Newcastle vs Chelsea: which team has spent the most money on transfers in the last 2 years?

Premier League clubs spent £2.44 billion ($3bn) on new signings during the 2023 summer window in a record-breaking period that saw the previous high - set just last year - smashed by £300,000,000 ($376m).

During this period, the clubs in England’s top division also generated a record-breaking £1.36 billion ($1.7bn) from player sales. As you may imagine, the vast majority of this cash was not spent by Luton, Burnley and Everton (OK, maybe they did), but instead the top teams in the league. We’re going to take a look at 2 teams in particular, Newcastle and Chelsea, who have seen recent changes in ownership and now have very deep pockets indeed.

But before we start, a brief message: the transfer fees in this piece were taken from either Forbes, Sporting Intelligence or elsewhere (stated). Things change, conversion rates fluctuate and arguing over a million pounds/dollars when we’re talking about billions is like choosing your favourite shade of cream paint, it doesn’t matter.

How much money did Newcastle spend last summer?

You may have noticed that back in October 2021, the sovereign wealth fund of Saudi Arabia (PIF), the richest country in the Middle East, the largest exporter of petroleum in the world, a country that criminalises gay relationships, one that only a few years ago decided to allow women to drive cars and travel without the permission of a man, acquired 80 percent of the shares of Newcastle United.

Under the ownership of PIF, Newcastle have had a remarkable turnaround, with the change in fortunes drastic from where they were just over a year ago, languishing aboce the plughole of the Premier League. The numbers vary depending on the source, given added fees and exchange rates, but the spending from The Magpies since the takeover sits at around £273 million ($342m), with up to £160m ($200m) of that money coming this summer for players such as Sandro Tonali and Harvey Barnes, putting them in and around the top 5 spenders.

Their most expensive signing, Alexander Isak, who arrived for around £60 million ($75m; ESPN), is the most expensive deal in the club’s history.

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How much money did Chelsea spend last summer?

Are you a striker looking to find your way in football? Have you scored 3 goals in 23 appearances in your first season as a professional? Do you have any neck tattoos?

If you answered yes to one or more of those questions, join Chelsea today! The Blues are willing to spend record amounts of money to snap you up and give you life-changing wages that make Amanda Staveley and Jamie Reuben look like two of Monty Python’s Four Yorkshiremen.

Chelsea, under the ownership of Roman Abramovich, were not short of funds. However, with Todd Boehly and BlueCo at the helm, their spending has become stratospheric (and they’re under Premier League investigation). The club have splashed out over £1 billion ($1.25bn) since his takeover last year with around £428.8 ($538m) million being spent the past past summer. To put that into perspective, Manchester City spent £211 million ($264m) last summer, just under half.

While it is true that players such as Havertz, Pulisic, Mount and Kovacic all contributed to the incomings at Stamford Bridge, Chelsea are certainly in a league of their own when it comes to spending and moves for Enzo Fernández, Moisés Caicedo and Mykhailo Mudryk certainly show that to be true.

Who spent more over the past two years: Newcastle or Chelsea?

Despite Newcastle’s takeover, it is The Blues who are the big cash splashers in the Premier League, at least for the time being, having spent over three times what The Magpies have so far. What’s certain is that the Newcastle project is far from over, so expect to see the gap tighten at the top regarding who has the biggest wallet in their mammoth-sized chino pocket. That is, if Chelsea slow down their rate of buying attackers, which has seen a new name added to the list.