In brief
Ever since Erik ten Hag took over at Old Trafford, Manchester United has the second-highest net spend.
Manchester City is nearly making a profit in the transfer market, but Chelsea is in first place.
Concerns with FFP have compelled Everton to sell some of their most prized assets.
With expenditure at historically high levels since 2022, the Premier competition is still by far the richest competition in the world. Even though teams spent more than £1.9 billion in the summer 2024 transfer window alone, the league’s net expenditure has been steadily increasing, indicating a period of aggressive investment. This ultimately proved to be Erik ten Hag’s undoing at Manchester United, as his bad hiring practices resulted in subpar performances and, finally, his firing at Old Trafford.
The 54-year-old manager wasn’t the only one in the top division of England who was able to spend a lot of money, though. While large expenditures frequently necessitate balancing player sales and the books, particularly in order to adhere to the Profitability and Sustainability Rules (PSR) and Financial Fair Play (FFP), In light of this, the Premier League clubs’ net spending rankings since 2022 are shown here.
Manchester United and Chelsea Set the Standard
The two English powerhouses have made weak transfer market investments.
Not surprisingly, Boehly’s extremely aggressive transfer strategy—which has drawn harsh criticism from commentators like Jamie Carragher—has left Chelsea at the bottom of the net spend table. The Blues’ spending binge since Boehly’s takeover has resulted in a large number of new players, including expensive acquisitions like Pedro Neto and Joao Felix. They have already spent an incredible £1.15 billion since 2022, more than £500 million more than any other club. Their net spend is now almost £660 million in the red as a result.
Manchester United, who are currently led by former Sporting CP head coach Ruben Amorim, are quite close to them. During the same time span, the Red Devils’ net deficit was just about £450 million. High-profile departures like Paul Pogba and Romelu Lukaku demonstrate the Glazer family’s terrible value-for-money company over the last three years, which has resulted in a low return on investment due to financial mismanagement.
The amount the club has spent since Erik ten Hag took over in 2022 has not lessened the pressure on the authorities from the Old Trafford supporters, even though he is now an afterthought due to Ruben Amorim’s appointment. Their drop from where they ended in the Dutchman’s debut season to now is shocking, and investments like Antony have seemed to be among the worst transfers in the club’s lengthy and illustrious history. Amorim, 40, who was born in Lisbon, may try to pay off their £433.3 million in negative net spending in the upcoming years.
The Most Profitable Team Is Everton
Leeds United, the new guys, also end up in the green.
According to net spend valuations, Everton just emerged as the Premier League market’s most efficient team. Over the course of three seasons from 2022–2023, Sean Dyche’s team has remarkably managed to earn a profit of £81.4 million, while other teams are struggling with transfer debts that reach the millions.
This efficiency, however, is not the result of a clever transfer plan that purchases discounted talent and then sells it for a substantial profit. Rather, it is a reflection of the club’s severe financial difficulties, which led to a point deduction for violations of financial standards last season. In order to balance the books and prevent more penalties, the Toffees have been forced to dramatically reduce their budget and sell off their most prized players whenever possible.
With their recent return to the Premier League, Leeds United is ranked second in terms of market efficiency. The Yorkshiremen have made £66.2 million in net gains between 2022–2023. This is mostly because, after their 2024 relegation to the Championship, they sold off a number of their best players, notably Georginio Rutter to Brighton and Archie Gray to Tottenham Hotspur, which helped them raise money and lower their salary costs. The Whites still have a difficult season ahead of them despite their successful return to the top division.
Liverpool and Manchester City Wolves and Well Run Brighton are both entertaining to watch.
Despite the fact that teams like United, Chelsea, and even Arsenal are in serious trouble, Manchester City is remarkably well-run statistically considering their success. Pep Guardiola has only been able to manage a net spend of £181.6 million throughout what may be considered the most dominant period in English football. Naturally, that demonstrates that the Catalonian manager and his team have not hesitated to spend heavily, but it is incredibly astonishing for a successful club to have a higher net spend than teams like West Ham United and Nottingham Forest.
Even while it’s obvious that the champions have spent a lot of money, they know a) when to take advantage of the market’s constantly shifting demands and wants and b) when to set emotions aside and part ways with players at the best possible time. In that regard, the exits of players like Aymeric Laporte, Riyad Mahrez, and Julian Alvarez stand out.
In that regard, Liverpool is also a well-run club. Only five managers in Premier League history have won the championship in their first season, including Arne Slot. The Dutchman has a tradition to uphold, but he hasn’t spent much since coming, which has eased Jurgen Klopp’s departure. Given their success under Klopp and how well-positioned they are under Slot, Liverpool’s outstanding net spend of -£144.1 million suggests that they live up to the mantra, “Spend well, sell even better.”
With a net spend of just over £56 million, Brighton & Hove Albion has maintained its reputation for purchasing low and selling high. Had the Seagulls not smashed their transfer record twice in 2024, making good use of the money they made from players like Moises Caicedo and Alexis Mac Allister the year before, this would have undoubtedly been a profitable score. This hasn’t stopped them from consistently finishing in the top half of the division.
Wolverhampton Wanderers, who will have profited greatly from the recent sale of Pedro Neto to Chelsea, have also produced outstanding results. Though it hasn’t improved on-field performance, the Black Country team has been able to take advantage of the cost-effective deals thanks to smart recruitment. That was altered by Vitor Pereira’s arrival, but it’s unclear if they’ll have the same impact after Matheus Cunha’s high-profile transfer to Manchester United.
Net Spending by Premier League Clubs since 2022
Rank
Club
Spending on Transfers
Income Transfer
Net Spending
One
Chelsea
£1.15 billion
£492.3 million
-£660 million
2.
United Manchester
£588.8 million
£155.6 million
£433.3 million
3.
Tottenham Hotspur
£527.5 million
£180.6 million
-£346.9 million
4.
The Arsenal
£446 million
£148.7 million
-£297.3 million
5.
The Bournemouth
£287.3 million
£56.8 million
-£230.5 million
6.
Forest of Nottingham
£362.86 million
£146.7 million
-£216.1 million
7.
Newcastle United
£337.4 million
£124.6 million
-£212.8 million
8.
United West Ham
£408.3m
£202.3m
-£206m
9
City of Manchester
£552.9m
£371.4m
-£181.6m
10
Liverpool
£302.5m
£158.4m
-£144.1m
11
Brentford
£185m
£74.3m
-£110.7m
12
Crystal Palace
£173.5m
£89.3m
-£84.2m
13
Aston Villa
£368.9m
£289.5m
-£79.4m
14
Fulham
£202.5m
£89.3m
-£78.6m
15
Brighton & Hove Albion
£373.3m
£317.3m
-£56.0m
16
Wolverhampton Wanderers
£334.6m
£292.8m
-£41.7m
17
Burnley
£175.1m
£159.4m
-£15.8m
18.
Sunderland
£24.23m
£25.44m
-£1.2m
19
Leeds United
£195.3m
£261.5m
£66.2m
20
Everton
£146.1m
£227.5m
£81.4m
xz
