Ranking the 50 Most…

Here’s an often overlooked truth: not every club in the Premier League has equal financial resources.

Manchester City recently set an English transfer record by signing Enzo Fernández for €145 million from Chelsea, while Brentford recorded total revenues of only €206 million for the last financial year.

With the introduction of the new squad cost ratio (SCR) regulations which cap club spending at 85% of their football-related income plus net transfer profit, financial discrepancies take on new significance for each club in the Premier League.

Therefore, like we did last summer, we will rank this summer’s top 50 most expensive Premier League transfers based on their true cost—essentially, how much of each club’s revenue has been consumed by the reported transfer fee.

These figures are estimates, as the Premier League clubs have only published revenue figures for the 2024-25 season. As such, we rely on Transfermarkt’s data to present the best available information.

As Sunderland and Leeds weren’t in the top flight for the 2024-25 season, their estimates are derived from external reports and club announcements. For the newly promoted teams: Hull City, Coventry City, and Ipswich Town, we used average reported revenues for the 2024-25 season to derive estimates. None of these teams have outsized stadiums or international followings that would grant them a revenue advantage.

Now, let’s dive into the rankings. Here are the most expensive transfers of the summer:

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50. Carlos Baleba, defensive midfield, Brighton & Hove Albion to Manchester United

• Transfer fee: €75.9M
• Percentage of revenue: 9.76%

49. Marco Palestra, right back, Atalanta BC to Chelsea

• Transfer fee: €57M
• Percentage of revenue: 9.96%

48. Daniel Muñoz, right back, Crystal Palace to Nottingham Forest

• Transfer fee: €25.7M
• Percentage of revenue: 10.06%

47. Maxence Lacroix, center back, Crystal Palace to Chelsea

• Transfer fee: €60.7M
• Percentage of revenue: 10.60%

46. Ilyas Ansah, center forward, 1.FC Union Berlin to Hull City

• Transfer fee: €17M
• Percentage of revenue: 10.63%

45. Anan Khalaili, right back, Union Saint-Gilloise to Crystal Palace

• Transfer fee: €24.5M
• Percentage of revenue: 10.67%

44. Zadok Yohanna, right winger, AIK to Brighton & Hove Albion

• Transfer fee: €28M
• Percentage of revenue: 10.81%

43. Bruno Guimarães, central midfield, Newcastle United to Arsenal

• Transfer fee: €87.5M
• Percentage of revenue: 10.86%

42. Merlin Röhl, attacking midfield, SC Freiburg to Everton

• Transfer fee: €25M
• Percentage of revenue: 10.88%

41. Aurèle Amenda, center back, Eintracht Frankfurt to Coventry City

• Transfer fee: €18M
• Percentage of revenue: 11.25%

40. António Silva, center back, SL Benfica to AFC Bournemouth

• Transfer fee: €25M
• Percentage of revenue: 11.66%

39. Álvaro Rodríguez, center forward, Elche CF to AFC Bournemouth

• Transfer fee: €25M
• Percentage of revenue: 11.66%

38. Florentino, defensive midfield, Burnley FC to Ipswich Town

• Transfer fee: €18.7M
• Percentage of revenue: 11.69%

37. Ayyoub Bouaddi, central midfield, LOSC Lille to Manchester City

• Transfer fee: €95M
• Percentage of revenue: 11.69%

The contrasting financial implications of these transfers highlight the stark differences between clubs. For Manchester City, a 12% revenue expenditure on a World Cup standout is a wise investment, while a newly promoted club like Ipswich may find themselves hamstrung by a similar percentage spent on a recently relegated player.

