Uefa believes "a clear two-speed system" is emerging in the transfer market as a result of the huge spending by Premier League clubs this summer. In its latest report, European football's governing body laid bare just how dominant English clubs have become.

Uefa's report said the estimated €4.6bn (£4bn) spend by Premier League clubs is "larger than that of the next eight largest European countries combined." Andrea Traverso, Uefa's executive director of finance, said this trend "raises concerns." English clubs were involved in more than 60% of deals and paid an average of around €24m (£20.7m) per inbound player, compared with only around €4m to €5m in other major European leagues.

Traverso said any "correction in transfer values" or "slowdown in buyer demand" could have serious implications for any club carrying debt. The report added that transfer spend is "equivalent to 56% of their annual revenue" - much higher than the 33% average of the pre-Covid decade. Uefa also highlighted the increasing trend for English clubs to do big-value transfers between each other, which showed a 44% increase to €1.55bn.

The number of European transfer fees paid above €50m has significantly increased, from 14 in 2024 to 23 in 2025, and 35 in 2026, of which Premier League clubs were responsible for 29.