£3.46 billion and counting: Premier League clubs smash summer spending record

Premier League clubs have smashed their summer transfer spending record for a second successive season, with England's top-flight teams splashing out around £3.46 billion ($4.67 billion) in a window that featured a string of blockbuster deals.

The spending frenzy went down to the final hours of the transfer window on Tuesday, with several big-money moves completed before the 11 p.m. deadline.

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Manchester City capped their summer spree by signing Argentina midfielder Enzo Fernandez from Chelsea for a reported £125 million, matching the British transfer record. City also brought in Senegal winger Iliman Ndiaye from Everton for a reported £65 million.

The latest spending record comes just a year after Premier League clubs first crossed the £3 billion mark, while total summer outlay stood at just £1.13 billion five years ago.

Fernandez was one of four players to command fees of more than £100 million during the window.

City paid £116 million for midfielder Elliot Anderson from Nottingham Forest, while Chelsea signed Morgan Rogers from Aston Villa for £117 million. Liverpool agreed to pay an initial £107 million for France winger Bradley Barcola from Paris St Germain, with the deal potentially rising to £123 million.

Tottenham Hotspur also broke their club transfer record by signing Sandro Tonali from Newcastle United in a deal that could reach £100 million.

Four of the 11 most expensive signings in Premier League history — Fernandez, Anderson, Rogers and Barcola — have arrived during this summer's window.

The spending was not confined to the biggest clubs. Aston Villa announced their 11th signing of the window with the £47 million purchase of Senegal winger Ibrahim Mbaye from Paris St Germain, while Newcastle United paid £51.4 million for forward Matias Fernandez-Pardo from Lille.

Premier League clubs are also increasingly trading among themselves, with around 38% of deals involving two top-flight sides, up from 30% last summer.

Manchester City led the spending charts with £458 million as new manager Enzo Maresca reshaped his squad. Chelsea also spent heavily, laying out £349 million to back new boss Xabi Alonso.

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Tottenham spent £303 million as they rebuild after two successive seasons in which they came close to relegation.

According to Transfermarkt, promoted trio Ipswich, Coventry City and Hull City spent more than £400 million between them as they prepared for life in the Premier League.

Sunderland, meanwhile, beat Crystal Palace to the signing of highly rated 21-year-old Belgian winger Malick Fofana from Olympique Lyonnais in a reported £30 million deal.

Not every deadline-day deal made it over the line.

British media reported that Everton's move for Folarin Balogun collapsed after the US striker decided against proceeding with the transfer. Senegal midfielder Lamine Camara also remained at Monaco after his reported £47.1 million move to Chelsea fell through.

The record spending underlines the Premier League's financial muscle, with clubs continuing to commit huge sums to strengthen their squads even as the transfer market reaches unprecedented levels.