Premier League clubs fork out record 815m pounds in January transfer window

Madrid Desk, Feb 1 (EFE).- English Premier League clubs have sent records tumbling after forking out some 815 million pounds (roughly $1bn) during the January transfer window with London side Chelsea leading the pack.

Transfer spending for the whole 2022/23 season topped 2.8 billion pounds with summer deals taken into account, according to services giant Deloitte.

Transfer spending in January 2023 nearly doubled the previous record of 430 million pounds in 2018 and almost tripled the previous January window total of 295 million pounds, the firm added in a report Wednesday.

Chelsea, under new American ownership, spent more in the January 2023 window than Europe’s Serie A, Bundesliga, LaLiga and Ligue 1 combined, the report said.

Tim Bridge, lead partner in Deloitte’s Sports Business Group, said: “Premier League clubs have outspent those within the rest of Europe’s ‘big five’ leagues by almost four to one in this transfer window, allowing them to hold on to their key players, while attracting top-talent from overseas.

“However, while there is a clear need to invest in squad size and quality to retain a competitive edge, there will always be a fine balance to strike between prioritizing success on-pitch and maintaining financial sustainability.”

Chelsea’s last-minute signing of Enzo Fernández from Benfica for a reported 1.7 million pounds surged the club’s expenditure just before the window closed at 11pm local time in the UK Tuesday.

The Argentine World Cup winner joins a host of new stars secured by the London club including Ukrainian Mykhailo Mudryk and Portugal’s Joao Félix on loan from Atletico Madrid.

Cross-town rivals Arsenal also brought in reinforcements in January in the shape of Belgian Leandro Trossard from Brighton for a reported 21 million pounds and Jorginho from Chelsea for 12 million.

There was slightly less movement from the other big-hitters in the Premier League, with beleaguered Liverpool signing Cody Gapko from PSV Eindhoven for 44.3 million pounds and Manchester United bringing in loan players Wout Weghorst from Burnley and Marcel Sabitzer from Bayern Munich.

Manchester City’s most notable move was to send Joao Cancelo on loan to Bayern Munich, who are likely to trigger a buy option in the summer.

“The record spending by Premier League clubs this season is beyond anything that we’ve seen before. It is a clear indication of talent acquisition being core to Premier League clubs’ business strategies,” Bridge added.

“In securing the best available talent, clubs hope to improve results on the field, which in turn will enhance the appeal of the Premier League and further cement its position at the very top of world football.”EFE


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