Premier League clubs set a new spending record in January with a week to go

Premier League clubs have already smashed the previous spending record for the January transfer window with a week to go, according to Deloitte.

The financial services firm said that as of At 3pm on Tuesday, the top-flight sites’ gross spend was £440m, surpassing the previous high of £430m set in January 2018.

Chelsea alone have spent close to £200m this month, with Ukrainian striker Mykhailo Mudryk joining from Shakhtar Donetsk in a deal reportedly worth up to £88.5m.

The Blues have also brought in David Fofana from Norwegian Molde, Benoit Badiashile from Monaco, Andrey Santos from Brazilian club Vasco da Gama and Noni Madueke from PSV Eindhoven.

PSV also sold Holland World Cup star Cody Gakpo to Liverpool at the start of the window in another of the big deals involving English clubs.

Deloitte says the gross spend by Premier League clubs for the 2022-23 season is therefore £2.4 billion, with the new winter record following the record spending of £1.9 billion last summer.

In the January 2022 window, Deloitte said Premier League clubs’ gross spending was £105m with a week to go and ended at £295m.

Calum Ross, assistant director of Deloitte’s Sports Business Group, said: “January 2023 has already surpassed the record used in any previous winter window as Premier League clubs look to strengthen their squads ahead of a crucial second half of the season.

“The 2022-23 season has seen clubs invest heavily in their squads and to date Premier League clubs have spent more than £2.4 billion on player transfers. New ownership and availability of financial resources to pay significant sums to maximize performance remain key contributors to record consumption levels.

“While this level of spending illustrates Premier League clubs’ post-pandemic recovery, the importance of long-term financial planning and a focus on financial sustainability should remain a priority.”

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