UEFA warns of two-speed market as Premier League spends €4.6bn
England's top clubs are now buying in a different market to everyone else.
That is the warning from UEFA. European football's governing body says a "clear two-speed system" is emerging after another huge summer of spending by Premier League clubs.
In its European club talent and competition landscape report, UEFA estimated Premier League clubs spent €4.6bn (£4bn) on transfers this summer, according to BBC Sport. That total was larger than the spending of the next eight biggest European countries combined.
English clubs were involved in more than 60% of transfer deals across Europe. They paid an average of around €24m per incoming player. In the other major European leagues, the average was around €4m to €5m.
Much of the money stayed in England. Deals between English clubs rose 44% to €1.55bn. UEFA said that domestic market alone was worth as much in fees as the next five league-to-league routes combined.
The next biggest route was from Germany's Bundesliga to the Premier League. That flow was worth €690m.
The top end of the market is stretching fast. The number of European transfers costing more than €50m rose from 14 in summer 2024 to 23 in 2025 and to 35 in 2026. Premier League clubs were responsible for 29 of those 35 deals this year.
Spending is also taking up a bigger slice of income. The 20 Premier League clubs spent the equivalent of 56% of their annual revenue on transfers. The average in the decade before Covid was 33%. UEFA executive director of finance Andrea Traverso said the trend "raises concerns".
Clubs are leaning harder on homegrown talent to balance the books. UEFA estimated European clubs made €6.8bn in profit from selling academy players, youngsters developed in their own youth systems, over the summer. That was up €655m on 2025.
UEFA also looked at transfers between clubs under the same multi-club ownership, where one company or group owns more than one team. It put total fees at €152m against an estimated market value of €159m. More than half of that spending came from deals between Chelsea and Strasbourg.
The figures follow a record window for England. Premier League clubs spent £3.46 billion in the 2026 summer window, with Manchester City leading the way on £458 million, according to Reuters. That passed the previous record of £2.36 billion set in the window that closed in September 2023.
For fans, this means two things at once. The Premier League can reach for almost any player it wants. Everyone else has to sell smarter, grow their own, and hope the timing is right.
