In its latest study, the CIES Football Observatory analyses the financial results of the player transfer transactions completed in 2025. In total, clubs worldwide invested approximately €14.2 billion, an amount 14% higher than the previous record set in 2023. With €500 million invested and €255 million collected (including bonuses and sales), Liverpool leads the rankings for generated compensation (€755 million). Two other English teams complete the podium: Chelsea (€754 million) and Manchester City (€556 million). In terms of balance sheets, the most negative balances were also recorded for English clubs: Manchester City (-€369 million), Arsenal (-€366 million), and Liverpool (-€245 million). Eight Premier League teams make up the top 10 of the world's biggest spenders this year. On the other hand, Ligue 1 is establishing itself more than ever as a league exporting its talent, and three teams have the most positive balances for deals concluded in 2025: RC Lens (+€113 million), Olympique Lyonnais (+€108 million), and Monaco (+€95 million). Also in the top 10 are Lille (4th) and Stade de Reims (10th), along with Eintracht Frankfurt, Sporting Lisbon, Aston Villa, Bayer Leverkusen, and Southampton. In terms of the number of transfers with compensation, whether for income or expenditure, the top three are AC Milan (37), Juventus (33), and Chelsea (32).
2025 Transfers: England Buys, France Exports