The 408th CIES Football Observatory Weekly Post presents the net spending (including add-ons) for transfers concluded over the last five seasons by the 100 clubs with the highest volume of trade. Chelsea has the most negative balance with a deficit of €749m, of which a record €620m during the current season, ahead of Manchester United (-€670m) and Arsenal (-€544m). Ninth-placed Juventus has the biggest deficit among non-English clubs (-€337m). Benfica tops the list of positive balances with net revenues of €369m, including €157m in the current season, notably thanks to the record transfer of Enzo Fernández to Chelsea.
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