A flurry of big-money moves before the transfer deadline took Premier League spending to the second-highest ever for a winter window.
The likes of Luis Diaz, Bruno Guimaraes and Rodrigo Bentancur moving in the last few days of January left the league’s gross spending at £295million according to estimates from finance company Deloitte.
The figure is over four times higher than the January 2021 window when Covid-19 was looming over the books of clubs across the world. Last year, £70m was spent in total and just £10m on deadline day.
Newcastle drove the January spending by signing the likes of Bruno Guimaraes for £33m
Aston Villa also splashed the cash, signing left-back Lucas Digne for £25m from Everton
Liverpool got Luis Diaz for an initial £37.5m and Rodrigo Bentancur joined Tottenham for £19m
It is only the fifth time the £200m mark has been breached, with January 2018’s £430m figure out on its own but this season’s figure is in line with the ‘best of the rest’.
The window two years ago accounted for £230m of spending, pipping 2011’s then-record £225m total, while £215m was spent in January 2017.
Dan Jones, head of Deloitte’s sports business group, said: ‘This transfer window indicates that the financial pressures of Covid on Premier League clubs are easing, with spending firmly back to pre-pandemic levels and remarkably among the highest we’ve ever seen in January.
‘The Premier League continues to lead the way globally, retaining its status as the world’s biggest domestic football league in financial terms, once again supported by full stadia and securing strong overseas broadcast deals.
‘Other large European leagues are also edging back to higher spending, but it is Premier League clubs that have notched up the largest total spend in this transfer window, spending almost £150m more than Serie A clubs, the closest competitor.’
The initial £37.5m fee Liverpool paid for Diaz is the highest of the window, narrowly ahead of Guimares’ £35m arrival at Newcastle who also paid £25m for ex-Burnley striker Chris Wood.
Newcastle were the big spenders in the January window, with their mega-money Saudi takeover combined with the threat of relegation prompting Eddie Howe to get busy in the transfer market.
As well as the permanent signings of Wood and Guimares, Howe also recruited defender Dan Burn for £13m from Brighton and Kieran Trippier for £12m from Atletico Madrid.
Villa defender Matt Targett also arrived on loan. Villa will receive a bonus fee from Newcastle if they stay up.
Among other January signings, Newcastle bought Dan Burn from Brighton for £13m
Burnley bought Wout Weghorst for £12m as the bottom sides splashed the cash in January
The bottom five clubs were the biggest spenders of the window and Newcastle were the biggest drives of that.
But Burnley spent £12m on Wout Weghorst to replace Wood on deadline day while Everton moved for Dele Alli on a deal that is initially a free transfer but clauses could take it up to £10m.
Midlands club VIlla were another active side in the transfer window, throwing their backing behind Steven Gerrard after his promising start to life as manager.
Left-back Lucas Digne headed to Villa Park for £25m from Everton. Villa also landed one of the signings of the window in Philippe Coutinho from Barcelona – for now, that deal is a loan but Villa have the option to turn it permanent with a £33m fee at the end of the season.
Villa were also linked with signing midfielder Rodrigo Bentancur from Juventus but the Uruguay international instead sealed a £19m move to Tottenham on deadline day – the highest figure of the day.
Villa got Philippe Coutinho on loan but could pay £33m in the summer to make it permanent
The Premier League resumes on Saturday, February 5 when Burnley play Watford in a crunch clash at the bottom of the table before a full round of fixtures begins.
The fate of teams such as Newcastle and Everton, for example, will be tied to their January business, while Tottenham’s top four hopes could be defined by their action and inaction on certain deals.
But one thing January shows is certain – after a difficult and uncertain 18 months due to the pandemic, the Premier League is resurfacing as the major player in the European transfer market once again.
