Premier League Teams Spend $4 Billion In Record Transfer Market

Premier League teams have spent more money buying new players than ever before in a record summer transfer window that cemented English football’s financial dominance over European rivals. 

Between them, the 20 clubs spent more than £3 billion ($4 billion), comfortably breaking the £2.4 billion peak set two years ago, according to the business consultancy firm Deloitte. The sum exceeds the continent’s other four big leagues combined. 

Headed by champion Liverpool, the trading frenzy comes despite rules designed to ensure that clubs do not put themselves in danger financially. Indeed, most Premier League teams make a loss and the spending has been in part financed by sales. Both Liverpool and Chelsea in particular balanced heavy spending with the sale of highly valued players.

Liverpool finished an already busy transfer window with the purchase of Alexander Isak from Newcastle United on deadline day for a record price. As of the close of trading at 7 p.m. on Monday, 15 teams each bought players worth more than a total of €100 million ($117 million), according to transfermarkt.co.uk. 

“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,” Tim Bridge, lead partner in the Deloitte Sports Business Group, said in a statement. 

Of those, some were trying to strengthen their squads to give themselves a better chance of staying in the league. All three promoted teams from the second-tier Championship were immediately relegated again last season. Sunderland, for example, spent €188 million.

English football’s finances have been pulling away from rival leagues largely down to broadcast income, especially in global markets. The Premier League’s sales of live matches overseas total €2.1 billion, comfortably exceeding the €1.4 billion made by the Spanish, German, Italian and French leagues combined, according to media subscription research firm Enders Analysis.

By contrast, France’s Ligue 1 teams were hit by a significant reduction in broadcast income because of a breakdown in a contract with the streamer DAZN. They spent €559 million, based on transfermarkt.co.uk figures. Only three teams spent more on players than they got from sales.

In Italy, Serie A teams spent €1.13 billion, while those in Spain’s La Liga spent a total of €608 million and Germany’s Bundesliga teams spent €775 million.