Another transfer window is in the bag. As the clock struck 11pm – and admittedly some time after – clubs were wrapping up their business and settling their playing squads ahead of the final crucial months of the season.
The Premer League, of course, led the way in Europe when it came to spending with some eye-watering sums flying about, not unlike the private jets transporting players to their new destinations.
According to figures from Deloitte, Premier League clubs accounted for 79% of total spending across Europe’s ‘big five’ football leagues in January – marking the highest proportion ever reported.
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Such was the extent of the lavish, gaudy spending, a number of records have fallen making this one of, if not the most, extravagant transfer window the sport has ever seen.
Record transfer deal – Enzo Fernandez to Chelsea
The biggest deal to go down on deadline day was Chelsea’s capture of Enzo Fernandez.
That fee is a British transfer record for a player, exceeding the £100m Manchester City paid for winger Jack Grealish from Aston Villa in the summer of 2021.
What is all the more remarkable about the outlay on Fernandez, who won the young player of the tournament award in Qatar, is that he only joined the Portuguese club last summer for a mere £8.6m.
Record Deadline day – £275m
Chelsea’s big spend on Fernandez was a huge factor but they were by no means the only Premier League club to splash the cash on deadline day.
London rivals Tottenham also went big on a promising young player from a Portuguese side, shelling out £45m on Sporting’s Pedro Porro, as Arsenal opted to relieve Chelsea of a midfielder by giving them £12m for Jorginho.
The likes of Leicester, Bournemouth and Southampton also had no issue opening their wallets on the last day of the window, taking the total spend on the day to £275m – eclipsing the £150m spent on deadline day in January 2018.
Record winter – £815m
Consequently, this January window spend of £815m in total almost doubles the £430m outlay from the winter of 2018.
As well as Fernandez, with the earlier January acquisitions of Mykhailo Mudryk (£90m), Malo Gusto (£30.7m), Benoit Badiashile (£35m), Noni Madueke (£30.7m), Andrey Santos (£18m) and David Datro Fofana (£8m), as well as the £10m loan fee for Joao Felix, Chelsea’s total spend alone in the window exceeds £300m – comfortably more than the total spend of the rest of Europe’s ‘big five’ leagues (Italy, Spain, France, Germany) combined, which came in around £225m.
Chelsea rolled the dice this month
Image credit: Getty Images
Record season – £2.8bn
In total, English top-flight clubs have spent a quite obscene £2.8bn on transfers in the 2022/23 season, following the £1.9bn already spent during the summer window.
“The record spending by Premier League clubs this season is beyond anything that we’ve seen before,” said Tim Bridge, lead partner in Deloitte’s Sports Business Group.
“It is a clear indication of talent acquisition being core to Premier League clubs’ business strategies. 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.
“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 prioritising success on-pitch and maintaining financial sustainability.”
Rest of Europe
It was a very different story throughout the rest of Europe, with even the biggest clubs on the continent shopping in a different market completely.
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In terms of spending, Marseille’s £25m purchase on Vitinha from Braga is a clear outlier as many clubs on the continent chose to keep their powder dry.
“Across Europe, many clubs have sold some of their most valuable talent to other leagues, particularly the Premier League, as they look to prioritise financial sustainability and likely have targeted the development of players that will appeal to the English market,” said Calum Ross, assistant director in the Sports Business Group at Deloitte.
“The rest of the ‘big five’ leagues in Europe have had more subdued spending power, likely impacted by negative growth in their broadcast rights in the most recent cycle, while at the same time, some European clubs are still recovering post-pandemic.
“In the future, the ability of such clubs to invest large sums in on-field talent will continue to be driven by funds generated across commercial, matchday and broadcast revenues, in addition to receipts from the sale of players.”
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