Exorbitant transfer market: Premier League on a spending rampage

July 1 is a date marked in red on the European soccer calendar—not for its importance on the pitch, but because it marks the start of the transfer window, one of the most eagerly watched periods in the sport. Clubs scramble to strengthen their squads before the new season, seeking reinforcements for every position to avoid weaknesses on the field.

The last transfer window, which closed on September 1, left no shortage of excitement: European clubs spent billions of dollars on new signings to bolster their squads. One league in particular—consistently at the center of attention—dominated the market, with its teams breaking the competition’s spending record.

The Premier League sweeps the board: more than US$4 billion

has dominated the latest transfer market, with English clubs once again the biggest spenders in European soccer. From July 1 to September 1, they set a new record for spending in a single window, totaling over $4 billion on player signings, according to consulting firm Deloitte. 

Premier League teams have spent over $2.6 billion on new signings across three consecutive summer transfer windows, each running from July 1 to September 1.

"A third record-breaking summer of Premier League spending in four years sends a strong signal that, despite subdued spending across the rest of the continent, clubs have no plans to slow down their investment in the on-pitch product. With more English teams than ever competing in European competitions - more than any other league across Europe – Premier League clubs are looking to attract the best talent and further cement the league as the most competitive in world soccer," said Tim Bridge, lead partner in the Deloitte Sports Business Group.

Liverpool have invested the most in transfers.

Among the 20 Premier League clubs, Liverpool has spent the most in this transfer window. Despite winning last season and entering this one as reigning English champions, the Reds have invested around $560 million to strengthen their squad, aiming to retain their domestic title and pursue success in the UEFA Champions League, according to specialist website Transfermarkt.

Among Liverpool’s signings, Alexander Isak stands out. The club reportedly paid around $170 million to Newcastle for the Swedish striker, making it the most expensive transfer of this window in European soccer and the third-highest transfer in history. Other arrivals include German midfielder Florian Wirtz from Bayer Leverkusen for approximately $145 million and French striker Hugo Ekitiké, for whom Liverpool paid $110 million to Eintracht.

Several teams aiming to challenge Liverpool for the English title have also invested heavily in their squads. Chelsea, a club known for being a major player in every transfer window, spent around $380 million on signings, including Brazilian striker Joao Pedro ($75 million from Brighton) and British winger Jamie Gittens ($65 million from Borussia Dortmund). Notably, the club earned more than it spent—about $387 million from player sales—leaving them with a positive net balance.

Another club that has spared no expense is Manchester City, aiming to reclaim its place at the top of English and European football after a disappointing season. Under Pep Guardiola, the team has spent around $240 million on signings, including Dutch midfielder Tijjani Reijnders ($64 million from AC Milan) and Italian goalkeeper Gianluigi Donnarumma ($35 million from Paris Saint-Germain).

Other Premier League clubs have also made major investments this window, including Arsenal ($342 million), Newcastle ($336 million), Nottingham Forest ($276 million), and Tottenham ($244 million). Manchester United, seeking to reverse its recent sporting struggles, spent $292 million on new signings, including Slovenian striker Benjamin Sesko ($90 million from RB Leipzig) and Cameroonian winger Bryan Mbeumo ($87 million from Brentford).

Atletico Madrid and Real Madrid lead Spanish spending.

Far behind the Premier League’s spending are other major European clubs. In LaLiga, the 20 Spanish teams reportedly spent around $796 million, according to Transfermarkt reports—roughly one-fifth less than the Premier League’s total.

Atlético de Madrid leads LaLiga’s spending, with manager Diego Pablo Simeone’s squad investing around $205 million. Spanish midfielder Alex Baena was the club’s priciest signing, arriving from Villarreal for $49 million. Other additions include Slovak defender David Hancko ($30 million) and American midfielder Johnny Cardoso ($28 million)."

Their main rival, Real Madrid, is the second-highest spender in Spain, investing around $195 million. After a season below their usual standards, Europe’s most successful club changed managers, with Spanish coach Xabi Alonso replacing Italian Carlo Ancelotti to steer the team back to the top. The club has also signed new players, including English defender Trent Alexander-Arnold ($111 million from Liverpool), Argentine winger Franco Mastantuono ($52 million from River Plate), and Spanish defenders Dean Huijsen ($73 million) and Álvaro Carreras ($58 million). 

Reigning LaLiga champions FC Barcelona have spent just around $33 million on new signings. Among their additions are Spanish goalkeeper Joan Garcia, who joined from RCD Espanyol for $29 million, and English winger Marcus Rashford, arriving on loan from Manchester United.

Other Spanish clubs active in this transfer window include Villarreal ($119 million) and Real Betis ($72 million)

AC Milan and Juventus want to regain their status.

In Italy, the 20 Serie A clubs have spent a total of $1.369 billion on new players, according to Transfermarkt Transfermarkt—about a third less than the Premier League.

Two of Italian soccer’s most storied clubs, AC Milan and Juventus, have led Serie A spending. Both aim to reclaim the status they lost in recent seasons. The Rossoneri reportedly spent around $190 million on signings, including French striker Christopher Nkunku ($43 million from Chelsea) and Italian midfielder Samuele Ricci ($27 million from Torino). Juventus, meanwhile, invested approximately $159 million, bringing in players such as Portuguese winger Francisco Conceicao ($37 million from Porto).

Reigning Serie A champions SSC Napoli have spent $134 million on new signings, including Spanish winger Miguel Gutierrez ($21 million from Girona) and Dutch winger Noa Lang ($29 million from PSV Eindhoven).

Inter Milan have invested around $108 million in an effort to claim the Serie A title, which they narrowly missed last season. Their signings include Brazilian winger Luis Henrique ($27 million from Olympique de Marseille) and Swiss defender Manuel Akanji (on loan from Manchester City).

Atalanta ($147 million), Como 1907 ($124 million) and Fiorentina ($106 million) are the other three Serie A teams to have spent more than $100 million on transfers.

Bayern and PSG spend, but not the most in their respective leagues.

The list of the five major European leagues is closed by Germany and France. In the Bundesliga, teams have spent $996 million, according to reports from Transfermarkt. The Bayern Munich, the competition's most successful team, has spent $104 million on signing new players, such as Colombian winger Luis Diaz (from Liverpool for $81 million).

Among German clubs, the biggest spenders have been Bayer Leverkusen ($230 million), which had to rebuild after losing key players. RB Leipzig ($158 million) and Borussia Dortmund ($116 million) also invested heavily.

Finally, the teams that make up Ligue 1 have spent $770 million on transfers, according to data provided by Transfermarkt. Their reigning champions—and UEFA Champions League winners—Paris Saint-Germain aim to replicate last season’s success. To do so, they’ve spent $120 million on players such as French goalkeeper Lucas Chevalier (from Lille for $47 million) and Ukrainian defender Ilya Zabarny (from Bournemouth for $73 million).

The RC Strasbourg has paid $149 million, the most among Ligue 1 teams, while Olympique de Marseille has brought in players valued at $112 million.