On a busy deadline day, Premier League clubs have already spent more than £2 billion on transfers in this summer window.
It is the first time that spending has gone beyond the £2 billion mark and the enormous outlays are another sign of the division’s remarkable financial strength.
Here, Telegraph Sport provides a full analysis of each club’s transfer window – the buys, the sells and the loans – and ranks each team by total spend, sales and net spend for the window.
How much has your club really spent? How does that compare to similar teams in the division? And what conclusions can be drawn from another wild summer in the transfer market?
Click one of the following links to jump to each club’s incoming and outgoing business: Arsenal, Aston Villa, Bournemouth, Brentford, Brighton, Burnley, Chelsea, Crystal Palace, Everton, Fulham, Liverpool, Luton Town, Manchester City, Manchester United, Newcastle United, Nottingham Forest, Sheffield United, Tottenham, West Ham United, Wolves.
2023: the year of the midfielder
The pre-season transfer window of 2022 marked the summer of the striker, with five of the so-called ‘big six’ sides investing in a new forward. Between them, Manchester City, Liverpool, Arsenal, Chelsea and Tottenham Hotspur spent a combined total of more than £230 million on attackers.
This year, though, midfielders have become the most in-demand players. At the time of writing, with more big-money deals still to come, the 20 Premier League sides have spent a combined total of £942 million on new midfielders alone.
With fees agreed for Matheus Nunes (Wolves to Manchester City) and Ryan Gravenberch (Bayern Munich to Liverpool), that total is set to comfortably exceed £1 billion before the window closes.
The two biggest deals in the Premier League have both been for central midfielders: Moises Caicedo’s £115 million move from Brighton to Chelsea, and Declan Rice’s £105 million transfer from West Ham United to Arsenal.
Dominik Szoboszlai, meanwhile, cost Liverpool a total of £60 million, while Arsenal paid £65 million to sign Kai Havertz from Chelsea and Newcastle United spent £55 million on Sandro Tonali.
Within the ‘big six’, Liverpool, Arsenal and Chelsea have all reshaped (or, in Liverpool’s case, entirely rebuilt) their midfields this summer. Manchester City have moved to sign two new central players (Nunes and Mateo Kovacic), following the loss of Ilkay Gundogan, and both Manchester United (Mason Mount, £60 million) and Tottenham Hotspur (James Maddison, £45 million) have invested significant amounts in new midfield players.
Young talent does not come cheap
Between them, Alex Scott (aged 20), James Trafford (20) and Cameron Archer (21) had a total of nine Premier League appearances to their names before the start of this season. Their combined cost to Bournemouth, Burnley and Sheffield United this summer? £62.5 million.
Romeo Lavia (19), meanwhile, cost Chelsea a total of £58 million after one season in the Premier League, in which he made 29 appearances. Cole Palmer (21) has cost Chelsea around £45 million – after a grand total of 19 Premier League appearances for Manchester City (zero goals, one assist).
Has potential ever been so expensive? These are remarkable fees for largely untested young players and they are examples of how clubs are increasingly treating their signings as long-term investments. Young players are generally on lower wages, and their lengthy contracts often allow the buying clubs to spread the cost of the transfer fee over many years.
On the eve of deadline day, the average age of all Premier League signings this summer was just 24.3 years old. The average age of all signings at Burnley, Sheffield United, Bournemouth, Tottenham, Chelsea and Newcastle was less than 23. Only at Fulham, Luton Town and Everton has the average age of signings been higher than 26.
Clubs are largely willing to spend money, then, but they generally do not want to do so on players who are older than 25. Indeed, the 10 most expensive signings in the Premier League this summer have all been players who are aged 24 or under. The average age of those 10 players is just 21.9.
As it stands, the most expensive players over the age of 25 this summer have been Andre Onana (£47.5 million from Inter Milan to Manchester United) and James Maddison (£45 million from Leicester City to Spurs).
Premier League giant… to Premier League giant
What do Manchester City, Arsenal, Manchester United and Newcastle United all have in common? That’s right, all of them qualified for this year’s Champions League by finishing in last season’s top four.
There is something else they share, though. This summer, all four of them have bought players from Chelsea. For City, it was Kovacic. For Arsenal, it was Havertz. For United, it was Mount. And for Newcastle, it was Lewis Hall.
Evidently, Chelsea’s eagerness to flog their unwanted players, especially at the start of the window, is the main reason for this. But it marks a continuation of a pattern which began to form last year, when City sold Gabriel Jesus and Oleksandr Zinchenko to Arsenal, and allowed Raheem Sterling to join Chelsea. In January, Jorginho swapped Chelsea for Arsenal.
Deals between the so-called ‘big six’ are becoming more and more frequent. Why? The obvious answer is that the Premier League clubs are the ones with all the money, and that there are not many European teams who can pay the wages or transfer fees required to sign a top player at a Premier League club.
There is also an element of playing it safe. These are players who know the league and who, theoretically at least, will require less time to adapt. If a club is to spend, say, £65 million on a new midfield player – as Arsenal did with Havertz – they want to know that the player already understands the demands of Premier League football.