The Premier League title has led to Manchester City’s surprisingly poor defence Pep Guardiola is making three big money signings – with more likely to come.
City have signed Frankfurt forward Omar Marmouse (£59m), Palmeiras defender Vitor Reis (£29.6m) and Lens centre-back Abdukodir Khusanov (£33.6m).
They have not previously made a significant January signing since Aymeric Laporte for £57m in 2018.
Paul McDonald of FootballTransfers.com said: “In January 2023, £815m was spent and that represented 28.4% of all transfer fees spent that season – the highest of any year in the last decade.
“But there were some mitigating factors. Chelsea alone accounted for £286m of this. We also witnessed a sense of desperation among teams threatened with relegation – Leeds, Southampton, Leicester, who would eventually go down – and Bournemouth spending more than £2000 to avoid the drop. Within 200 m.
“But 2024 saw a complete reset – £96m was spent, just 3.9% of total spending for the season, as teams were happy with their bulk and, crucially, acutely aware of emerging PSR restrictions and chose to retain any spending power. Summer window.”
Profits and sustainability rules have hampered clubs – Everton and Nottingham Forest were deducted points last season for breaking the Premier League’s spending rules.
Neither club violated the rules this year.
Macdonald added: “2025 is shaping up to be a more active window than last year, with Manchester City very active.
“But they have headroom after amassing a very strong PSR position courtesy of their quiet summer of business, and others such as Manchester United are perhaps not as lucky.
“Liverpool probably have PSR headroom as well, but their focus will likely be on renewals rather than acquisitions, as Trent Alexander-Arnold, Virgil van Dijk and Mohamed Salah are more than up for grabs.
“And Chelsea are still trying to find a balance by offloading some of the players they brought in – but again, they may see the summer window as a good place to consider surpluses if needed.”
