The transfer window was a show of strength in a record-breaking summer across the Premier League.
The totaliser crept over £3bn in spending, with more than half of it flowing among the 20 clubs rather than having a redistributing effect across Europe.
The start of new Premier League TV deals – the biggest individual source of income being from Sky News’ parent company Comcast – provides certainty for the next four years, while rival leagues can struggle to sell rights.
And the feared threat from Saudi Arabia has not materialised. It is an attractive and lucrative destination for some players, but not yet the ultimate destination.
But the kingdom has still influenced this transfer window.
Let’s start with Newcastle, four years into their ownership by the Saudi sovereign wealth fund.
Having secured a return to the Champions League, bringing UEFA riches, this was the summer to grow rather than lose talent to rivals.
But the Premier League’s pecking order became clear when Alexander Isak pushed for a move to Liverpool and rejected bids that did not deter his ambitions.
Player power won out.
The 25-year-old striker was able to withdraw himself from the squad, miss the opening three matches of the season, and put out a statement claiming promises had been broken by the Magpies.
Read more: Isak completes £125m Liverpool move
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Liverpool ‘loading up on talent’
And so he held on until deadline day, biding his time, sitting it out, and standing firm. Newcastle folded, accepting £125m – £20m lower than their apparent valuation.
Breaking the British record fee was Liverpool’s American ownership flexing financial muscle like never before.
The Premier League champions allowed manager Arne Slot to build from a position of strength.
This was the second time they broke the record in this window after bringing in another forward, Florian Wirtz, in a £116m deal.
More than £400m in reinforcements arrived at Anfield in a matter of weeks.
Former Liverpool managing director Christian Purslow told Sky Sports: “Liverpool are making hay while the sun shines, going for it. Really loading up on talent.
“Other clubs should be fearful and respectful of the way [Fenway Sports Group] are running their club.”
The Isak deal weakened their Champions League rivals from the North East after banking £57m from another club owned by the Public Investment Fund when Darwin Nunez was offloaded to Saudi.
And PIF funded Chelsea’s summer spending spree in less obvious ways.
The Blues did negotiate a £44m package with PIF-backed Al Nassr deal for Joao Felix, recouping the fee paid just a year earlier.
But then there was the £90m prize money collected for winning the new FIFA Club World Cup – a competition bankrolled by PIF subsidiaries.
Where does this leave Newcastle? Still spending around £250m.
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Players and Liverpool couldn’t get all their way this summer, with Marc Guehi forced to stay at Crystal Palace after the FA Cup winners failed to secure a replacement for the England centre-back.
The late drama was just the latest of the summer transfer window’s twists and turns.
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Both Arsenal and Manchester United also spent more than £200m each. The Gunners spent big in pursuit of a title that’s eluded them since 2004, while the Red Devils are just trying to get back into the Champions League.
It added up to a new record total outlay that comfortably eclipsed the previous Premier League record of £2.46bn from 2023.
The £3bn is more than the rest of Europe combined, showing both where the power is in world football and why the Premier League is the one the world wants to watch.
