Premier League breaks record as summer spending reaches 2.36 billion pounds

Premier League clubs received £550m in transfer fees from overseas clubs, more than double the previous record of £210m in the summer of 2022.

Another record-breaking transfer window closed on Friday after a busy summer that saw Premier League clubs splash out £2.36bn on new players

The combined outlay of the 20 clubs during the window smashes the previous spending record of 1.92 billion pounds set last summer by 440 million pounds, according to financial services firm Deloitte.

Premier League clubs spent £255m on deadline day alone, which is more than double the £120m spent on deadline day during last summer's window.

That already makes the 2023-24 season have the second-highest transfer spend ever after last season's record £2.73bn, with the January window still to come.

Among the other records Premier League transfers accounted for 48% of total spending across the 'big five' European leagues - La Liga, Serie A, Bundesliga and Ligue 1; Premier League clubs received £550m in transfer fees from overseas clubs, more than double the previous record of £210m in the summer of 2022; With the exception of Spain's La Liga, gross transfer spend increased in all of Europe's 'big five' leagues;

Only two of Europe's 'big five' leagues spent more on transfers than they received - the Premier League and Ligue 1;

And there were 13 Premier League transfers valued at over £50m, which is more than the previous two summer transfer windows combined.

The biggest Premier League deal of deadline day saw Manchester City sign Portugal midfielder Matheus Nunes from Wolves for £55m. The Premier League champions also sold Cole Palmer to Chelsea for £40m.

"Nearly three quarters of Premier League clubs (14) spent more this summer than the last, reflecting the increased intensity of competition.

"There continues to be pressure on clubs to acquire top talent to satisfy their on-pitch objectives, whether that's qualifying for European competition or simply maintaining their position in the Premier League."

There were two transfers that hit the £100m mark this summer, with Chelsea signing midfielder Moises Calcedo from Brighton for a £100m fee that could rise to a British club record of £115m, while Arsenal signed England midfielder Ddeclan Rice from West Ham for £100m plus £5m in add-ons.

Along with deadline day capture Nunes, Manchester City have bought defender Losco Gvardiol for £77m from RB Leipzig, winger Jeremy Doku from Rennes for £55.4m and midfielder Mateo Kovacic, who arrived for £25m from Chelsea.

Rivals Manchester United signed Denmark striker Rasmus Hojlund for £72m, while fellow Champions League side Newcastle United brought in Italy midfielder Sandro Tonali for £55m and Leicester forward Barnes for £38m.

Last year's Premier League runners-up Arsenal added to the Rice deal by buying Kai Havertz for £65m and Ajax defender Lurrien for £34m.

Two of the biggest transfers in Europe this summer involved England players.

Three Lions captain Hary Kane joined Bayern Munich from Tottenham for £86.4m, while midfielder Jude Bellingham moved to Real Madrid from Borussia Dortmund for £88.5m.

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