Premier League clubs splashed out more than £3bn on transfers last summer.
And we expect huge spending to happen again in 2026 as the market looks set to be another busy few months in the top flight.
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Clubs like Manchester United and Tottenham need a rebuild to get back to where they want to be… assuming Spurs manage to stay up, of course.
Meanwhile, Arsenal will look to build a strong position at the top of the league and Liverpool and Manchester City will look to close the gap on the champions-elect.
In this week’s Transfer Notebook, The Pitch Prospect takes a look at five big deals to look out for when the window reopens in June…
Enzo Fernandez
The Chelsea star has sparked doubts about his future at the club when he replied “I don’t know” when asked if he would still play at Stamford Bridge next season.
In a second, even more explosive interview with South American media, the Argentine appeared to criticize the Chelsea board for the sacking of former coach Enzo Maresca.
Fernandez’s comments have put clubs such as European heavyweights Real Madrid and PSG on alert, and a move to the Bernabeu in particular is believed to be of interest to the 25-year-old.
Should Chelsea miss out on a Champions League place, the focus will likely be on retaining their World Cup-winning midfielder.
Sandro Tonali
Tonali is one of several Newcastle players to attract interest from Premier League rivals.
The Italian’s agent rather mischievously offered Arsenal to his clients on transfer deadline day, although any suggestions he would be sold mid-season were immediately rejected by Newcastle.
Summer could be a different story and insiders at St James Park fear a repeat of last summer’s Alexander Isak saga is on the cards.
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Tonali is understood to prefer a return to Italy, but Newcastle’s expected price tag of around £80m makes that almost impossible.
Manchester United are among Tonali’s suitors as they plan an expensive midfield overhaul. I wouldn’t rule him out as a possible Rodri replacement at Manchester City either.
Elliot Anderson
As for City, Elliot Anderson is a name that is high on the list of their summer plans.
The Nottingham Forest midfielder has emerged as an almost permanent starter for England at the World Cup and a good tournament will only improve his reputation.
Anderson is also wanted by Manchester United, but sources at Old Trafford believe City are favorites to sign him.
Forest owner Evangelos Marinakis will certainly negotiate hard, but Anderson is unlikely to stay at the City Ground.
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Bruno Fernandes
Fernandes was close to leaving United for Saudi Arabia a year ago and is believed to be seriously considering an exit.
The big-money Saudi offer remains on the table, but Fernandes also has a £57m release clause that can be triggered by top European clubs.
Having recently surpassed David Beckham’s club record for most assists in a single season, United are determined to fight to retain their legendary captain.
To achieve this, they may have to give him a new contract and increase his salary.
If Fernandes does indeed leave, Nottingham Forest’s Morgan Gibbs-White is a possible replacement.
Mohamed Salah
Mo Salah’s alarming loss of form has been one of Liverpool’s biggest problems this season.
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Having led Arne Slot’s side to the title this time last year, the Egyptian has scored just five Premier League goals and fell out with his coach in December following his departure.
Dealmakers in Saudi Arabia continue to prioritize Salah as their main target and there is confidence they can finally land their man.
Saudi Pro League football director Michael Emenalo appears to be just waiting for the right time to make a move and has a close relationship with the Reds’ ‘Egyptian king’.