• Sat. Oct 1st, 2022

CONFIRMED: Chelsea, Man City, others spend so far £1.5bn to purchase players this summer transfer

Financial experts as review so far the cost at which premier League club purchase key players on this summer transfer window opening. Especially Chelsea who has made a very huge amount in obtaining world-class player into their squad.

Other EPL rival clubs who have been invested heavily on players to join the club are Manchester City, Arsenal, with a rough eestimate spend so far, costed £1.5bn on this Summer Transfer.

According to sports finance experts at Deloitte, a big four accounting firm, Chelsea, Arsenal, Man City, and 17 other clubs in the Premier League spent the money which is tantamount to $1.7 billion.

However, understands that the £1.5 billion represents an increase of 4.89% from the £1.43 billion recorded in the close-season window of the English football league.

The £1.5 billion figure as well represents an increase of 4.16% when compared to the £1.44 billion they spent in the whole of last season.

In his reaction to this, the Assistant Director in Deloitte’s Sports Business Group, stated that the money spent so far on this season’s summer transfers indicates that Premier League clubs are finally recovering from COVID-19, the pandemic that disrupted their businesses since 2019.

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“It proves that the business models of Premier League clubs are rebounding post-COVID,” he explained.

Whilst this is encouraging, the importance of clubs establishing responsible and sustainable spending policies cannot be overstated.

“Clubs must balance their desire to be competitive on-pitch with the need to protect long-term financial and operational viability.”

How Chelsea, and others are spending
While the league’s transfers window is scheduled to close on Thursday, September 1, 2022, quite a number of record signings have so far been made, some of which are highlighted below:

Players

Raphinha, Marc Cucurella, Raheem Sterling, Gabriel Jesus, Morgan Gibbs-White, Casemiro

Fees

€65m, €65m, €56m, €52m, €50m, £70m

Clubs

Leeds to Barcelona, Brighton to Chelsea, Man City to Chelsea, Man City to Chelsea, Wolves to Nottingham Forest, Real Madrid to Manchester United

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