Premier League clubs spent a record £2.36 billion ($2.97 billion) on new players during the transfer window that ended on Friday.
The summer window, which ran from June 14 to September 1, surpassed last year’s record of £1.92 billion, with top-flight clubs spending £255 million on deadline day alone, according to the report.
Premier League teams accounted for 48% of all spending in Europe’s top five leagues, including La Liga, Serie A, the Bundesliga, and Ligue 1.
“A second successive summer of record spending by the Premier_League_clubs suggests that year-on-year revenue growth could return following the pandemic,” Tim Bridge, lead partner in Deloitte’s Sports Business Group, said in a statement.
“Nearly three-quarters of Premier League clubs  spent more this summer than the previous, reflecting increased competition intensity.”
Premier League clubs spent a record £2.36 billion
Chelsea has spent more over $1 billion in transfer fees since the club’s new management, backed by American Todd Boehly and Clearlake Capital, took over in May 2022.
For the second time in a year, the London-based club shattered the British transfer record by signing Ecuador midfielder Moisés Caicedo for a reported £115 million, surpassing the £106 million they paid for midfielder Enzo Fernández in January.
Champions Manchester City signed midfielder Matheus Nunes for £53 million this week, after previously signing Jérémy Doku for £55 million, defender Joko Gvardiol for £77 million, and midfielder Mateo Kovai for £25 million.
The runners-up from the previous season Arsenal spent £65 million on forward Kai Havertz, £105 million for England midfielder Declan Rice, while Manchester United spent £72 million on striker Rasmus Hjlund.
Newcastle United, who finished fourth last season, spent £55 million for midfielder Sandro Tonali and £38 million on winger Harvey Barnes.
Nottingham Forest, which finished 16th last season, signed up to seven players on the final day of the season.
According to the report, the Saudi Pro League club, which has the fourth-highest transfer spend of any league in the world, contributed nearly half of the transfer money collected by Premier League clubs from outside.
“The emergence of more active participants in the global transfer market has the potential to accelerate clubs’ efforts to establish financially sustainable business models,” according to Calum Ross, an assistant director in Deloitte’s Sports Business Group.