With £2.37bn splurged on transfers, Premier League clubs break spending record
Swiss star Noah Okafor's £18m transfer from AC Milan to Leeds United on Thursday took the total spending of Premier League clubs to £2.37bn in the ongoing summer transfer.
New Delhi: Premier League clubs set a new benchmark in transfer deals, spending a whopping £2.37bn in the ongoing summer transfer window to break the all-time record set two years ago.
Noah Okafor's £18m transfer from AC Milan to Leeds United on Thursday took the total spending amount to £2.37bn, £1bn more than the previous record in a single transfer window, set in the summer of 2023. With still 10 days to go before the transfer window closes, plenty more records are likely to be broken.
The 25-year-old Switzerland striker has left the Serie A side to sign for the Premier League club on a four-year deal. He becomes Leeds' ninth summer signing as the club continues their spending spree on their return to the top flight after conquering the Championship last season.
Leeds have secured the signing of the Swiss star, who played for Basel and RB Salzburg before joining Milan in 2023. He leaves the Italian giants with a modest return of seven goals in 54 games and joins the Premier League side after spending last season on loan at Serie A rivals Napoli.
The 2024-25 summer transfer window has witnessed an unprecedented rise in spending from clubs, who have traditionally not always been big spenders.
Premier League clubs on a massive spending spree
As many as six Premier League clubs have broken their club transfer records in this window, which has been a key factor in the record level of spending.
Clubs like Brentford, Burnley, Sunderland and Nottingham Forest have all spent big money to strengthen their respective squads. Meanwhile, Liverpool has spent the most, splurging over £250m. Arsenal, Chelsea, Man United and Man City have also made big-money signings to reinforce their squads.
Bundesliga has been the biggest benefactor of Premier League clubs' spending spree.
The three top signings in EPL this summer in terms of fees paid have been for players from German top-flight clubs - Florian Wirtz (Bayer Leverkusen to Liverpool) - £100m - £116m with add ons; Hugo Ekitike (Eintracht Frankfurt to Liverpool) - £69m - £79m with add-ons; Benjamin Sesko (RB Leipzig to Manchester United) - £66.3m - £73.7m with add-ons.
Outside the Premier League, Serie A is the top-spending league with £783m - but that is still less than the net spend of the Premier League, never mind the total spend.