In the Premier League’s shadow, Italy’s Serie A shows serious financial might

Rome: Despite a challenging year for Italian football, Serie A clubs have reasserted their standing in Europe’s financial hierarchy ahead of the transfer window deadline on September 1.

Serie A currently holds a firm second place among Europe’s "Big Five" leagues in both total expenditure and net spend. According to data from Transfermarkt, Italian clubs have spent over 1 billion euros ($1.165 billion) this summer, placing them comfortably ahead of La Liga (roughly 750 million euros) and the Bundesliga.

Across all 20 clubs, Serie A shows a net deficit of nearly 430 million euros, compared to just under 300 million euros in Spain. By contrast, both the Bundesliga and Ligue 1 are currently operating in profit.

However, the "Big Five" designation highlights a growing divide. English Premier League clubs have spent 3.2 billion euros so far—exceeding the combined total of the other four major leagues.

As the second round of Serie A fixtures begins on Friday, AC Milan host newly-promoted Venezia as Italy’s highest spenders of the window so far. Milan’s reported 74 million euro purchase of Gonçalo Ramos from Paris Saint-Germain marks Serie A’s costliest transfer since Juventus acquired Dušan Vlahović from Fiorentina five years ago.

Along with the 50 million euro signing of Diego Moreira from Strasbourg, Milan’s total summer investment sits near 160 million euros, slightly ahead of Juventus.

Under new manager Rúben Amorim, who began last season with Manchester United in the Premier League, Milan opened their domestic campaign with a 2-1 victory away at Torino.

Speaking at his pre-match press conference on Thursday, Amorim addressed the possibility of further squad additions before the deadline.

"We have to wait five more days until the transfer window closes," Amorim said. "If someone arrives, it will be because they can help us both now and in the future."

Amorim also emphasized the importance of managing squad size and outgoings, addressing reports regarding the potential departures of Fikayo Tomori, Youssouf Fofana, and Santiago Giménez.

"It's impossible to train during the week with 27 players. Nobody is going to be prepared, nobody is going to be satisfied, so there are some players that if they stay, they will not be part of the squad," he said.

Reflecting on the wider state of Italian football following the national team's failure to qualify for the World Cup, Amorim advocated for long-term player development.

"We need to take time and believe in our young players," he said. "We are going to have some problems with young players in some games, but big surprises happen."

"Everyone wants everything really fast and I'm a little bit old school. I think a lot of things will take time."

On the pitch, the opening weekend largely reflected the financial layout. Five of Serie A's top six spenders—AC Milan, champions Inter Milan, Juventus, Roma, and Napoli—all secured victories. The only exception among the high spenders was Fiorentina, who suffered a loss to Roma. (AFP)