January Transfer: Premier League Clubs Spend $1 Billion

Premier League football clubs spent a record £815 million in the January transfer window, global financial group, Deloitte's Sports Business Group said.

The biggest spenders were Chelsea, responsible for 37 per cent of the total - equivalent to more than the combined spend by all clubs in the Bundesliga, LaLiga, Serie A and Ligue 1, it said.

Chelsea paid a British record £106.8 million for 2-year-old midfielder Enzo Fernandez from Benfica on Tuesday's transfer deadline day.

The Premier league clubs' expenditure was almost three times higher than in January 2022. Over the whole of the 2022-23 season they have spent £2.8 billion on player transfers, beating the previous record of £1.9 billion set in 2017-18.

Relegation-threatened Bournemouth were the second largest spenders within the Premier League.

Tim Bridge, lead partner in Deloitte's Sports Business Groupsaid: "Premier League clubs have outspent those within the rest of Europe's 'big five' leagues by almost four to one in this transfer window... However, while there is a clear need to invest in squad size and quality to retain a competitive edge, there will always be a fine balance to strike between prioritising success on-pitch and maintaining financial sustainability."