The current Premier League transfer window has already been unlike any before it. With the deadline set for September 1, clubs have been busy securing high-profile deals, and more big moves are expected in the coming weeks.
Arsenal are close to signing Sporting striker Victor Gyokeres for a staggering £63.5 million. Meanwhile, Newcastle’s star forward Alexander Isak, also from Sweden, has hinted that he might leave the club. If a move happens, Isak could fetch a transfer fee as high as £150 million. Liverpool, the reigning champions and biggest spenders so far this summer, remain interested.
Liverpool have already made headline-grabbing signings, bringing in German international Florian Wirtz for a potential British record fee of £116 million and French forward Hugo Ekitike for an initial £69 million, which could rise to £79 million. Alongside these, they’ve added Bournemouth’s Milos Kerkez for £40.8 million and Jeremie Frimpong from Bayer Leverkusen for nearly £35 million.
Data from Transfermarkt shows that Premier League clubs have collectively spent £1.63 billion since June. The “big six” consisting of Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, and Tottenham — have accounted for just over £1 billion of this total.
Liverpool lead the pack with £269 million spent this summer, a sharp increase compared to last season when their major signings totaled under £40 million. Chelsea are second with £212 million invested, including £60 million on Brighton’s Joao Pedro and £56 million on Jamie Gittens from Borussia Dortmund.
Arsenal, who have finished second for the last three seasons, are closing in on £200 million in spending, highlighted by the near completion of Gyokeres’ transfer and prior purchases like Martin Zubimendi for £60 million.
Manchester City moved early in the window, spending around £127 million on players like Tijjani Reijnders from AC Milan and Rayan Cherki from Lyon. Manchester United, recovering from a disappointing 15th-place finish last season, have spent £133.5 million mainly on forwards Bryan Mbeumo and Matheus Cunha.
Tottenham, despite a turbulent season that included a Europa League win but managerial change, have invested £122.5 million under new coach Thomas Frank. Their biggest deal was £55 million for midfielder Mohammed Kudus from West Ham.
Liverpool’s spending ranks sixth globally for a single transfer window. If they manage to sign Isak for £135 million or more, they could top the list. However, when factoring in football’s financial growth over the years, experts say Liverpool’s spending isn’t as extravagant as it might appear. According to finance analyst Kieran Maguire, even with Isak, Liverpool would be around 12th on the all-time list.
Fans have wondered how Liverpool can afford such costly signings. Maguire explains that Liverpool’s strong cash flow, new sponsorship deals, expanded stadium revenue, and participation in the Champions League all help boost their financial muscle. Additionally, player sales and salary savings contribute to maintaining healthy finances under the Premier League’s profit and sustainability rules.
Outside the traditional big clubs, promoted teams like Burnley, Leeds United, and Sunderland are also making waves with heavy spending. Sunderland, for example, have spent just over £100 million on six new players.
On the other hand, some clubs such as Fulham and Crystal Palace have been more conservative, with Fulham yet to spend and Palace’s only signing being Ajax’s Borna Sosa for £2 million.
Looking ahead, the massive disparity in spending raises questions about the league’s competitiveness. While the big clubs dominate the market, some mid-table teams impressed last season, with Forest, Bournemouth, and others challenging for European spots.
Ex-Premier League striker Dion Dublin praised the rise of clubs like Forest and Brighton earlier this year, saying they’ve done an outstanding job despite not having the biggest names or budgets.
However, the gap still remains as the wealthiest teams continue to invest heavily, and the transfer window’s spending spree highlights the Premier League’s ongoing battle between established giants and ambitious challengers.
