Over the years, Tottenham have built up a reputation for being the rub for the money. “You haven’t seen the London club among those who regularly get booed for breaking the financial rules of UEFA, or the Premier League. Both first place and second place on the list have been punished repeatedly. But on the other hand, Tottenham don’t have much to brag about when it comes to trophies either.
The list of the 12 clubs that have spent the most money on transfers in the last six years is clear – and it makes fascinating reading. Premier League clubs completely dominate.
Read: Tromsø rolls in money after Jens Hjertø-Dahl’s sale to the Premier League
Since 2020, English clubs have ravaged the transfer market like no other. La Liga was once the benchmark for success – but now the pendulum has swung, with Liverpool, Arsenal and Manchester City being the teams to beat in the Champions League.
But spending money is only half the battle. As the list shows, money can make the world go round – but it doesn’t buy a guarantee of success in football.
For every club that has won gold, another has been left with the black box. There is no substitute for smart recruitment – and getting the right pieces in place.
12. Bayern Munich – €798 million
Bayern Munich’s two best signings in the last six years have both come in a 12-month window – with Michael Olise following Harry Kane through the door in 2024. Together, they have torn the Bundesliga apart. But perhaps the German giants will have to open their wallets a little more before the super team can translate into continental success.
11. West Ham – €824 million
West Ham are paying the price to have all the equipment – but apparently no plan. Last season, they were relegated to the Championship. Constant substitution of players is perhaps a bigger problem than the actual spending – they have all too easily let go of Lucas Paquetá and Mohammed Kudus.
10. Aston Villa – €845 million
There has been an impression that Aston Villa have not been able to spend as much as they deserve due to PSR issues. The fact that they have spent close to one billion euros in the last six summers suggests otherwise. But unlike their claret and blue rivals, they have at least seen progress – they won the Europa League just a few months ago, before breaking a club record on World Cup star Johan Manzambi.
9. Juventus – €935 million
“The Old Lady” has not won Serie A since the 2019/20 season – despite being Italy’s biggest users by far. Among the most notable acquisitions is Dušan Vlahović, who is considered one of the world’s best young players.
8. Newcastle United – €1 billion
Newcastle has the world’s richest owners through Saudi-PIF, so it is natural that they rank high on this list. But they have the same problem as West Ham – keeping their most valuable possessions. They sold Alexander Isak on deadline day in 2025, before releasing Anthony Gordon and Sandro Tonali this year.
7. Liverpool – €1,12 billion
Last season, Liverpool broke the bank twice to sign Florian Wirtz and Alexander Isak – and broke the British transfer record twice in the same window. Not content with that, they also brought in Hugo Ekitike and Milos Kerkez – meaning that almost a quarter of the money spent in the last six years came in a single explosive transfer window.
6. Paris Saint-Germain – €1,12 billion
Perhaps no club on this list has gotten more bang for their buck than PSG, who defended their Champions League title last summer under Luis Enrique. Ten years ago, they were the world’s largest users, but they have realized that superstar names are not the only ingredient for success – and have since been far more wise in their trading.
5. Arsenal – 1,16 billion euros
Like PSG, Arsenal is a team that has reaped the rewards of refusing to give up – even when it looked like all the million-dollar purchases failed. Under Mikel Arteta, the Gunners have had to be extremely patient – but Declan Rice, Kai Havertz and Viktor Gyökeres were among those who delivered the goods and secured the club’s first Premier League title in 22 years last season.
4. Manchester United – €1,28 billion
Manchester United have had seven different managers since 2020 – and spent huge sums of money on compensation when things haven’t gone as planned. The club continues to pile up debt, but that has not stopped the spending. Antony, Jadon Sancho and André Onana are among the most costly mistakes in a six-year period that has only resulted in one FA Cup and one League Cup.
3. Tottenham – €1.38 billion
In recent years, there have been genuine questions about whether Tottenham deserve their place among the Premier League’s “Big Six”. Now, under Roberto De Zerbi, the north London club will have to translate their spending into results to prove that they still belong in the elite.
2. Manchester City – €1,45 billion
Rivals can say what they want about Manchester City’s spending – but at least the endless money has been turned into trophies. They have crushed the competition over the past decade, with far more hits than misses in the transfer market. Pep Guardiola’s only weakness is perhaps the time it took to get a solid defence – and the fact that one Champions League title is a little below par.
1. Chelsea – 2,41 billion euros
Who else could it be? There isn’t enough space on the internet to list Todd Boehly’s problems at Chelsea – and his careless spending, mostly on failed wingers, has cost the Blues all direction. Three of the transfer windows under the American are among the most expensive ever – but they have nothing to show for it. Xabi Alonso has a huge task ahead of him – but at least he is supported.
Hoping to repeat the Mason Greenwood formula with Mykhaylo Mudryk
