On average, during the last three summer transfer windows (2013-2015), the transfer expenditure of big-5 league clubs was 68% greater than in the three previous ones (2010-2012). The biggest increase was recorded at English Premier League level: +98%.

Manchester City tops the table for summer 2015 with a transfer expenditure of 230 million €, ahead of Manchester United (189 million €) and Juventus (137 million €). The transfer expenditure of English clubs (1.35 billion €, new record high) accounted for 41% of total big-5 league investments.

Manchester City also heads the ranking of transfer fees invested since July 2010: 784 million €. In second and third position are two other English clubs: Chelsea (711 million €) and Manchester United (640 million €). The first non-English club is French side Paris St-Germain (615 million €).

On average, big-5 league players transferred for money during last summer were paid 23% more than footballers with similar characteristics transferred during the five previous years. If we add this percentage to the transfer values estimated by the CIES Football Observatory at the end of the 2014/15 season on the basis of its exclusive econometric model, we obtain figures taking inflation into account.

The comparison of these values with fees paid by clubs allows us to assess transfers from an economic perspective. This analysis is carried out without considering add-on fees related to the future performance of players, nor sell-on fees negotiated on future transfers. Players on loan with buy-out clauses were not included.

This study indicates that the most under-paid player in absolute terms with respect to the sums invested in the recent past for footballers with similar characteristics was Anthony Martial by Manchester United (+27.9 million €, not including add-ons), followed by Kevin de Bruyne by Manchester City (+26.6 million €) and Christian Benteke by Liverpool (+19.6 million €).

At the opposite end of the table, the most under-paid players according to the CIES Football Observatory analysis were Raheem Sterling by Manchester City (-32.1 million €), Mapou Yanga-Mbiwa by Olympique Lyonnais (-11.9 million €) and Robin van Persie by Fenerbahçe (-11.4 million €).

More information is available on the CIES Football Observatory website or on request at football.observatory@cies.ch. For a detailed presentation of the methodology used to estimate the transfer value of players, please refer to issue number 6 of the CIES Football Observatory Monthly Report.

In total, big-5 league teams have spent a record figure of 9.3 billion euro to sign current squad members. The gaps between clubs are tremendous: from 587 million for Real Madrid to less than one million for Carpi, Frosinone, GFCO Ajaccio, Rayo Vallecano and Sporting Gijón.

From the perspective of transfer market investments, one would expect that Real Madrid, Manchester City, Paris St-Germain, Bayern Munich and Juventus win the title in their respective leagues. Conversely, at English Premier League level, Bournemouth, Watford and Norwich should face relegation just one year after promotion.

For a detailed analysis of the link between transfer expenditure and success, refer to issue number 3 of the CIES Football Observatory Monthly Report.

Since 2005, the Football Observatory research group within the International Centre for Sports Studies (CIES) has developed pioneering data analysis to understand the logics of success in football. This report unveils the key findings related to the four main dimensions of sustainable squad management: team chemistry, demographic structure, performance analysis and transfer policy.

Professional clubs, football academies and leagues regularly take advantage of the exclusive expertise gathered within the CIES Football Observatory to increase their competitiveness. The innovative research work carried out also has an educational vocation by helping football stakeholders, including media and fans, to develop original thinking on the beautiful game.

Furthermore, the CIES Football Observatory academic team is pleased to disclose its player performance rankings for the five major European championships. The top 15 list per position and league will be updated on a weekly basis throughout the season. To know more about the methodology used, see Monthly Report number 5.

For more information, please contact us at football.observatory@cies.ch.

During last season, the percentage of minutes played by club-trained footballers reached a new record low: 14.3%. In the English Premier League, players who spent at least three years between the ages of 15 and 21 in their employer club never played a fewer percentage of minutes than in 2014/15: 10.2%. The minimal level of minutes played by club-trained footballers was recorded in Italy: 8.5%.

The percentage of minutes played by expatriates is stable at around 46%. However, the percentage of players who grew up in a different country than that of their employer club reached a new record high among the five best ranked teams per league: 59.6%. This percentage was never as high as in 2014/15 in three leagues out of five: England (77.1%), Spain (57.1%) and Germany (53.1%). It is also very high in the Italian Serie A: 71.4%.

The CIES Football Observatory is also proud to be able to present for the first time the probabilities of fee paying transfers for big-5 league players. This was a major achievement of the research work carried out by our academic team during the last year. Many expensive footballers are to be found in the top-100 of this ranking, such as Raheem Sterling, Alexis Sánchez, Antoine Griezmann, Harry Kane and Philippe Coutinho.

More information is available in issue number 115 of the Big-5 Weekly Post (the last before the summer break). The full data is presented in the sixth edition of the CIES Football Observatory Monthly Report. This publication also explains the unique methodology developed by our research team to estimate both transfer values and transfer probabilities of football players.

The clubs per league having the most relied on U21 players are Monaco (34.6%), Valencia (25.5%), Empoli (23.3%), Bayer Leverkusen (23.1%) and Liverpool (19.8%). Conversely, U21 footballers played less than 2% of minutes in 27 teams out of 98, including at Champions League finalists Barcelona and Juventus.

