Record spending of £3 billion ($4 billion) during the summer transfer window further cements the Premier League as the "most competitive in world football", according to financial experts Deloitte.

The window closed in dramatic style late on Monday when Liverpool announced the British record £125 million signing of Newcastle striker Alexander Isak after a day of big moves.

The gross spend of more than £3 billion during the window is around £650 million higher than the previous record of £2.4 billion set in 2023, according to Deloitte.

It is the third consecutive summer in which gross spend has exceeded £2 billion, and the first in which it has reached £3 billion.

Spending outstripped that across the rest of the big five leagues in Europe, making up 51 percent of total gross spend among the group -- the Premier League, La Liga, the Bundesliga, Serie A and Ligue 1.

Tim Bridge, lead partner in the Deloitte Sports Business Group, said: "A third record-breaking summer of Premier League spending in four years sends a strong signal that, despite subdued spending across the rest of the continent, clubs have no plans to slow down their investment in the on-pitch product.

"With more English teams than ever competing in European competitions, more than any other league across Europe, Premier League clubs are looking to attract the best talent and further cement the league as the most competitive in world football."