In recent years, the metric to measure how well a team is functioning in the transfer market is their net spending data. If they also bring in the same amount or even more in player sales, then it doesn't matter how much money they spend. To this end, Transfermarkt has revealed the 20 teams with the highest net spending in the last five years.
1. Chelsea
Net expenditure: £674 million
Since Todd Boehly took charge of Chelsea, the Blues have spent a lot of money. In the short time he has been in charge of Chelsea, the Blues have spent almost £1 billion like crazy, so it's no surprise they have had the highest net spend in the last five years. But that didn't lead to on-pitch success, with Chelsea having their worst record in decades last season.
They have spent more than £200 million on the midfield duo of Moises Caicedo and Enzo Fernandez alone, and Chelsea have also targeted some young and promising young stars, and have paid a high price for them. Although it took some time, under Pochettino, there have been recent signs that everything is going in the right direction.
2. Manchester United
Net expenditure: £597 million
Manchester United have spent a lot of money since Alex Ferguson left, but their results are still not as good as they could be. In the last five years alone, Manchester United have spent close to £600 million on net money, and that money has been spent on the wrong players.
3. Arsenal
Net expenditure: £550 million
After a period of disappointment, Arsenal are once again one of the best teams in England. Under Arteta, they have become a team capable of challenging for the Premier League title, but at no low cost. The team had to pull out the checkbook several times and spend lavishly when necessary.
Last summer, Arsenal spent more than £100 million to buy West Ham United's Declan Rice, setting a record transfer fee for the club. Declan Rice wasn't the only one, though, as Arsenal also brought in Leandro Trossard, Kai Havertz and Gabriel Jesus for high prices, but the results varied. If the Gunners want to finally reclaim the Premier League title, then this expenditure is what is needed to compete with a team like Manchester City.
4. Tottenham
Net expenditure: £460 million
When it comes to Tottenham, people don't think about spending money. In fact, it was widely believed over the years that they didn't invest enough money to sign players. That doesn't seem to be the case today, though, as their net spending has reached £460 million over the past five years.
5. Newcastle United
Net expenditure: £418 million
The 2021 acquisition changed everything for Newcastle United. During the Michael Ashley era, fans often complained about the lack of investment in the team. Today, Magpies have spent £418 million on net spending over the past five years. The Magpies spent huge sums of money to turn the team from a relegation contender into a Champions League team. Stars like Alexander Isak, Bruno Guimaraes, Sandro Tonali and Anthony Gordon were all brought in for huge transfer fees. Alain Saint-Maximin was sold to Jeddah National last summer and they did get a good return, but for the most part, Newcastle United have been spending money, spending money and spending money again.
6. Paris Saint-Germain
Net expenditure: £393 million
For a while, Paris Saint-Germain was known for their staggering spending, and they earned their place in French football as a result. Paris Saint-Germain have seen a slight reduction in spending in recent seasons, but it is still far ahead of the rest of the country. The sale of Neymar has made the figure a bit more decent, but PSG's net expenditure over the past five years is still close to £400 million.
7. Riyadh Crescent
Net expenditure: £375 million
Riyadh Crescent is the first (but certainly not the last) Saudi team to make it to this list, having spent a lot of money in recent years, which is evident from their net spending. Last summer, the team went on a frenzy to sign superstars such as Neymar, Malcom, Ruben Neves and Aleksandar Mitrovic, and their net spending skyrocketed as a result.
8. Aston Villa
Net expenditure: £329 million
This season, under Unai Emery, Aston Villa finished fairytale in the top four. When Unai Emery first took charge last season, Villa were still battling relegation, and now they have achieved a stunning comeback. Still, given their net spending over the past five years, it's fair to say that they actually just underperformed before he took office.
Villa have spent £329 million on net since 2019 and during that time they have signed the likes of Moussa Diaby, Leon Bailey and Pau Torres for quite high prices. However, the sale of Jack Grealish to Manchester City, this amount is more than 1
9. Manchester City
Net expenditure: £326 million
Over the past 15 years, Manchester City have been known for spending big, but surprisingly, in the last 5 years, Manchester City has only ranked 9th in net spending. While signing talented players such as Erling Haaland and Jake Grealish at a premium price, they are also selling players for a significant price. The departures of players such as Ferran Torres and Leroy Sane have kept City's net expenditure at a respectable level. Given their huge success in recent years, the £326 million net spend really doesn't seem like much.
