a single season in the history of the league and football as a whole even though the expected expenditure for the January transfer window has not been included yet.
Recall that in the 2022-2023 season, Premier League clubs spent £2.73 billion in the summer and winter transfer windows combined which remains the highest in history.
Only this summer, the Premier League clubs have already spent £2.36 billion which means that they need to spend less than £40 million in the winter transfer window to set a new world record on total transfer fees spent in the summer and winter transfer windows.
The lead partner in Deloitte’s Sports Business Group, Tim Bridge, said: “A second successive summer of record spending by Premier League clubs suggests that year-on-year revenue growth could return following the pandemic.
“Nearly three-quarters of Premier League clubs (14) spent more this summer than the last, reflecting the increased intensity of competition.
“There continues to be pressure on clubs to acquire top talent to satisfy their on-pitch objectives, whether that’s qualifying for European competition or simply maintaining their position in the Premier League.”
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