“As the transfer window closed in early September it was possible to draw the first conclusions about what could be expected for the season based on TPI (Transfer Price Index ©). All figures below are based on current values, so the the latest inflation figures have been applied (using the inflation index of all transfers in the relevant season). Amidst all of the hype in the Sky Sports studio, it was clear from an early stage that all records were about to be broken. Man City were hamstrung by FFP regulations and so were unlikely to spend significantly in an attempt to defend their title, but below them Chelsea and Liverpool had sold expensively (David Luis and Luis Suárez respectively) and so had funds to spare, whereas Arsenal wanted to cement their position in the top four, with Man United expected to spend heavily to regain after they missed out on European football for the first time since football began – as Sky Sports would have you believe. All this came with the first influx of money from the new increased television deal.”
Tomkins Times