Premier League clubs significantly increased their spending in the winter transfer window, with total expenditures reaching £370m compared to last year's £100m. Manchester City dominated the market, accounting for nearly half of all spending with approximately £180m in transfers - the second-highest winter window spend ever, trailing only Chelsea's £275m outlay in 2023.
Manchester City's unprecedented winter spending spree comes amid a challenging season for the defending champions. After losing six out of eight Premier League games during November and December, the club made aggressive moves to strengthen their squad. Their major acquisitions included Omar Marmoush from Eintracht Frankfurt for £59m, Vitor Reis from Palmeiras for £29.6m, Abdukodir Khusanov from Lens for £33.6m, and a deadline day signing of Nico Gonzalez from Porto for £50m. They also secured Argentina Under-17 midfielder Claudio Echeverri for £12.5m, who was immediately loaned back to River Plate.
Football finance expert Kieran Maguire provided insight into City's financial position, telling BBC Radio 5 Live, "From a financial perspective, City are in a really strong position. Under these profitability and sustainability rules, you are allowed to lose £105m over a rolling three-year period. Manchester City have probably made somewhere in the region of £160-170m worth of profit." However, Maguire noted that the 115 charges facing City for alleged financial rule breaches relate to the period 2009-2018, suggesting potential future implications for spending.
The deadline day itself was relatively quiet until the final hours, with Brighton making the only early moves. The day's most dramatic saga involved Chelsea defender Axel Disasi, who ultimately joined Aston Villa on loan after a complex negotiation involving both Villa and Tottenham. Villa also secured Spain midfielder Marco Asensio on loan from Paris St-Germain.
Manchester United's window was notably subdued, with only two arrivals: Patrick Dorgu from Lecce for £25m and young defender Ayden Heaven from Arsenal. The club focused on reducing expenditure, with high-profile players Antony and Marcus Rashford departing on loan to Real Betis and Aston Villa respectively.
A striking trend emerged in this window's transfers, with the average age of fee-paying signings being just 20.5 years. This youth movement was evident across multiple clubs, including Bournemouth's acquisition of teenagers Julio Soler and Matai Akinmboni, and Brighton's young signings Stefanos Tzimas, Diego Gomez, and Eiran Cashin.
Inter-Premier League transfers were minimal, with only a handful of moves including Ben Chilwell's loan to Crystal Palace and Evan Ferguson's move to West Ham. Paul MacDonald from FootballTransfers.com explained this trend: "It's a case of Premier League teams now having a level of revenue - across the league - to know that they can command a huge fee from the teams near the top. There's no real need to sell or do business at a knockdown price unless profit and sustainability rules really demands it."
The window's total spending of £370m, while significantly higher than last year, remained well below the 2023 record of £815m, reflecting a more measured approach to winter transfers across most Premier League clubs, with Manchester City being the notable exception.
