Forget Arsenal and Chelsea, it's Newcastle United who begin season with biggest net spend in the Premier League

Joe Hall
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Georginio Wijnaldum is one of Newcastle United's costly summer signings (Source: Getty)

Forget Manchester City's record-breaking signing of Raheem Sterling, disregard Liverpool's big-bucks Benteke buy. It's Newcastle United who have built up the largest transfer ahead of the new Premier League season.

Read more: £13m Aleksandar Mitrovic deal takes Newcastle summer transfer spend to highest level of Mike Ashley era

Newcastle have a net spend (transfer expenditure minus transfer earnings) of £33.3m - almost £10m more than any other club.

Much-maligned owner Mike Ashley has allowed £36m to be released from the club's (very large) accounts and spent on four new players: Georginio Wijnaldum (£14m), Aleksandar Mitrovic (£13m), Chancel Mbemba (£8.4m) and Ivan Tomey (£479,000).

Although four other Premier League clubs have spent more on new players this summer, Newcastle have only been able to recoup a measly £2.6m from Davide Santon's return to Inter Milan.

New head coach Steve McClaren may have ceded the majority of transfer responsibility to chief scout Graham Carr and managing director Lee Charnley, but the former England boss will be the beneficiary of Ashley's most expensive transfer window as Newcastle owner.

In fact, Wijnaldum and Mitrovic are the fourth and fifth most expensive signings in the club's entire history.

Read more: Premier League spends £200m more than European rivals

Premier League's biggest spenders (so far)

Newcastle have only been outspent by Liverpool, Manchester United, Manchester City and - perhaps surprisingly - Aston Villa. Liverpool lead the way having splashed out £77m in a second consecutive summer of heavy spending from Brendan Rodgers.

And despite ongoing speculation surrounding their future ownership, Aston Villa have put together their biggest transfer outlay since the 2008/09 season with £38.4m unleashed on new players.

Premier League's biggest earners (so far)

Yet unlike Newcastle, all those above have also seen significant money come into the club as it has gone out. United's break-up with Angel Di Maria has contributed to £55.4m in earnings while Liverpool's £32.5m purchase of Benteke (triggered by the sale of Sterling to Man City) freed up funds for Villa to embark on their own shopping trip.

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