Premier League big guns reload as transfer arms race heats up

– Astronomical –

Keen not to be left behind by City, Chelsea manager Antonio Conte has been pressuring Blues owner Roman Abramovich to back his demand for major investment ahead of his side’s return to the Champions League after a one-year absence.

So far, Chelsea have spent over £120 million, with their headline deals a £58 million move for Real Madrid striker Alvaro Morata and a £34 million swoop for Monaco’s Tiemoue Bakayoko.

Manchester United manager Jose Mourinho had to pay a British record £75 million to beat his old club Chelsea to the signature of Everton’s Belgian forward Romelu Lukaku.

That deal, following the £31 million signing of Benfica’s Victor Lindelof, moved United over the £100 million mark.

Arsene Wenger’s decision to extend his 21-year reign at Arsenal after a turbulent season has persuaded Gunners owner Stan Kroenke to sanction the club record £52 million signing of Lyon striker Alexandre Lacazette.

Liverpool also broke their transfer record, paying £37 million for Roma winger Mohamed Salah.

And, in a perfect encapsulation of the Premier League’s spending power, even Everton, notoriously careful with their finances in the past, have paid over £90 million as they lured Wayne Rooney, Michael Keane and Jordan Pickford among others to Goodison Park.

Newly promoted Huddersfield and Newcastle have both spent over £30 million already, while only Tottenham and Stoke have yet to get the chequebook out.

While some look at the astronomical fees being paid and wonder if the desire of English clubs to flex their financial muscles could one day prove fatal for some of the less historically successful teams, the Premier League’s executive chairman Richard Scudamore insists the spree remains sustainable.

“Profitability is improving. The most important thing is player costs as a percentage of turnover,” Scudamore said last week.

“We’re down in the early 60 percents and we were much higher 10 years ago. Sixty per cent of turnover spent on player costs is actually very manageable.”

Scudamore’s message is carry on spending and there’s little doubt his league will rise to the challenge.