Premier League clubs spent £295m gross in January, their second highest total ever for a winter transfer window, according to Deloitte.
The sum is more than four times higher than their outlay in January 2021 and was driven by newly rich Newcastle United and other teams at the wrong end of the table trying to escape relegation.
“This transfer window indicates that the financial pressures of Covid on Premier League clubs are easing, with spending firmly back to pre-pandemic
levels and remarkably among the highest we’ve ever seen in January,” said Deloitte’s Dan Jones.
“The Premier League continues to lead the way globally, retaining its status as the world’s biggest domestic football league in financial terms, once again supported by full stadia and securing strong overseas broadcast deals.”
The gross spend of £295m included £93m invested by Newcastle following their Saudi-led takeover last year.
That figure exceeded Premier League clubs’ pre-pandemic average January total of £246m for 2016-2020.
Their net spend last month of £180m, meanwhile, was the highest recorded since the winter transfer window was introduced in 2003.
Business also bounced back following a frugal 2021 in Europe’s other big leagues of Germany, Spain, Italy and France.
Their total gross spend reached €380m, a figure almost double their outlay 12 months ago but some way off January 2020’s €660m.
Jones, head of Deloitte’s Sports Business Group, added: “Other large European leagues are also edging back to higher spending, but it is Premier League clubs that have notched up the largest total spend in this transfer window, spending almost £150m more than Serie A clubs, the closest competitor.”
Newcastle United’s signings included England international Kieran Trippier, striker Chris Wood, Brazil midfielder Bruno Guimaraes and defender Dan Burn.