Premier League clubs shatter transfer record with £1.4 billion spending

Premier League clubs spent a combined £1.41 billion in the 2017-18 summer transfer window, shattering previous expenditure records in the English top flight. 

More than £210 million was spent in the division on transfer deadline day alone, a new record, with Danny Drinkwater completing a £35m move from Leicester to Chelsea, Alex Oxlade-Chamberlain joining Liverpool from Arsenal for £35m, Tottenham completing a £23m move for PSG full-back Serge Aurier, and Mamadou Sakho leaving Liverpool for Crystal Palace for around £26m. 

Liverpool 10/1 for PL title

As such, Premier League clubs have broken the record for spending in a single season (£1.43bn) and calendar year (£1.65bn), meaning that gross spending has surpassed £10bn since the first transfer window in January 2003.

Dan Jones, who works for the sports arm of accountancy firm Deloitte, commented: “Premier League clubs have broken their own record for transfer expenditure for the sixth summer in a row. 

"With the continued growth in clubs’ revenues, principally from broadcast rights, it is no surprise that Premier League clubs have continued to maintain their leading position in the world’s player transfer market.

“Importantly, and when analysed in the context of generating record broadcast, commercial and matchday revenues, Premier League clubs are spending well within their means. For the last 15 years, annual transfer spending has remained within the range of between a fifth and a third, and averaged at around a quarter, of total revenues. 

"With Premier League clubs’ revenue showing no sign of decreasing in the foreseeable future, we would expect to see spending continue to rise.”

The 20 #PL clubs spent a net £665million in the 2017 summer transfer window, an average of £33.25m per club

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— Premier League (@PLSpokesman) September 1, 2017

Neymar's €222m switch from Barceona to Paris Saint-Germain eclipsed any previous fee paid for an individual in the sport, with Ousmane Dembele's €105m (potentially rising to €147m) move from Borussia Dortmund to Camp Nou and Kylian Mbappe's €180m transfer to PSG not far behind.

However, broadcast deals have allowed the Premier League to enjoy "unrivalled purchasing power", says Jones. 

“While the transfer record for a single player has again been broken by a major European club, the Premier League’s clubs enjoy an unrivalled depth of purchasing power, as a result of the League’s relatively equal – and transparent – distribution of broadcast revenues.

“Premier League clubs continue to benefit from a virtuous circle: investing record revenues to acquire some of the best playing talent from around the world, which in turn helps the Premier League secure substantial improvements in domestic and international broadcast deals, and helps individual clubs maximise commercial revenues and matchday attendances through stadium improvements and similar long-term investments.”

Romelu Lukaku's move from Everton to Manchester United, for a reported initial fee of £75m, was the biggest single deal for a Premier League club.

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