36. Zian Flemming, center forward, Burnley FC to Ipswich Town

• Transfer fee: €19.8M
• Percentage of revenue: 12.38%

35. Abdoul Ouattara, right back, RC Strasbourg Alsace to Ipswich Town

• Transfer fee: €20M
• Percentage of revenue: 12.50%

34. Ibrahim Mbaye, right winger, Paris Saint-Germain to Aston Villa

• Transfer fee: €55M
• Percentage of revenue: 12.75%

33. Bazoumana Touré, left winger, TSG 1899 Hoffenheim to Newcastle United

• Transfer fee: €50M
• Percentage of revenue: 12.80%

32. Nicolas Jackson, center forward, Chelsea to Aston Villa

• Transfer fee: €55.5M
• Percentage of revenue: 12.87%

31. Sávio, left winger, Manchester City to Tottenham Hotspur

• Transfer fee: €87.7M
• Percentage of revenue: 13.31%

30. Shea Charles, defensive midfield, Southampton FC to Fulham

• Transfer fee: €30.4M
• Percentage of revenue: 13.44%

29. Johan Manzambi, attacking midfield, SC Freiburg to Aston Villa

• Transfer fee: €60M
• Percentage of revenue: 13.91%

28. Dayann Methalie, left back, FC Toulouse to Sunderland

• Transfer fee: €28M
• Percentage of revenue: 14.00%

27. Exequiel Palacios, central midfield, Bayer 04 Leverkusen to Ipswich Town

• Transfer fee: €22.5M
• Percentage of revenue: 14.06%

26. Nico González, defensive midfield, Manchester City to Newcastle United

• Transfer fee: €56M
• Percentage of revenue: 14.34%

A cluster of midfielders falls into the 13-14% range in terms of revenue percentage: Gonzalez, Palacios, Manzambi, and Charles.

Shea Charles, just 22 years old, has garnered significant playing time in a spot where young talent often faces skepticism. Johan Manzambi had a sensational breakout season at Freiburg as a teenager but has just one pro season as a starter. Exequiel Palacios is a reliable, albeit inconsistent performer for the Bundesliga champions, while Nico González, at 24, recently started 28 matches under Pep Guardiola.

All these players exhibit real potential alongside certain uncertainties, and their valuations reflect what clubs currently pay for dependable starting midfielders.

25. Loum Tchaouna, right winger, Burnley FC to Coventry City

• Transfer fee: €23M
• Percentage of revenue: 14.38%

24. Konstantinos Tzolakis, goalkeeper, Olympiacos Piraeus to Hull City

• Transfer fee: €23.3M
• Percentage of revenue: 14.56%

23. Nobel Mendy, center back, Rayo Vallecano to Hull City

• Transfer fee: €23.4M
• Percentage of revenue: 14.63%

Out of the promoted teams, Hull has the least representation with only three players on the list. This may be due to their revenue estimates, yet it’s also indicative of their strategic approach. Rather than splurging on one high-profile player, they have opted for a more balanced investment across multiple players.

In terms of net spending this summer—calculated as total fees paid minus fees received—only six Premier League teams, including Real Madrid, posted a larger deficit. The financial landscape is shifting.

22. Abdul Fatawu, right winger, Leicester City to Ipswich Town

• Transfer fee: €23.45M
• Percentage of revenue: 14.66%

21. Malick Fofana, left winger, Olympique Lyon to Sunderland

• Transfer fee: €30M
• Percentage of revenue: 15.00%

20. Mateus Fernandes, central midfield, West Ham United to Tottenham Hotspur

• Transfer fee: €99M
• Percentage of revenue: 15.02%

19. Bradley Barcola, left winger, Paris Saint-Germain to Liverpool

• Transfer fee: €125M
• Percentage of revenue: 15.25%

This transfer illustrates two key aspects: one, the escalating revenue of Premier League clubs, and two, the risks involved in such high-value signings. Barcola’s transfer is now the fifth-most expensive in league history and the most significant acquisition in Ligue 1.

To put it into context, a decade ago, a transfer of similar revenue percentage would have cost around €60 million. When compared to Liverpool’s previous acquisitions, it’s evident that inflation in player values is profoundly affecting the market.

Yet therein lies the dilemma—navigating the uncertainties of such high-stakes investments. Barcola has shown flashes of brilliance, but his transition to a new league presents inherent risks as posed by past Premier League signings.

