CREDIT: CIES FOOTBALL OBSERVATORY
The CIES Football Observatory has revealed its latest study ranking the 100 clubs worldwide that have committed the most money in transfer fees (including add-ons) to recruit their current first-team squads.
Unsurprisingly, Premier League clubs dominate the list, with Chelsea leading the way.
The Global Rankings: Chelsea Outspends All
- Chelsea: €1,314m total squad investment
- Includes €134m for Moisés Caicedo (10% of the squad spend)
- Manchester City: €1,128m
- Manchester United: €1,071m
- Liverpool: €1,065m
- Arsenal: €1,001m
No club outside England has crossed the €1bn mark, with Paris Saint-Germain (€873m) leading the non-English contingent, just ahead of Real Madrid.
In terms of non-European representation, Al-Hilal (Saudi Arabia) ranks highest with €451m, placing 19th overall.
Record Growth in Spending
Compared to 2024, transfer spending continues to rise:
- Top 10 clubs: +15% (from €8.44bn → €9.67bn)
- Top 100 clubs: +12% (from €26.23bn → €29.42bn)
This growth reflects the record-breaking transfer market of 2025, with escalating fees reshaping the economics of the game.
Beyond the Top Tier
The study also highlights notable investments from outside the traditional elite:
- River Plate (Argentina): €110m
- Palmeiras (Brazil): €31m
- Atlanta United (USA): €74m
- Al-Qadsiah (Saudi Arabia): €69m
- CF América (Mexico): €72m
European mid-tier clubs like Ajax (€133m), Feyenoord (€124m), and Sevilla (€84m) show continued commitment to squad building despite their smaller budgets.
What This Means for Football
The report underscores three clear trends:
- Premier League supremacy – English clubs have turned financial power into unmatched squad value.
- Saudi expansion – Al-Hilal and Al-Qadsiah highlight Saudi Arabia’s growing ambition to compete with Europe.
- Globalization of spending – From Mexico to Brazil, investment in players is no longer concentrated in Europe’s “Big Five” leagues alone.
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