Premier League football clubs are flexing their financial muscle by smashing spending records in the current transfer window, according to Deloitte.
The £1.5bn spent by English top-flight teams is already more than in any previous window, with a week still to go until the 1 September transfer deadline.
Clubs are also on track to make more signings than ever before and double the number of deals worth £30m or more, analysis by the business advisory firm shows.
“This summer’s transfer spend has already surpassed the previous record, set in the summer 2017 window, and is far higher than last summer’s total transfer spend of £1.1bn,” said Chris Wood of Deloitte’s Sport Business Group.
“The record levels of spending that we’ve seen in this summer transfer window so far provides a sign that the business models of Premier League clubs are rebounding post-Covid.
“Whilst this is encouraging, the importance of clubs establishing responsible and sustainable spending policies cannot be overstated. Clubs must balance their desire to be competitive on-pitch with the need to protect long-term financial and operational viability.
“With a week to go until the window closes we’ll see spending continue to rise, as clubs focus on finalising their squads for the season ahead and securing their place in the Premier League.”
The record sums are the latest sign of English clubs’ increasing financial advantage over all but the biggest teams in Europe.
The previous record spend by Premier League teams in a summer transfer window came in 2017, when they collectively lavished £1.4bn on new players.
That has already been eclipsed and is likely to keep rising, with Manchester United, Chelsea and Newcastle among the clubs expected to invest heavily in the coming days.
The volume of deals has reached 135, meaning it is projected to overtake last summer’s record 148 before the transfer window closes.
There has been a marked increase in bigger deals, however, with the number of signings costing £30m or more already at 14 compared to eight last year.
Liverpool’s £67m signing of Darwin Nunez and Manchester United’s purchase of midfielder Casemiro for a fee that could reach £70m are the most expensive of the transfer window so far.
They could yet be surpassed by potential deals involving United and Ajax winger Antony and Chelsea and Leicester defender Wesley Fofana.