Atalanta and Roma lead Serie A for adding value to signings, Fiorentina at the bottom

Atalanta and Roma are the Serie A clubs that have added the most value to their signings over the past five years, while Fiorentina are the current top flight club to have lost money, according to the CIES Football Observatory.

The Swiss-based research group ranked 251 clubs worldwide by the change in value of non-academy players signed since 2022. It compares the fees paid with the fees received for players who have since left, and with the current market value of those still at the club.

Atalanta are the best Italian side and 10th in the world, with a gain of €354m. Roma are joint 13th on €323m, almost all of it (€291m) from players still under contract. Udinese (€252m), Bologna and Inter (both €236m) complete the Italian top five.

At the other end, Fiorentina are 236th, with an overall loss of €27m. They are down €51m on players they have already sold, despite €569m spent and received in transfers. Cremonese (-€25m) and Palermo (-€17m) are the only other Italian clubs in the red.

Milan’s record is also poor given how much they spend. They had the highest transfer volume of any Italian club, at €986m, but their total gain is just €69m (123rd). Their current signings are worth €20m less than Milan paid for them.

Napoli are 63rd on €128m, while Juventus are €85m down on players already sold.

Atalanta: +€354m Roma: +€323m Udinese: +€252m Bologna: +€236m Inter: +€236m Parma: +€180m Genoa: +€171m Lecce: +€160m Como: +€158m Lazio: +€147m Juventus: +€145m Cagliari: +€142m Hellas Verona: +€138m Napoli: +€128m Venezia: +€111m Torino: +€73m Milan: +€69m Sassuolo: +€66m Frosinone: +€57m Empoli: +€37m Monza: +€15m Pisa: +€6m Palermo: -€17m Cremonese: -€25m Fiorentina: -€27m