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How much money is getting involved in football transfer market globally?
Big-5 Leagues dominating the market share
Clubs from Europe's Big-5 leagues (Premier League, La Liga, Serie A, Bundesliga, Ligue 1) continue to dominate global transfer outlays. In most seasons over the past decade, their share remained at or above two-thirds of total spending. However, a slight decline in their proportional activity during 2023 and 2024 is attributed to the financial firepower emerging from the Saudi Pro League and tightened budgets in La Liga.
Percentage of Europe's Big-5 league clubs' investments from 2015 to 2024:
Year Big-5 League Investment Share (%)
2015 73.40%
2016 67.10%
2017 72.80%
2018 71.80%
2019 69.40%
2020 72.30%
2021 68.10%
2022 71.40%
2023 65.20%
2024 62.50%
League-by-League Investment Insights
England's Premier League leads the pack with a staggering €23.02 bn invested, accounting for 28.1% of total global expenditures.
Next in line is Serie A with €10.84 bn, followed by the other three major European leagues, each contributing between €7–8 bn.
Outside Europe's elite five, the English Championship tops non-Big-5 league spending at €2.55 bn, trailed by the Saudi Pro League at €2.09 bn.
Transfer fees spent worldwide, including add-ons from 2015 to 2024:
Year Fixed Fees (€ bn) Add-ons (€ bn) Total (€ bn)
2015 € 3.71 € 2.18 € 5.88
2016 € 4.25 € 2.61 € 6.86
2017 € 5.51 € 3.55 € 9.06
2018 € 5.61 € 2.71 € 8.32
2019 € 6.46 € 3.53 € 9.99
2020 € 5.01 € 2.50 € 7.51
2021 € 4.11 € 1.88 € 5.99
2022 € 6.20 € 3.13 € 9.34
2023 € 8.82 € 3.42 € 12.24
2024 € 7.33 € 3.63 € 10.96
Net Transfer Spending: Winners vs Losers
Net balances (transfer income minus expenditure) paint a stark contrast:
The Portuguese Primeira Liga boasts the best net balance at +€2.34 bn, mainly due to high-margin player sales.
In contrast, the Premier League shows the most negative net position at –€11.54 bn.
The English Championship follows with a positive €1.50 bn net surplus. Meanwhile, the Saudi Pro League ranks among the largest net spenders, with –€1.81 bn.
Club-Level Insights: Expenditure & net Returns
Top Spenders of the Decade
Chelsea leads all clubs in total spending, committing an eye-watering €2.78 bn over ten years, 42% more than closest rivals Manchester City and Manchester United.
The Net Spend Deficit Leaders
When factoring in transfer income:
Manchester United holds the worst net record with –€1.304 bn. Chelsea isn't far behind (–€1.209 bn), and Paris Saint-Germain also features prominently with –€991 m. Of the top 20 net spenders, 14 are English clubs. Notably, Real Madrid ranks only 25th with a net deficit of –€304 m.
Clubs with Positive Net Transfers
Several clubs outside Europe's top five leagues shine on transfer profits: SL Benfica tops the list with +€816 m over the decade. Other standout positive performers include Ajax (+€473 m) and RB Salzburg (+€401 m). Among Big-5 league clubs, LOSC Lille recorded the highest surplus at +€391 m.
Year-by-Year trade outcomes
Manchester United consistently ended each year with a negative net spend, crossing the –€100 m threshold seven times, peaking at €234 m in 2022. By contrast, Benfica posted positive net income in nine of the ten years, with four seasons seeing surpluses above €100 m, most notably €161 m in 2019, bolstered by the high-value João Félix transfer to Atlético Madrid.
Although global transfer activity declined slightly in 2024, the intensity remained high at €10.96 bn, making it the second largest year on record. Domestic transfers also hit record levels, indicating both scale and depth in club investment.
Over the past decade, the Premier League has clearly driven transfer market momentum, capturing 28% of global activity, a dominance that becomes even starker when considered alongside the collective force of Europe's Big-5 leagues.
At club level, Chelsea stands out for its spending prowess, while Manchester United's massive net loss serves as a cautionary tale. On the flip side, clubs like Benfica, Ajax, and RB Salzburg highlight the profit potential available through smart market management.
From league-wide commitments to individual club strategies, this decade's transfer data underscores the evolving balance between ambition, financial discipline, and return on investment in the global football economy.
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