Liverpool spent a hefty £450m on transfers last summer, but they were unable to remove Manchester United from the top of the net spending rankings over the past five years. Net spending, defined as “the transfer fee spent on acquiring a player minus the transfer fee received when the player leaves”, remains a frequently discussed metric in football circles.
The Red Devils are consistently the world’s biggest spending team in the transfer market and are consistently ranked as one of the most active recruiters in football. However, their heavy spending is hardly matched by the income they receive from player departures, in stark contrast to the reigning Premier League champions.
It’s been almost 13 years since United last lifted the Premier League trophy, but in the five years since summer 2021, Ruben Amorim’s side have firmly established themselves at the top of the net spending rankings. Their cumulative net spend stands at -684.61 million pounds, just £10 million more than second-placed Arsenal’s -675.77 million pounds.
Chelsea are third with a net spend of £662.04m over the Blues, and despite having spent more than £1bn since Todd Boley took over, they have recouped significant transfer fees through player sales in recent campaigns. Tottenham Hotspur follow, with a total of £569.24m over the past five years, despite their most recent top-four finish coming in 2021/22.
This season coincidentally had the lowest net spending in all five years. Rounding out the top five are Newcastle United, with a total net spend of £430.61m, a figure significantly increased by the sale of Alexander Isak to Liverpool for £125m last summer. Liverpool are sixth on this list with a net spend of -426.77 million pounds, proof of their shrewd transfer dealings.
During the 2019/20 season, when they won the Premier League title for the first time, Liverpool actually recorded a positive net spend of £29.14m, with January signing Takumi Minamino’s £7.25m being their biggest spend throughout the summer and winter transfer windows.
However, a different picture is painted as their net spend this summer was £228.6m, marking the biggest transfer window in their history by a considerable margin. The club broke its own transfer record twice. The first was for Florian Wirtz for £116 million, followed by Isak a month later.
Manchester United’s net spend of £154.34m last summer was their second highest in five years, but the bulk of their transfer activity focused on revamping their attacking line-up. Nearly £200 million was spent on Matheus Cunha, Brian Mbeumo and Benjamin Sesko.
1) Manchester United’s net spend over five years: -684.61 million pounds
25/26: £-154.34 million
24/25: £-112.89 million (15th place)
23/24: £-128.48m (8th place)
22/23: £-191.94m (3rd place)
21/22: £-9697m (6th place)
2) Arsenal’s net spend over five years: -£675.77m
25/26: £-246.26 million
24/25: £-20.81 million (2nd place)
23/24: £-144.26 million (2nd place)
22/23: -141.39 million pounds (2nd place)
21/22: -118.26 million pounds (5th place)
3) Chelsea’s net spend over five years: -£662.04m
25/26: £-6.03 million
24/25: £-3,376m (4th place)
23/24: £-153.68 million (6th place)
22/23: -473.95 million pounds (12th place)
21/22: 31.16 million pounds (3rd place)
4) Tottenham’s net spend over five years: -569.24 million pounds
25/26: £-146.6m
24/25: -91.42 million pounds (17th place)
23/24: £-125.5 million (5th place)
22/23: £-117m (8th place)
21/22: £-50.8m (4th place)
5) Newcastle United’s net spend over five years: -430.61 million pounds
25/26: £-89.94 million
24/25: -17.73 million pounds (5th place)
23/24: £-8,579m (7th place)
22/23: -141.69 million pounds (4th place)
21/22: -108.17 million pounds (11th place)
6) Liverpool’s net spend over five years: -426.77 million pounds
25/26: £-228.6m
24/25: £29.14 million (Champions)
23/24: £-9,226m (3rd place)
22/23: £-5,396m (5th place)
21/22: £-5,002m (2nd place)
7) Manchester City’s net spend over five years: -£346.56m
25/26: £-118.61 million
24/25: £-8,775m (3rd place)
23/24: £-104.64 million (Champions)
22/23: £5.94 million (Champions)
21/22: £-3,738m (Champions)
8) Nottingham Forest’s net spend over five years: -£328.86 million.
25/26: -97.28 million pounds
24/25: £-15.58 million (7th place)
23/24: £-4,228m (17th place)
22/23: -167.48 million pounds (16th place)
21/22: £-5.07 million (4th place in the championship)
9) West Ham United’s net spend over five years: -£323.16m
25/26: £-47.22 million
24/25: £-82.6m (14th place)
23/24: 21.47 million pounds (9th place)
22/23: -145.1 million pounds (14th place)
21/22: £-5,825m (7th place)
10) Bournemouth’s net spend over five years: -£155.77m
25/26: £85.72 million
24/25: £-5,967m (9th place)
23/24: £-111.27m (12th place)
22/23: £-7,857m (15th place)
21/22: 10.08 million pounds (2nd place in the championship)
11) Crystal Palace’s net spend over five years: -£145.95m
25/26: £15.31 million
24/25: £7.45 million (12th place)
23/24: £-56.2m (10th place)
22/23: £-34.11 million (11th place)
21/22: £-7,097m (12th place)
12) Sunderland’s net spend over five years: -£121.19m
25/26: £-136.5m
24/25: £5.41 million (4th in the Championship)
23/24: £-1.54 million (16th in the championship)
22/23: £5.08 million (6th place in the championship)
21/22: £-0.2m (5th place in League 1)
13) Fulham’s net spend over five years: -£119.55m
25/26: £-24.32 million
24/25: £-18.86 million (11th place)
23/24: £-16.55 million (13th place)
22/23: £-4,203m (10th place)
21/22: £-13.1 million (1st place in the championship)
14) Burnley’s net spend over five years: -108.67 million pounds.
25/26: £-80.96 million
24/25: £46.2 million (2nd place in the Championship)
23/24: £-90m (19th place)
22/23: 28.03 million pounds (1st place in the championship)
21/22: £-7.47 million (18th place)
15) Brentford net spend over 5 years: -98.16 million pounds
25/26: £49.95 million
24/25: £-2,012m (10th place)
23/24: £-52.3m (16th place)
22/23: £-3,844m (9th place)
21/22: £-3,133m (13th place)
16) Leeds United’s net spend over five years: -£75.4m
25/26: -91.51 million pounds
24/25: 109.47 million pounds (1st place in the championship)
23/24: £-195m (3rd place in the championship)
22/23: £-41.44 million (19th place)
21/22: £-4,975m (17th place)
17) Aston Villa’s net spend over five years: -£63.41m
25/26: £21.74 million
24/25: £39.54 million (6th place)
23/24: £-6,544m (4th place)
22/23: £-3,825m (7th place)
21/22: £-2.32 million (14th place)
18) Wolves net spend over five years: -48.92 million pounds
25/26: £11.5 million
24/25: £-7.11 million (16th place)
23/24: 64.14 million pounds (14th place)
22/23: -97.64 million pounds (13th place)
21/22: £-4.96 million (10th place)
19) Everton’s net spend over five years: -12.13 million pounds
25/26: -101.87 million pounds
24/25: 28.17 million pounds (13th place)
23/24: 36.23 million pounds (15th place)
22/23: 21.7 million pounds (17th place)
21/22: 5.56 million pounds (16th place)
20) Brighton’s net spend over five years: £2.28m
25/26: £57.71 million
24/25: -191.58 million pounds (8th place)
23/24: £69.1 million (11th place)
22/23: 70.82 million pounds (6th place)
21/22: 3.25 million pounds (9th place)
