Years of decadent spending seem to have left significant holes in the pockets of Premier League clubs during the 2024 January transfer window.
While football’s marketplace has often resembled chaotic scenes from the New York Stock Exchange in the past, more tumbleweeds than brokers have blown by this month. Few clubs have done significant business, leaving fans desperately short of the captivating drama that usually takes place in the football world at this time of year.
So why has no one thrown £300m at Paris Saint-Germain for Kylian Mbappe? As it turns out, there’s a little more for clubs to consider than just instantly reaching for their pockets.
The 2023 January transfer window ended up being a record-breaking one. £815m was spent by Premier League clubs, though around a third of that was forked out solely by Chelsea. The Blues parted with almost £300m as stars like Enzo Fernandez, Mykhailo Mudryk, Benoit Badiashile and Noni Madueke all commanded significant fees.
Mauricio Pochettino hasn’t welcomed any new first-teamers to Stamford Bridge this month, and no Premier League side has come close to matching the £107m Chelsea paid Benfica for Fernandez. The priciest deal so far remains the £25m Genoa extracted from Tottenham for defender Radu Dragusin, with around £50m being spent before Deadline Day in 2024.
But while some clubs are more comfortable parting with cash, others have had to walk the tightrope of the Premier League’s Profitability and Sustainability Rules (PSR).
Everton were handed a ten-point sanction earlier this season after their losses up to 2021/22 were found to have amounted to £124.5m, over the £105m threshold English top-flight clubs must abide by over three years. The Toffees have since been charged again alongside Nottingham Forest, with both clubs facing the prospect of point penalties while scrapping at the bottom of the Premier League table.
Clubs around Everton and Forest look to be showing more restraint in their transfer dealings. Wolves completely scrapped their plans last summer in order to stay within the limitations and currently sit in mid-table, exceeding previous expectations under Gary O’Neil.
|
Year |
Total January spend from Premier League clubs |
|---|---|
|
2022/23 |
£815m |
|
2021/22 |
£323m |
|
2020/21 |
£84m |
|
2019/20 |
£233m |
|
2018/19 |
£146m |
|
2017/18 |
£465m |
|
2016/17 |
£221m |
Some of the division’s heavyweights have refrained from entering the winter market this year.
Newcastle recently posted…
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