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

With one week left until the transfer deadline, Premier League clubs have spent a record £1.95 billion on players this summer.

Deloitte data shows that the previous record of £1.92 billion, which was achieved last summer, has already been surpassed.

Clubs in England are set to break the £2bn barrier in the coming days, the report adds.

“For the second year in a row, the summer transfer spending by Premier League clubs has surpassed the previous record and looks set to rise above £2bn for the first time before the window closes on 1 September,” said Ross, assistant director in Deloitte’s Sports Business Group.

Ripples Nigeria recalls that there was no Premier League transfer that hit the £100m mark last summer, but this year Chelsea have added Brighton midfielder Moises Caicedo to their ranks for a £100m fee, with possibility of rising to £115m.

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Arsenal also signed England midfielder Declan Rice from West Ham for £100m plus £5m in add-ons.

Champions Manchester City have bought £77m defender Josko Gvardiol, £55.4m winger Jeremy Doku and midfielder Mateo Kovacic, who arrived for £25m from Chelsea.

Manchester United also purchased a new striker Rasmus Hojlund for £72m, while Newcastle United brought in Italy midfielder Sandro Tonali for £55m and Leicester forward Harvey Barnes for £38m.

BBC Sports writes that Burnley have spent an estimated £95m, including a club record £19m deal for England Under-21 goalkeeper James Trafford.

Last year’s Premier League runners-up Arsenal added to the Rice deal by buying Kai Havertz for £65m and Ajax defender Jurrien Timber for £34m.

“This sensational level of spending appears to be the new norm for Premier League clubs,” said Deloitte’s Calum Ross.

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