The 511th CIES Football Observatory Weekly Post analyses the financial results of transfer operations carried out in 2025. In total, clubs around the world invested approximately €14.2 billion, 14% more than the previous record set in 2023. This Post presents the balance sheets for the 121 teams worldwide involved in incoming or outgoing transactions totalling more than €50 million overall. With around €500 million invested and €255 million received (including add-ons and sell-ons), Liverpool tops the rankings in terms of fees generated (€755m). Two other English teams complete the podium: Chelsea (€754m) and, further behind, Manchester City (€556m). In terms of net spending, the most negative balances were also recorded for English clubs: Manchester City (-€369 million), Arsenal (-€366m) and Liverpool (-€245m). In contrast, three French Ligue 1 teams totalled the most positive net spending for transactions completed in 2025: RC Lens (+€113m), Olympique Lyonnais (+€108m) and Monaco (+€95m). In terms of the number of fee-paying transfers, whether for revenue or expenditure, the most active clubs were AC Milan (37 deals), Juventus (33) and Chelsea (32). >>> Full data analysis |
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About the CIES Football Observatory The CIES Football Observatory is a research group created in 2005 within the Swiss-based Centre International d’Étude du Sport (CIES). It specialises in the statistical analysis of football, in particular in the areas of demographics, transfer values and performance (technical, tactical, physical). Click here for more information. About the CIES The International Centre for Sports Studies (CIES) is an independent study centre located in Neuchâtel, Switzerland. It was created in 1995 as a joint venture between the Fédération Internationale de Football Association (FIFA), the University of Neuchâtel, the City and State of Neuchatel. Click here for more information. CIES – Centre International d’Étude du Sport Avenue DuPeyrou 1, 2000 Neuchâtel |
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