In numbers: Manchester United the worst in the transfer window, with Real Madrid runner-up
The Red Devils have suffered heavy losses
Manchester United have managed the transfer market worse than any other European club over the past five years, according to the CIES Football Observatory, part of the International Centre for Sports Studies. Their losses total 334 million pounds. Only Saudi Arabia's Al Hilal rank above them in the overall standings.
The study weighed up the fees clubs paid to sign players against the money they recouped from selling them, factoring in the changing market value of those still on the books, according to British newspaper "Daily Mail".
Two figures tell United's story. They lost around 156 million pounds on net player sales, then watched the market value of their squad drop by a further 184 million pounds.
Several deals lay bare the scale of the damage. United signed Antony from Ajax for 85 million pounds, then shipped him to Real Betis for just 21.7 million. They paid 73 million for Jadon Sancho and collected nothing when he left. Rasmus Højlund went to Napoli at a 34 million pound loss.
INEOS, owned by Sir Jim Ratcliffe, took over football operations in 2024 and set about stemming the losses. Even so, the study captures years of accumulated damage in the transfer market.
Tottenham's struggle
United were not the only English club in the red. Tottenham ranked among the worst, their overall value falling by around 157 million pounds to leave them fourth from the bottom of the list.
At the other end, Eintracht Frankfurt topped the list with a rise in value of 441 million pounds. Real Madrid followed on 440 million, then Paris Saint-Germain on 394 million. Bournemouth, Brighton and Brentford also posted gains of 292 million, 271 million and 253 million pounds respectively.
Chelsea's value climbed by around 179 million pounds despite their huge outlay, while Manchester City recorded a rise of 374 million. Liverpool came close to breaking even with an increase of 13 million pounds.
The numbers expose the gulf between clubs who buy the right players, control their costs and protect the value of their squads, and those who do not. On every count, Manchester United remain among the latter.
