Transfer spending among Premier League teams has increased drastically since the inception of the league. Over the past decade, extremely wealthy owners have begun purchasing majority stakes in clubs and spending recklessly to accumulate as much talent as possible. This paper aims to examine whether such exorbitant spending is effective financially and whether it improves the clubs competitively. Data is gathered from Deloitte’s Annual Reviews of Football Finance. I conclude that spending at such high levels does not improve on-field performance, which is consistent among clubs in the past decade and the elite clubs across all seasons.