The 533rd CIES Football Observatory Weekly Post ranks teams worldwide according to the financial results of the transfer operations completed over the current season (last two windows) and over the last five years respectively (last ten windows). Regarding the two transfer periods related to the 2025/2026 season, the most negative balance was recorded for current Premier League leaders Arsenal (-€362 million).
While the Gunners' financial efforts have so far paid off, those of the second team with the most negative balance sheet, Liverpool (-€244 million), have been much less successful. The same observation, at least in terms of domestic league results, can be made for the two teams with the most negative net spending over the last ten transfer windows: Chelsea (-€883 m) and Manchester United (-€859 m).
At the other end of the scale, the teams with the most positive balances are Monaco for the current season (+€148 million) and Benfica for the last five years (+€346 m). Over this period, the Portuguese club is ahead of LOSC Lille (+€273 m), AFC Ajax (+€270 m) and RB Salzburg (+€242 m). All the figures presented in the study include add-ons irrespective of their actual payment, as well as sell-ons.
Financial results of the most active clubs on the transfer market
€ million, including add-ons and sell-ons