| Updated: July 24, 2025The rumour mill in European football is currently in full swing. Every few hours brings new updates or breaking news involving top clubs and their transfer targets. With nearly 50 days left until the close of the 2025 summer window, Sportingpedia examined which clubs have adopted the most aggressive strategies so far – both in terms of total expenditure and revenue generated. Based on confirmed deals through 23 July, the data reveals familiar financial trends, along with a few notable outliers.
One of the report’s most intriguing findings is that Chelsea is the only club to appear in both the top 10 for spending and for income. The Blues from London are second in spending with €243.77 million and are third in revenue. Another curious revelation is that Liverpool’s spending spree has already surpassed €300 million, more than Manchester United and City combined.
The highest spending clubs
in the 2025 summer transfer window so far
Data Source: Transfermarkt
Among the 10 highest-spending teams so far, 7 come from the English Premier League. Chelsea (€243.77M) and Liverpool (€213.68M) lead the list, each already surpassing the €200M mark and still expected to add more players before the window closes. Real Madrid (€167.50M) are the top non-English spender, followed by Manchester United, Manchester City, Arsenal, and Tottenham – all clustered within a tight range between €140M and €153M. Sunderland’s appearance with €115.90M signals one of the most surprising developments of the summer, reflecting bold intent following their top-flight return.
Only three non-English clubs make the list: Both Madrid giants – Real and Atletico – represent La Liga, with the latter spending €123M, while Italian giants Juventus round out the top 10 with €105.9M invested in new players. Their inclusion maintains Serie A’s presence in the transfer market, although activity appears more measured than in previous summers.
Across the top 10, total spending has already exceeded €1.65 billion. The Premier League accounts for 70% of the clubs and 75% of the outlay, reinforcing the league’s position as the primary financial force in world football. Notably, some of the largest individual moves include Liverpool’s dual acquisition of Florian Wirtz and Jeremie Frimpong from Bayer Leverkusen (combined €165M) and Hugo Ekitike’s arrival from Eintracht. Chelsea invested in Joao Pedro and Jamie Bynoe-Gittens, each around €65M and are expected to catch Liverpool with the awaited addition of Xavi Simons from RB Leipzig.
Clubs generating the highest income
in the 2025 summer transfer window so far
Data Source: Transfermarkt
In the income rankings, the landscape is more diverse. Bayer Leverkusen top the list with €190.50M, by far the highest figure to date, built almost entirely on the transfers of Florian Wirtz and Jeremie Frimpong to Liverpool. The 2024 unbeaten Bundesliga champions are the only German side in either top 10 but have outpaced all rivals through the sale of just two key players. Another Bundesliga side, Eintracht Frankfurt, rose to 7th spot in the rankings after finalising Hugo Ekitike’s €95 million transfer to Liverpool.
Six of the 10 highest-earning clubs are from the Premier League: Bournemouth (€123.96M), Chelsea (€121.48M), Wolverhampton, Nottingham Forest, Brighton, and Brentford. All have sold multiple players to Champions League contenders, often at premium valuations. For example, Bournemouth sent Milos Kerkez to Liverpool and Dean Huijsen to Real Madrid for a combined €106.7M, while Nottingham Forest offloaded Anthony Elanga and Morgan Gibbs-White to Newcastle and Tottenham respectively.
Serie A is represented by Atalanta (€104.05M), and Milan (€98.80M), continuing Italy’s tradition of exporting top talent. Atalanta’s main income came through Mateo Retegui’s sale to Al Quadsiah, while Milan sent Tijjani Reijnders to Manchester City.
Importantly, only Chelsea appears in both the top 10 expenditure and income lists, pointing to a high-volume rebuild in progress. The Blues’ €243.77M spend is offset by over €121M in outgoings, making them both one of the biggest investors and one of the most active sellers.