English Premier League clubs have broken the record for spending during the January transfer window, spending £440 million ($542 million), according to experts from financial auditing firm Deloitte (Football Money League). This total expenditure surpasses the previous highest of £430 million in January 2018.
**Chelsea Leads the Spending**
With generous funding from new owners, Chelsea topped the spending list, setting a record in the winter transfer market. The "Blues" spent around £180 million, following the acquisition of Ukrainian winger Mykhailo Mudryk from Shakhtar Donetsk for £88.5 million. Chelsea also signed Ivorian David Fofana from Norwegian club Molde, French player Benoit Badiashile from Monaco, Brazilian Andrey Santos from Vasco da Gama, and Noni Madueke from Dutch club PSV Eindhoven.
Dutch forward Cody Gakpo joined Liverpool from PSV Eindhoven for £44 million in one of the largest winter contracts. There is still one week left before the current window closes, leaving room to further increase the new record.
Deloitte reported that total spending by English clubs in the previous year’s window reached £105 million one week before the transfer market closed that time at £295 million.
Calum Ross, assistant director at Deloitte, explained, "January 2023 has surpassed the previous record for spending during any winter window as English clubs look to strengthen their teams ahead of the crucial second half of the season." He added, "The 2022-23 season has seen clubs invest heavily in their squads, and so far, teams have spent over £2.4 billion on player transfers this season."
He mentioned, "This level of spending demonstrates the recovery of English clubs after the pandemic, but the importance of long-term financial planning and focus on financial sustainability should remain a priority." Deloitte noted that total spending by Premier League clubs for the 2022-23 season has now reached £2.4 billion, with the new winter record following another record set last summer at £1.9 billion.
