REVEALED: Chelsea, Man City, Others Spend £1.5bn On Summer Transfer

Premier League clubs, including Chelsea, Arsenal, and Man City, have so far spent £1.5 billion on their summer transfers.

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.

BizWatch Nigeria, 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 development, Chris Wood, 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.

“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: