Tottenham Hotspur have agreed to pay up to £100m for Newcastle United midfielder Sandro Tonali, just a day after agreeing an £85m deal for West Ham's Mateus Fernandes. That brings Spurs' potential spending on three key signings to £237m, as the north London club launches an aggressive rebuild after back-to-back 17th-place finishes.
The summer transfer window is the period from mid-June to the end of August when Premier League clubs can buy and sell players. It is a time of intense activity, with record fees often broken. This year, Tottenham have been the most active club, already signing five players: defenders Andy Robertson and Marcos Senesi on free transfers, goalkeeper Martin Dubravka also on a free, centre-back Jan Paul van Hecke for £52m from Brighton, and now Fernandes and Tonali.
“The summer transfer window sees record spending; this explainer covers how and why.”
Tonali, 26, joined Newcastle from AC Milan for £55m in July 2023. Shortly after arriving, he received a 10-month ban from the Italian Football Federation for breaching betting rules. He returned to help Newcastle win the 2025 Carabao Cup – their first major domestic trophy in 70 years – and qualify for the Champions League. Despite that success, Newcastle finished 12th in the Premier League last season and have already sold Anthony Gordon to Barcelona for £69.3m and lost Alexander Isak to Liverpool the previous summer. Newcastle's commercial revenues are low by "top six" standards, and they need to sell before buying to comply with European and domestic spending rules.
For UK football fans, the summer transfer window is a cultural event. Record fees like Tonali's £100m price tag – which could rise to £100m with add-ons linked to Champions League qualification – dominate headlines. The deals reflect the huge money in English football, but also the financial pressures clubs face. Newcastle, for example, have only signed 20-year-old goalkeeper Ewen Jaouen this summer, and are working on a deal for Hoffenheim winger Bazoumana Toure.
### Key questions answered
Q: What is the summer transfer window? The summer transfer window is a period – typically from mid-June to the end of August – when football clubs can register new players. During this time, clubs negotiate fees, contracts, and medicals to strengthen their squads for the upcoming season.
Q: Why are transfer fees so high? Transfer fees are driven by demand for top talent, the huge TV and commercial revenues of Premier League clubs, and the need to meet competitive and financial targets. In Tottenham's case, manager Roberto De Zerbi has a clear vision to rebuild the team, and the club is using its strong off-field revenues to invest after two poor seasons.
Q: How do clubs afford such deals? Clubs generate income from broadcasting rights, matchday revenue, commercial partnerships, and player sales. They also spread payments over the length of a player's contract. However, spending is constrained by financial fair play rules, which require clubs to balance spending with revenue. Newcastle, for instance, sold players like Gordon and Isak to raise funds before spending big.
### What happens next Tonali is set to undergo a medical and is expected to sign a six-year contract worth at least £275,000 a week. His arrival will make him the centrepiece of De Zerbi's rebuild. Meanwhile, Newcastle will use the £100m fee to reinvest in new signings, with a bid for Toure progressing. The transfer window remains open until the end of August, and further big moves are expected across the Premier League.