September 17 – Chelsea have underlined their reputation as the game’s biggest spenders after being named the club with the most expensive squad in world football in a ranking by the CIES Football Observatory.
The figures show the Club World Cup champions have committed €1.314 billion in transfer fees, including add-ons, to put together their current first team. The outlay includes the €134 million signing of Moisés Caicedo (pictured), which remains the most expensive individual deal in the club’s history and accounts for around 10% of the total.
The blues were busy again this summer, recording another heavy session of spending but also marking an impressive collection of sales, too. New additions to the squad include Joao Pedro (€63m), Jamie Gittens (€56 million), Alejandro Garnacho (€46 million) and Jorrel Hato (€44 million), amongst a roster of others.
The scale of investment leaves Chelsea ahead of Manchester City (€1.128 billion) and Manchester United (€1.071 billion) at the top of the global list. Liverpool (€1.065 billion) and Arsenal (€1.001 billion) complete an all-English top five – underlining once again the dominance of Premier League clubs in the transfer market.
Both Liverpool and Arsenal invested heavily in improvements this summer – particularly the league champions who broke the British transfer record twice with the signings of Florian Wirtz for €125 million and Alexander Isak for €145 million two months later.
Paris Saint-Germain are the biggest spenders outside England, with €873 million committed to their current squad, just ahead of Real Madrid.
The biggest spenders outside of Europe predictably hail from Saudi Arabia. Al Hilal top that list with €451 million, despite the €90 million acquisition of Neymar not counting as he now plays for Santos in Brazil.
The analysis also highlights how quickly transfer spending is climbing. Compared with the same point last year, the combined investment of the top ten clubs has risen 15% – from €8.44 billion to €9.67 billion – while the figure for the top 100 clubs is up 12%, from €26.23 billion to €29.42 billion. That surge is directly credited to record levels of transfer activity in 2025 by CIES.
For Chelsea, the numbers are further evidence of the club’s determination to rebuild through aggressive spending on young talent. Of their new acquisitions, 23-year-old Joao Pedro is the oldest. The real test, though, will be whether such vast and scattered investment can translate into long-term success on the pitch.
To see the full ranking, click here.
Contact the writer of this story, Harry Ewing, at moc.l1758107781labto1758107781ofdlr1758107781owedi1758107781sni@g1758107781niwe.1758107781yrrah1758107781