Premier League clubs are set to create a new record for the all-time high spending on player transfer and acquisitions. The clubs so far have spent more than $1.1 billion in this summer’s transfer window and are on course to break their record, data released by website Sporting Intelligence showed on Monday.
The transfer season closes on 31 August, which means still one month and a week to go. English clubs are living up to their reputation of being Europe’s biggest spenders. The total spend for the season is expected to surpass $1.52 billion the clubs have spent last season, which will by yet another record.
Manchester City have spent the most, $ 244.87 million on six acquisitions. Monaco’s Bernard Mendy was the latest acquisition on Monday. British media has reported it to be around $63.82 million. The club has earned received $44.55.
Champions Chelsea are the next biggest spenders on $169.85 million, followed by Manchester United on $137.8 million. Jose Mourinho’s club has revealed to make two more signings during this transfer window.
Meanwhile, Everton who have spent $121.65 million, have neutralized their expenses, mainly by selling Romelu Lukaku to Manchester United. Arsenal, whose manager Arsene Wenger has been under pressure to bring in new players after a disappointing season, have so far spent $68.64 million.
Three clubs, Tottenham Hotspur, Stoke City and Crystal Palace have yet to spend anything, with Spurs currently $96.78 million in credit on all deals. All three teams promoted to the Premier League have invested, with Huddersfield’s $47.41 million just topping Newcastle United’s $40.46 milllion, while Brighton and Hove Albion have spent just $17.32 million.
The club will receiving $10.81 billion in TV rights alone for the current three-year cycle. Such riches mean Premier League clubs are paying a premium in the market.
The new Premier League seasons on Aug. 11.