Premier League clubs set new spending record in January

Premier League clubs set new spending record in January

Premier League clubs have broken the record for transfer spending during the January window with a spree of £440 million ($542 million), according to sports finance experts Deloitte.

As of 1500 GMT on Tuesday, Premier League teams’ gross spending had surpassed the competition’s previous high of £430m in January 2018.

Financed by its new owners, Chelsea has boosted the record for January in the English top flight.

The Blues have spent around £180m this month, with Ukrainian winger Mykhailo Mudryk joining from Shakhtar Donetsk in a deal worth £88.5m.

Chelsea also brought David Fofana from Molde, Monaco’s Benoit Badiashile from Monaco, Andrey Santos from Vasco da Gama and Noni Madueke from PSV Eindhoven.

Dutch striker Cody Gakpo joined Liverpool from PSV for £44m in another of January’s big deals.

There is still a week left before the January window closes, leaving room for the new record to climb even higher.

In the January 2022 window, Deloitte said gross spending by Premier League clubs was £105m with one week to go and finished at £295m.

“January 2023 has already surpassed the record spent during any previous winter window as Premier League clubs look to bolster their squads ahead of a crucial second half of the season,” said Calum Ross, deputy head of Deloitte’s Sports Business Group. .

“The 2022-23 season has seen clubs invest heavily in their squads and Premier League clubs have spent over £2.4bn on player transfers to date this season.

“New ownership and the availability of financial resources to pay significant sums to maximize performance continue to be key factors in achieving record levels of spending.

“While this level of spending illustrates the recovery of Premier League clubs post-pandemic, the importance of long-term financial planning and a focus on financial sustainability must remain a priority.”

Deloitte said gross spending by Premier League clubs for the 2022-23 season so far is £2.4bn, with the new winter record following last summer’s record £1.9bn spending.

smg/bp

Leave a Comment

Your email address will not be published. Required fields are marked *