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Premier League Heeds the Siren Song of Spend, Spend, Spend

NEWCASTLE, England — Last Wednesday, the English striker Andre Gray moved to Watford from Burnley. At 18.5 million pounds, or about $24 million, it was not the most expensive transfer this summer. It was hardly the most glamorous, and it is unlikely to be the most meaningful or memorable.

In its way, though, it was noteworthy. Gray’s move ensured that — for the second summer in a row — the 20 clubs of the Premier League had combined to spend more than a billion pounds in a single transfer window. Last year, the spree topped out at £1.