It could very well be the transfer window that shatters the record £3bn spending that involved Premier League clubs last summer.
That’s because while the deals may not be coming together quickly yet, the spending is significant. Transfer activity between Premier League clubs should accelerate after the World Cup, but this is always likely to preclude more substantial signings for big stars. Still, three nine-figure deals have already been completed.
The first domino to fall was Elliot Anderson. In a courtship between both Manchester clubs, it was Manchester City who agreed to release £116 million to make the 23-year-old midfielder the most expensive player in English football history.
As it turns out, Anderson didn’t hold that title for long. Chelsea then agreed to pay Morgan Rodgers £117m, with his move to Stamford Bridge confirmed on Monday. In between these deals, Tottenham signed a £100m package to lure Sandro Tonali to London.
Since Jack Grealish became the first £100m transfer in Premier League history in 2021, seven other players have joined the club.
However, never before have there been three deals worth more than £100m in a single transfer window. And more is likely to happen before the September 1 deadline.
Other companies have refrained from parting with such astronomical sums in the past, but Anderson and Rodgers’ contracts in particular would distort the market. When transfer fees reach a new level, clubs will use them as a new benchmark in the market.
That’s something Arsenal have already discovered this summer. It is understood that they would likely have spent £80m to sign Rodgers, a figure that could have meant a deal was struck before the World Cup. However, Anderson’s blockbuster move to Manchester City meant Aston Villa increased their evaluation of the attacking midfielder over the summer.
Indeed, two more of Arsenal’s priority transfer targets this summer, Bradley Barcora and Julian Alvarez, are worth more than £100m, making future deals for them difficult unless the Gunners are willing to break through their record spending.
Manchester City have agreed to pay £116m to bring Elliott Anderson to the Etihad
Arsenal are known to be fiercely protective of their target ratings, which is why they didn’t want to match Chelsea in signing Rodgers. Even if they shift their focus to alternative targets, it is unlikely to come cheap considering the level of players who will enter the market after winning the Premier League. If they really want to level up their attack, it feels almost inevitable that they will have to break the £100m barrier again after previously signing Declan Rice.
Liverpool are also fans of Barcola and need to sign a successor to Mohamed Salah, whose legendary career at Anfield ended at the end of the 2025-26 season. They are shaping up to be a nine-figure splurge, having spent £116m to bring Florian Wirtz to Anfield last summer and a further £125m to sign Alexander Isak. Both deals resulted in UK record transfer fees, with Isak surpassing Wirtz a few weeks later.
Once again, the size of Liverpool’s target means they are likely to shop in the nine-figure price range this year. Yann Diomande was a hotly wanted player at the start of the summer, valued at £110.4m by RB Leipzig, but now a move to Paris Saint-Germain seems increasingly likely.
Despite being a powerhouse in the Premier League, Manchester United have not been dragged into paying players nine-figure salaries. Furthermore, they will feel they have found value in a significantly inflated market after sealing deals for Andrej Santos and Youri Tielemans for £50m and £35m respectively.
Arsenal and Liverpool would likely have to pay more than £100m to sign Bradley Barcola (Image: Getty Images)
The Red Devils are still in the market for another midfielder and reinforcements in other areas, and it feels unlikely that they will break the £100m barrier, but market conditions will also have an impact on them.
After the successful transfers of Brian Mbeumo and Matheus Cunha last season, United continue to target established players in the Premier League, but even contracts for players outside of the elite are rising in price. The transfer fee for Bournemouth’s Alex Scott, a player admired by both United and Arsenal, will likely exceed £80 million. If a deal is finalized at this level, the 22-year-old would become United’s third-biggest transfer fee.
The Premier League premium is already being seen in other deals. Matheus Fernandes, for example, was another serious target for Manchester United and was sold to Tottenham from relegated West Ham for a staggering £85m, a price United were unwilling to meet.
Market trends have placed United and other Premier League clubs in a difficult position when it comes to their mandate to strengthen their respective squads during the remainder of the summer transfer window.
The market only seems to be moving in one direction as transfer fees continue to rise at an abnormal rate. And unless they get very creative, the majority of clubs will have to follow suit.
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