Football’s biggest spenders in last decade with Man Utd top and Liverpool low in list

Manchester United have a gigantic net spend since 2015, having splashed money on a whole host of underwhelming signings, in contrast to Liverpool who have been more considered

Manchester United have the highest net spend of any club in the world over the past 10 years – but have just five major trophies to show for it.

United have chased success in the transfer market in the last decade, splashing huge fees on players in the hope it will bring back the glory of the Sir Alex Ferguson era. Silverware has come, with two FA Cups, two Carabao Cups and a Europa League during that period, but consistency has been lacking.

The most recent summer transfer window is a good example of United’s pattern. They splashed out £200million on Leny Yoro, Joshua Zirkzee, Matthijs de Ligt, Noussair Masraoui and Manuel Ugarte, but currently sit 13th in the Premier League after sacking Erik ten Hag.

Ten Hag lasted two and a half years in the role and was armed with £600m of new players – many who had played for him at Ajax – but he wasn’t able to provide much return on that investment. Sir Jim Ratcliffe and his INEOS team are determined to change tack, and have reportedly told Ruben Amorim that he will have a much more modest budget.

They might be shutting the gate after the horse has bolted, with research from CIES Football Observatory showing just how much United have been underperforming in recent years. United have a staggering net spend of €1.3billion (£1.08bn) since 2015, more than any other club.

A look over their current squad reveals a litany of expensive players – from Harry Maguire (£80m) in defence, through Casemiro (£60m) and Mason Mount (£55m) in midfield to Antony (£86m) and Rasmus Hojlund (£72m) in attack.

Remarkably, United’s net spend is even greater than Chelsea ’s. The Blues have actually spent a great deal more – €2.78bn to United’s €1.95bn – but they have balanced the books better through sales. It means that Chelsea’s net spend over the last decade is €1.2bn (£1.07bn), with the likes of Enzo Fernandez (£106m) and Moises Caicedo (£115m) topping the charts in the Todd Boehly era.

Paris Saint-Germain come in third place at €991m (£825m), thanks to the purchases of Lionel Messi, Neymar and Sergio Ramos – and the fact they lost their prize asset, Kylian Mbappe, for nothing to Real Madrid in the summer.

Arsenal are fourth, ahead of rivals Tottenham, having racked up a net spend of €795m (£661m) – more than Spurs’ €711m (£591m). The Gunners haven’t been afraid of paying big to land key players like Declan Rice (£105m) and Kai Havertz (£65m), while Tottenham splashed £65m on Dominic Solanke this summer.

It means they come ahead of reigning Premier League champions Manchester City, AC Milan, Newcastle, Barcelona and Al-Hilal, who round off the top 10. Liverpool are 17th on the list with a net spend of €366m (£304m) in the last decade, which sees them fall below the likes of Bournemouth (£318m), Aston Villa (£433m) and West Ham (£456m).

Unsurprisingly, the Premier League is miles ahead of other leagues in terms of spending. Premier League clubs have a combined spend of €23.02bn (£19.18bn) over the last decade, over double the next nearest, Italy’s Serie A at €10.84bn (£9.03bn). Portugal’s top flight is the best exporter of players, with a positive net spend of €2.34bn (£1.95bn) over the past decade.

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