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 European club talent and competition landscape report, European football's governing body laid bare just how dominant English clubs' transfer activity has become.

UEFA's report said that 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 that this trend "raises concerns".

"Transfer values continue to rise sharply, particularly in the English market, increasing future pressure on club financial results," Traverso wrote.

"These developments also point to an increasing concentration of talent and a growing polarisation of the market, with the emergence of a clear two-speed system.

"English clubs were involved in more than 60% of the deals and paid an average of around €24m (£20.7m) per inbound player, compared with only around €4m (£3.4m) to €5m (£4.3m) in the other major European leagues, underlining a widening gap in purchasing power."

Traverso said that any "correction in transfer values" or "slowdown in buyer demand" could have serious implications for any club carrying debt.

The report added that the transfer spend of the 20 Premier League clubs this year 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 (£1.33bn).

The English domestic market was "as large in fee value as the next five market flows combined".

A market flow describes league-to-league deals. After the English domestic market, the next most lucrative was the German Bundesliga to the Premier League, at €690m (£594m).

The number of European transfer fees paid above €50m has significantly increased, from 14 in the summer of 2024 to 23 in 2025. In 2026 there was another jump to 35 such deals, of which Premier League clubs were responsible for 29.

With pressure to pass financial regulations, clubs have increasingly looked to sell academy players as they provide pure profit on the books.

European clubs generated an estimated profit of €6.8bn (£5.85bn) on these sales over the summer, an increase of €655m (£564bn) on 2025.

Uefa also found little evidence of clubs using multi-club ownership structures to move players for inflated or reduced fees.

Total transfer fees of such deals were €152m (£130.8m) with an estimated market value of €159m (£136.8m).

More than half of this spend came from transfers between Chelsea and Strasbourg.