Premier League clubs experienced one of the quietest transfer windows in recent memory, with a total spending of just £100 million ($127 million), as estimated by leading finance company Deloitte. This marked a significant decrease from £815 million spent in the previous January and an average of over £319 million since the 2016-17 season. Factors such as a plateauing of broadcast revenues and the potential threat of sanctions under the league’s profit and sustainability rules, with Everton already penalized 10 points this season, are cited as reasons for the subdued activity.

Tim Bridge, the lead partner in Deloitte’s Sports Business Group, noted that the more cautious approach may be influenced by the substantial spending in the summer window and an increased awareness of the league’s financial regulations.

Spending was around £70 million leading into deadline day, comparable to the Covid-affected January 2021 window. Thursday’s deals, including Morgan Rogers’ move to Aston Villa, pushed the overall figure to £100 million. Notably, Radu Dragusin’s £26.7 million move to Tottenham on January 11 was the biggest deal of the month. Additionally, top clubs like Arsenal, Chelsea, Everton, Liverpool, and Manchester United made no new additions, while Manchester City’s signing Claudio Echeverri was immediately loaned back to River Plate.