The gross spend for 2023’s first window was almost double the previous record of £430m in 2018 and nearly tripled the spending during the previous January window, with 2022 transfers costing top-flight clubs £295m.
The record for a full season had already been broken by a huge £1.92bn summer outlay, with January’s business putting an eventual total of £2.8bn – a new all-time high.
The headline transfer in January was that of Enzo Fernandez to Chelsea. The Blues broke the British transfer record by signing the midfielder from Benfica. The 22-year-old midfielder has signed a deal that will run until 2031, with Chelsea paying £106.8million for the Argentina World Cup winner.
Following the huge spending, we have put together the most expensive XI of all time, with Fernandez a new addition to the side. In a 3-4-3 formation, the likes of Jadon Sancho and Darwin Núñez miss out with other players in their respective positions costing more despite both players being among the most expensive 11 signings in Premier League history.
Using transfer fee estimates from Transfermarkt, and with fees listed in euros, here’s who makes the cut...
9. Forward - Antony (€95m)
The winger joined Man United from Ajax in the summer and is the fifth most expensive signing in Premier League history. Photo: Eddie Keogh
10. Forward - Romelu Lukaku (€113m)
The Belgian international is responsible for two of the top 10 most expensive Premier League transfers. His move from Everton to Man United in 2017 cost €84.7m before he joined Chelsea from Inter Milan in the summer of 2021 for €113m. Photo: OLI SCARFF
11. Forward - Jack Grealish (€117.5m)
The Man City winger is the most expensive British player of all time following his move from Aston Villa in 2021. Photo: Martin Rose