SportsBusiness: Premier League clubs’ spending hits £2.36bn after deadline day

As the 2023 summer window finally closes, Premier League clubs have reached another record spending having churned out a whopping £2.36bn.

According to financial services company Deloitte, the cumulative expenditure of the 20 teams throughout the window breaks the previous spending record of £1.92bn set last summer by £440m.

On deadline day alone, Premier League clubs spent £255 million, more than doubling the £120 million they spent on the same day during the previous summer’s window.

With the January transfer window still to come, that already makes the 2023–24 season’s transfer spending the second-highest ever, behind only last season’s record £2.73 billion.

Tim Bridge, lead partner in Deloitte’s Sports Business Group, said: “A second successive summer of record spending by Premier League clubs suggests that year-on-year revenue growth could return following the pandemic

Read Also: SportsBusiness: Premier League transfer spending rises to record-breaking level

“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.”

Meanwhile, Super Eagles star, Alex Iwobi was one of the notable moves completed in Friday’s deadline day, as the midfielder switched from Everton to Fulham in a £22m transfer.

The biggest Premier League deal of deadline day saw Manchester City sign Portugal midfielder Matheus Nunes from Wolves for £55m. The Premier League champions also sold Cole Palmer to Chelsea for £40m.

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