Premier League transfer spending drops to lows last seen in depths of pandemic

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Spending on new players by English Premier League clubs has dropped sharply as increased enforcement of financial rules sent a chill through the market during the winter transfer window.

The total outlay in the past month across European football’s big five leagues reached €572mn, according to figures from Deloitte, compared with €1.2bn a year ago. Spending by English Premier League clubs plummeted from £715mn a year ago to £100mn last month.

The Premier League is by some distance football’s richest domestic competition, and one of the UK’s highest-profile global exports. Transfer spending by English clubs typically makes up the bulk of the market.

But in January, player purchases by Premier League teams accounted for just 20 per cent of all spending that month across Europe’s big five, said Deloitte, down from 79 per cent a year ago. Barring January 2021, when spending was depressed by the pandemic, the recent window was the quietest for top-tier English clubs since 2012.

Analysts and agents said the recent regulatory action by the Premier League has caused clubs to pay far closer attention to their financial position and cut back on transfer spending.

The Premier League has recently charged two clubs, Everton and Nottingham Forest, with breaking financial regulations, and last year levelled more than 100 charges of rule-breaking against champions Manchester City.

Everton has already been docked 10 points and is awaiting judgment on a second infringement.

“The Everton sanction opened a few eyes,” said Marlon Fleischmann, an agent at Unique Sports Group. “It was a turning point, there’s no getting away from that.

“Those days of the manager saying, ‘I want a striker, get me a…