10. West Ham United
Net expenditure: £241 million
Despite selling Declan Rice for more than £100 million last summer, West Ham's net expenditure is still close to £250 million. That's a pretty outrageous number for a team that often struggles in the league.
11. Liverpool
Net expenditure: £223 million
Liverpool may seem stingy compared to Manchester City, but in reality, Liverpool's net expenditure is still a whopping £223 million. After all, Liverpool have also bought high-priced stars like Darwin Nunez and McAllister in recent years.
12.AC Milan
Net expenditure: £220 million
In 2022, AC Milan finally regained the Serie A title, 11 years after their last title. This is mainly due to the team's excellent performance in the transfer market, with the signing of the likes of Fikayo Tomori and Sandro Tonali. However, they have had their share of misses in the transfer market, such as Charles de Ketelaeral, who spent more than £30 million to sign, but his performances have been very disappointing.
Despite this, AC Milan has been able to keep their net spending at a respectable level. They traded Sandro Tonali for a huge transfer fee last summer, with the midfielder moving to Newcastle United for close to £60 million.
13. Bayern Munich
Net expenditure: £208 million
If you want to maintain your league dominance for more than a decade, you have to spend a lot of money, and Bayern Munich has done just that. In recent years, the Bundesliga giants have spent huge sums of money on stars such as Matthijs De Ligt and Harry Kane in an attempt to retain their position as the kings of German football. However, the sale of stars such as Sadio Mane, Hrafenberg and Lucas Hernandez has kept Bayern's net expenditure at a respectable level.
14. Nottingham Forest
Net expenditure: £201 million
Although Nottingham Forest only returned to the Premier League last year, their net expenditure has exceeded £200 million. Reaching such a figure in such a short period of time is unbelievable, but it also proves the ambition of the owners to stay in the Premier League.
15. Riyadh victory
Net expenditure: £183 million
After signing Cristiano Ronaldo in 2022, Riyadh Victory were hoping to make a difference last summer as they recruited a number of big-name stars to play alongside the former Manchester United star. They weren't the only ones to do so, with many teams in the Saudi Pro League throwing money out during that period. With stars such as Sadio Mane and Aymeric Laporte joining Riyadh Victory Hope alongside Cristiano Ronaldo, the team's net expenditure amounted to £183 million.
16. Leeds United
Net expenditure: £173 million
Considering Leeds United have only spent two of the last five years in the Premier League, Leeds United's net spending is higher than currently more than several of the biggest teams in the world at the moment. They spent huge sums of money trying to establish themselves as a Premier League powerhouse again, only they didn't spend their money on the right talent.
17. Juventus
Net expenditure: £172 million
Juventus used to be the giants of Italian football, but it has declined slightly in the last few years. This may be due to the fact that the team's net expenditure is only £172 million. While they have signed some big-name stars in the last few years, such as Federico Chiesa and Moise Keane, they have also seen some big-name stars go, such as Matthijs De Ligt and Dejan Kulusevski. This keeps their net spending at a respectable level and ensures that the team hasn't lost too much money over the past five years, but it could also be one of the reasons why their dominance in Serie A has been relinquished.
18. Jeddah Nationals
Net expenditure: £165 million
The third and final Saudi team on this list, Jeddah Nationals competed with some of the other big teams in Saudi Arabia last summer, spending a lot of money to attract big-name stars. The likes of Riyad Mahrez, Allan Saint-Maximin and Edouard Mendy all made big transfers to the club last summer. The Saudi Pro League teams will continue to make big signings this summer, and don't be too surprised if Jeddah National can climb a few places up the list in the near future.
19. Real Madrid
Net expenditure: £149 million
In fact, it's quite remarkable that Real Madrid's net spending over the last five years has been so low, considering the talent they have recruited over the past five years. The likes of Jude Bellingham, Tchouameni and Eduardo Camavinga have all signed with Real Madrid in the last few years, but their net expenditure is still just £149million.
20. Barcelona
Net expenditure: £136 million
Barcelona are the teams that have just finished in the top 20. Despite years of notoriety for pouring heavily into their players, Barcelona's net spending over the past five years has been quite substantial. While teams have recently spent big on stars like Lewandowski and Raphinha, 19 teams have made higher net spends over the past five years.