The summer 2024 transfer window closed on Friday, and one thing is evident in the Premier League. Spending -- as in net spending, which is the amount taken in when transferring players out, minus the amount shelled out to acquire new players -- is down. Way down. Like, Mariana Trench down.
According to Transfermarkt, Premier League clubs' net spend this summer was around £629.8 million ($827.7m). That's more than 40% down on the £1.070 billion ($1.406bn) of 2023. It's less than any season since 2019, excluding the COVID-impacted summer of 2021. And if you adjust for inflation, it's the lowest since the summer of 2014.