All the data is available in issue number 113 of the CIES Football Observatory Weekly Post.

For more information, please contact us at football.observatory@cies.ch.

At the head of the tables per position are Phil Jones (Manchester United) for centre backs, Layvin Kurzawa (Monaco) for full backs, Marco Verratti (Paris St-Germain) for defensive midfielders, Isco Alarcón (Real Madrid) for attacking midfielders and Felipe Anderson (Lazio) for forwards.

In the top-3 positions of the rankings are not only well known players such as Raphaël Varane (Real Madrid), David Alaba (Bayern Munich) or Paul Pogba (Juventus), but also less renowned talents such as José Giménez (Atlético Madrid), Ricardo Rodríguez (Wolfsburg), Granit Xhaka (Borussia Mönchengladbach), Bernardo Silva (Monaco) and Clinton N’Jie (Lyon).

The rankings are based on the CIES Football Observatory exclusive Key performance indicators in the following areas of the game:

• Shooting: ability to take advantage of goal opportunities through accurate shooting.
• Chance creation: ability to put teammates in a favourable position to strike.
• Take on: ability to create dangerous situations by successfully challenging opponents.
• Distribution: ability to keep a hold on the game through efficient passing.
• Recovery: ability to minimise goal opportunities for opponents through proficient interception work.
• Rigour: ability to minimise goal opportunities for opponents through robust duelling.

The evolution noted for the five major European leagues since 2009/10 reflects a strong increase in the sums invested in transfer fees. While the 98 big-5 league teams spent €6.9 billion to recruit players present in their squad in 2009/10 (€70.4 million per club), this figure increased to €8.6 billion in 2014/15 (€87.7 million per club). In six seasons, the average “cost” of a squad from a transfer expenditure perspective increased by 24.5%.

Between 2009 and 2014, the fees invested in signing squad members increased particularly in the English Premier League: €2.43 to €3.43 billion (€171 million per club). The amount spent by Premier League clubs in comparison with the total for the big-5 leagues went from 35% in 2009/10 to 40% in 2014/15. The explosion of revenues from the sale of TV-rights for the period 2016-2019 will undoubtedly reinforce this process.

The minimum threshold of investments in transfer fees above which it is reasonable to expect a podium finish has strongly increased. At big-5 level, the clubs having ranked in the top three places in the 2009/10 season spent on average €189 million in signing squad members. This figure has never been as high as in the current season: €278 million (+47%). Issue number 103 of the CIES Football Observatory Big-Weekly Post also presents the data by position.

The analysis of the recipients of sums invested by big-5 league clubs in signing squad members shows that the redistributive power of the transfer market is limited. Between 2009/10 and 2014/15, 67% of transfer fees were paid out to other teams participating in the five major European championships. A record figure was incidentally measured for the last two transfer windows: 70.5%.

With a view to equality and a wish to improve competitive balance, it would be therefore useful to consider what reforms are necessary to the transfer system so as to promote solidarity. An efficient measure would be to entitle each team in which a player has passed through to a compensation for each fee paying transfer taking place over the course of the player’s professional career on a pro rata basis to the number of official matches played at the club.

We kindly invite you to read the Report to know more about this proposal.

At league level, current French Ligue 1 clubs generated the most transfer fees for youth academy players (292 million €). At the bottom end of the table is Italian Serie A. This finding reflects the low level of club-trained players in Italian top division clubs (see here).

Fees received by Southampton for the transfer of Adam Lallana, Luke Shaw and Calum Chambers represent almost 40% of the total incomes of current Premier League clubs for the transfer of club-trained footballers during the last three seasons.

Southampton is an outstanding example of how youth training can constitute a key competitive advantage both sportingly and economically even in the richest league of the world.

At the head of the other rankings are Dejan Lovren (Liverpool) for rigour, Walter Gargano (Napoli) for recovery, Xabi Alonso (Bayern Munich) for distribution, Karim Bellarabi (Bayer Leverkusen) for take on and Diego Costa (Chelsea) for shooting.

The following big-5 league rookies are to be found in the top 12 positions for five out of the six areas of play taken into account:

Rigour

• Michael Keane (Burnley)
• Sergi Gómez (Celta de Vigo)
• Emiliano Velázquez (Getafe)
• Jin-Su Kim (Hoffenheim)
• Nicolás Otamendi (Valencia)
• Giancarlo González (Palermo)
• Marcos Rojo (Manchester United)

Recovery

• Wendell Nascimento (Bayer Leverkusen)
• Yeltsin Tejeda (Evian)
• Daley Blind (Manchester United)

Take on

• Sadio Mané (Southampton)
• Lucas Vázquez (Espanyol)

Chance creation

• Valentin Stocker (Hertha Berlin)
• Dušan Tadi? (Southampton)

Shooting

• Luciano Vietto (Villarreal)
• Federico Piovaccari (Eibar)
• Diafra Sakho (West Ham)

Please refer to this paper if you want to know more about the exclusive approach of the CIES Football Observatory for sustainable success.

