Premier League spending falls by £715m in underwhelming January transfer window

02 February 2024 , 11:18

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Radu Dragusin, a £25m signing, was the most expensive move of the January transfer window. (Image: Alex Morton/Tottenham Hotspur F.C./REX/Shutterstock)

Premier League clubs spent just £100m in the January transfer window as total expenditure fell by more than 700 percent compared to 12 months previous.

And the slump in activity has been put down to a combination of factors headlined by fears around profit and sustainability regulations after Everton were handed a ten-point deduction and Nottingham Forest have also been charged.

But experts say that there are other reasons, including a plateauing in broadcast revenue and a correction following last summer’s heavy investment. A host of managers have claimed it is increasingly difficult to do business in the winter window, instead preferring to do their business during the summer as it affords players an opportunity to settle into new environments.

Last season the 20 top flight sides spent £815m, spearheaded by Chelsea ’s unprecedented splurge on seven players including Enzo Fernandez and Mykhailo Mudryk.

But loan moves were on the menu for many this January, while the biggest fee paid was the modest £25m Tottenham paid Genoa to land Radu Dragusin.

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Tim Bridge, lead partner in Deloitte’s Sports Business Group, said: “After record-breaking spending in the last three transfer windows, Premier League clubs’ spending this January has been subdued.

“The more prudent approach is likely driven by the high level of spend invested during the summer window, but may also have been influenced by a heightened awareness of the Premier League’s financial regulations and the potential repercussions of non-compliance.

“Securing the highest-quality player talent remains pivotal for Premier League clubs, but we’ve seen in this window that retention has been of higher priority than attraction.”

Arsenal, Chelsea, Everton, Liverpool and Manchester United did not make a single addition, while Manchester City ’s £12.5m signing Claudio Echeverri was loaned straight back to River Plate.

The biggest moves on a quiet deadline day were Morgan Rogers’ switch from Middlesbrough to Aston Villa, worth an initial £8m but potentially rising to £15m, and Adam Wharton's transfer from Blackburn Rovers to Crystal Palace costing an initial £18.5m potentially rising to £22m.

However there was drama involving West Ham as the departures of Said Benrahma and Pablo Fornals to Lyon and Real Betis were not confirmed in time. Both clubs have accused West Ham of admin and computer errors with appeals set to be lodged with FIFA.

Alan Smith