The Transfer DealSheet: Reviewing Man Utd, Arsenal, Liverpool, Madrid windows plus January priorities - The Athletic

The Athletic's final Transfer DealSheet for the summer 2025 window provides a comprehensive analysis of the closed transfer period, which ended on September 1, with insights from reporters like David Ornstein and Chris Weatherspoon, based on verified sourcing from multiple briefed individuals.

Liverpool were the biggest spenders, setting a world record with over £400 million spent, including the late signing of Alexander Isak from Newcastle, surpassing Chelsea's previous record of £398 million from 2023.

Arsenal had the highest net spending, investing over £250 million in new players but struggling with sales, as evidenced by Alex Oxlade-Chamberlain's sale eight years ago remaining their highest ever, indicating poor selling ability.

Chelsea generated £294 million in sales, the second-highest ever in a single season, with potential to exceed Monaco's £325 million record after the winter window; Bournemouth and six other clubs also topped £100 million in sales, as clubs increasingly use player sales to offset rising costs.

Overall, Premier League clubs spent over £3 billion, a record amount, and recouped £1.8 billion in sales, also a record, reflecting a market trend where high spending is balanced by significant income from transfers.

Newly promoted clubs, including Sunderland, Leeds United, and Burnley, collectively spent over £360 million on new players, setting a record for promoted sides and exceeding previous years' spending by £80 million compared to 2024 and £200 million compared to two years ago.