At the head of the table is Ajax Amsterdam. The Dutch team has trained 77 players employed by the 468 teams of the 31 leagues included in the analysis. At second and third place are Partizan Belgrade (74 players) and Barcelona (57). This data confirms the outstanding know-how of these clubs in the training of youth players.

France is the most represented national association in the top 100 positions of the table: 15 clubs. This is seven more than the second and third most represented countries: Spain and the Netherlands. Conversely, there are no Turkish, Cypriot, Romanian and Norwegian teams in the top 100.

If you want to know more about the European football players’ labour market, you are kindly invited to consult our online Digital Atlas. Thank you for your interest!

Thanks to this analysis we are able to highlight not only well-known players such as Luke Shaw, Raheem Sterling, Romelu Lukaku or Thibaut Courtois, but also footballers not yet taking part in the big-5 leagues but of whom we will surely hear much about in the future such as, among others, Tonny Vilhena, Jetro Willems, Pione Sisto or Georgi Milanov.

The notion of experience capital refers to games played in adult championships up until 23 years of age. We attribute different values to matches according to an exclusive classification method that takes into account the performance of national association representatives in European club competitions, the division of the employer club in the domestic league and results achieved for matches played.

The method of experience capital allows clubs to optimise their approach regarding transfers by considerably reducing the risks inherent in such operations, from both the sporting and economic point of view. Our research team is at the service of clubs interested in finding out more about the practical modalities of implementing a talent spotting system of this kind.

The report also emphasises the crucial role of leagues outside the big-5 in the career development of players. Among footballers aged 23 or over currently under contract with big-5 league clubs, only 12% have always played in teams taking part in the top European championships between the start of the professional career and their 23rd birthday.

Issue number 99 of the Big-5 Weekly Post presents the highest capital experience values for U20, U21, U22 and U23 players for both the five major European championships and the remaining 26 leagues surveyed.

Buy-out clauses or options to buy existed for the five most over-paid players. This certainly helped the seller teams in the negotiations: Villarreal for Gabriel Paulista, Swansea for Wilfried Bony and Fiorentina for Juan Cuadrado.

The top level performances of Bernardo Silva and Ryan Bertrand explain the activation of the option to buy by Monaco, respectively Southampton. However, the current value of these players is well below the price paid.

Monaco and Southampton accepted to over-pay by considering the opportunities of development for the players concerned. This holds also true for Arsenal with regard to the signing of Gabriel Paulista. The three players have indeed the concrete possibility to become pillars of their national A-teams in the near future.

The cases of Wilfried Bony and Juan Cuadrado are different as they are already well established full internationals. They were primarily recruited within the context of the race for the Premier League title.

While Chelsea was also able to transfer other players – André Schürrle and Ryan Bertrand – at a higher price than expected, Manchester City was not able to do so. Chelsea could probably have got more from the permanent move of Fernando Torres. Nevertheless, his permanent move allowed the London club to save money for his salary.

The over-representation of deals between Italian clubs among the most under-paid transfers – Manolo Gabbiadini, Alfred Duncan, Daniele Gastaldello, Luca Antonelli and Gabriel Paletta – reflects the deep economic crisis of professional football in the country.

Fore more information, please contact us at football.observatory@cies.ch

At the top of the rankings per area of the game are José Gímenez (Atlético Madrid) for rigour, Layvin Kurzawa (Monaco) for recovery, Marco Verratti (Paris St-Germain) for distribution, Alex Oxlade-Chamberlain (Arsenal) for take on, Isco Alarcón (Real Madrid) for chance creation and Neymar Júnior (Barcelona) for shooting.

Only two players are in the top 12 positions in three different rankings: Paulo Dybala (Palermo) for take on, chance creation and shooting, as well as Paul Pogba (Juventus) for distribution, take on and shooting. The following players are in the top 12 in two areas of the game:

• José Gímenez (Atlético Madrid)
• Marquinhos Aoás (Paris St-Germain)
• Phil Jones (Manchester United)
• Layvin Kurzawa (Monaco)
• Marc Stendera (Eintracht Frankfurt)
• Marco Verratti (Paris St-Germain)
• Lucas Moura (Paris St-Germain)
• Isco Alarcón (Real Madrid)
• Koke Resurreción (Atlético Madrid)
• Raheem Sterling (Liverpool)
• Nabil Fekir (Olympique Lyonnais)
• Paul-Georges Ntep (Stade Rennais)
• Neymar Júnior (Barcelona)

The full tables are to be found here. More information is available at football.observatory@cies.ch

CIES Football Observatory Key Performance Indicators (KPIs)

• Shooting: ability to take advantage of goal opportunities through accurate shooting
• Chance creation: ability to put teammates in a good position to score
• Take on: ability to create dangerous situations by successfully challenging opponents
• Distribution: ability to keep a hold on the game through efficient passing
• Recovery: ability to minimise goal opportunities for opponents through proficient interception work
• Rigour: ability to minimise goal opportunities for opponents through robust duelling