18. Sidiki Cherif, center forward, Fenerbahce to Coventry City

• Transfer fee: €24.5M
• Percentage of revenue: 15.31%

17. Matias Fernandez-Pardo, center forward, LOSC Lille to Newcastle United

• Transfer fee: €60M
• Percentage of revenue: 15.36%

16. Ousmane Diomande, center back, Sporting CP to Nottingham Forest

• Transfer fee: €40.00M
• Percentage of revenue: 15.66%

15. Carl Rushworth, goalkeeper, Brighton & Hove Albion to Coventry City

• Transfer fee: €25.7M
• Percentage of revenue: 16.06%

14. Sandro Tonali, defensive midfield, Newcastle United to Tottenham Hotspur

• Transfer fee: €108M
• Percentage of revenue: 16.39%

13. Tarik Muharemovic, center back, Sassuolo to Leeds United

• Transfer fee: €37M
• Percentage of revenue: 16.44%

12. Elliot Anderson, central midfield, Nottingham Forest to Manchester City

• Transfer fee: €135M
• Percentage of revenue: 16.61%

11. Caleb Yirenkyi, central midfield, FC Nordsjaelland to Coventry City

• Transfer fee: €27M
• Percentage of revenue: 16.88%

A remarkable fact is that Coventry players constitute 10% of this list, reflecting the club’s extensive investment strategy, especially for an outfit that was considered a relegation candidate this season.

10. Emersonn, center forward, FC Toulouse to Ipswich Town

• Transfer fee: €28M
• Percentage of revenue: 17.50%

9. Gonzalo García, center forward, Real Madrid to Fulham

• Transfer fee: €40M
• Percentage of revenue: 17.68%

8. Enzo Fernández, central midfield, Chelsea to Manchester City

• Transfer fee: €145M
• Percentage of revenue: 17.84%

7. Julio Enciso, attacking midfield, RC Strasbourg Alsace to Ipswich Town

• Transfer fee: €30.5M
• Percentage of revenue: 19.06%

Interestingly, Ipswich Town leads in player acquisitions, boasting seven players within the top 50. Their summer spending reflects their serious ambition, marking a hefty net-spend deficit alongside teams like Liverpool and Tottenham. This investment has the potential to pay off, as seen with last season’s spending that helped Sunderland avoid relegation.

6. El Hadji Malick Diouf, left back, West Ham United to Brentford

• Transfer fee: €40.8M
• Percentage of revenue: 19.99%

5. Liam Delap, center forward, Chelsea to Nottingham Forest

• Transfer fee: €52.5M
• Percentage of revenue: 20.56%

Can clubs really go wrong with young talent? Chelsea’s investment in Delap—who initially showed promise at Ipswich—highlights the fluctuating value of potential and performance. Despite underwhelming results in a challenging season, his perceived value has still surged by €17 million.

4. James Trafford, goalkeeper, Manchester City to Leeds United

• Transfer fee: €46.7M
• Percentage of revenue: 20.76%

3. Luka Vuskovic, center back, Tottenham Hotspur to Brighton & Hove Albion

• Transfer fee: €54M
• Percentage of revenue: 20.86%

Brighton’s record transfer for Vuskovic indicates the club’s confidence in his potential as he takes over from Jan Paul van Hecke. The strategic spending—backed by data-driven decisions—suggests Brighton believes Vuskovic could be a future star in their defensive lineup.

2. Mamadou Sangare, central midfield, RC Lens to Brentford

• Transfer fee: €48M
• Percentage of revenue: 23.52%

Already a standout player, Sangare’s stats reveal an impressive range of on-ball actions, positioning him as a dynamic force for Brentford. His metrics suggest he’s redefining the functions of a midfielder, indicating a shift in how pivotal midfield roles are cultivated and valued by successful clubs.

1. Morgan Rogers, attacking midfield, Aston Villa to Chelsea

• Transfer fee: €138M
• Percentage of revenue: 24.10%

The question looms large: is Chelsea capable of sustaining such extravagant spending? Rogers has already shown promise in the initial outings, maintaining impressive metrics. Yet, Chelsea’s unique profile as a side yielding significant xG while holding minimal possession complicates the narrative, raising questions about their tactical efficacy moving forward.