Being a billionaire in the footballing world often sees club owners “buy all of the things they never had”, as Bruno Mars once famously put it. That includes Liverpool, who broke their club transfer record in the summer of 2025 by signing one of football’s best strikers, Alexander Isak.

The Reds were typically one of the lowest-spending ‘big six’ clubs, often sitting back and watching their rivals overspend on signings that didn’t quite meet the bill. That was the case for Manchester United when they spent £73m on Jadon Sancho back in the summer of 2021, one of the biggest flops in the club’s history.

United are paying the price for poor recruitment decisions in recent years, which have put them among the top 10 highest spenders in football history. Their arch-rivals are now also surging up the rich list.

But they are two of 10 Premier League clubs that feature in a 25-club list of football’s biggest spenders. Who sits on top?

25-11

Arsenal among five English clubs

Arsenal have made several big-money signings over the years, trying to become Premier League champions for the first time since 2004. Arsene Wenger had assembled a group of Invincibles at that time, including Thierry Henry, who cost a then club-record £11m.

The Gunners will be hoping new signing Viktor Gyokeres can follow in the footsteps of their all-time top scorer, Henry. The Swedish frontman arrived this summer in a £64m deal, taking overall spending in the club’s history to £2.03 billion (€2.34 billion), which sees them rank 12th.

The North Londoners are joined just outside the top 10 by Serie A giants AC Milan, who are 11th, having spent £2.07 billion (€2.38 billion). The talent that emerges from their youth system means their record signing is Rafael Leao at a reasonable fee of around €35 million (£32m).

One of football’s biggest letdowns has been Joao Felix’s struggles at Atletico Madrid, despite being the fifth-most expensive signing in world football. The Portuguese attacker cost £113m, which plays a significant role in their 13th-place ranking, with total expenditure of £1.84 billion (€2.12 billion).

AS Roma are below them, having splashed out £1.73 billion (€1.99 billion), and perhaps surprisingly. The richest club in the world, Newcastle United, continues to move up the leaderboard, but the Magpies weren’t among the top spenders before their Saudi-led takeover in 2021. Their cash injection has seen them reach £1.58 billion (€1.82 billion) on names such as Alexander Isak (£60m) and, most recently, Anthony Elanga (£55m)

Bayern Munich might surprise some by not making the top 10. That might be due to the Bavarians often spending within the Bundesliga, although Harry Kane’s £82m arrival from Tottenham Hotspur in 2023 adds to an overall outlay of £1.57 billion (€1.81 billion).

Back to Italy for one of their perennial wheeler-dealers, Aurelio De Laurentiis, whose Napoli have spent £1.45 billion (€1.67 billion). That includes bargain buy Scott McTominay, who arrived from Manchester United for £25m.

The Premier League is represented thrice in a row, and West Ham United haven’t been afraid to spend big in recent years, either, although only five of their 10 most expensive signings remain at the London Stadium. They paid a club-record £45m for Sebastian Haller, who spent just two years with the Hammers, bringing their expenditure to £1.42 billion (€1.64 billion).

Unai Emery has found success guiding Villa into the Champions League, and remaining among England’s elite has cost a pretty penny. The Villans have hit the £1.34 billion (€1.54 billion) mark on the likes of Amadou Onana (£50m) and Ollie Watkins (£28m), although they did sell Jack Grealish for £100m.

David Moyes’ Everton are 20th, having spent £1.23 billion (€1.42 billion), and that will continue to rise following the Friedkin Group’s recent takeover.

Others who make the top 25 spending list include French outfit AS Monaco in 21st, who are also on £1.23 billion (€1.42 billion). Borussia Dortmund sit 22nd, having paid out £1.21 billion (€1.40 billion).

Lazio have fallen off in recent years, but are 23rd after spending £1.1 billion (€1.27 billion), while Fiorentina sit 24th, at £1.08 billion (€1.25 billion), and Olympique Marseille of France comes 25th, with a spending total of£1.05 billion (€1.21 billion).

10: Tottenham Hotspur

Premier League

While Tottenham Hotspur fans protest against the now-former chairman Daniel Levy’s ownership of the club, they can’t argue that the chairman hasn’t spent big. Their issues stem from a perceived decline in sporting performance rather than finances, and he has proven to be an excellent businessman.

Levy has put his money where his mouth is over the years, including in the summer of 2024 when he spent a club-record £65m on Dominic Solanke. It’s his work in securing big fees for prized possessions that has helped the club grow financially amid their stadium move.

The North Londoners are above rivals Arsenal, having spent £2.12 billion (€2.44 billion), slightly more than the Gunners. They have unearthed gems such as Gareth Bale, who arrived in 2007 for an initial £5m and was sold to Real Madrid for a then-world record £85.3m in September 2013.

Perhaps keeping such talent would have helped Spurs turn the tide in North London and be in a better position to challenge for major honours.

9: Inter Milan

Serie A

Inter Milan rarely get it wrong in the transfer market and have recently made veteran signings for low prices that have fit the Nerazzuri side seamlessly. But they are also prepared to spend the big bucks on top talent, such as the club-record £74m they paid Manchester United for Romelu Lukaku in 2019.

The Italians have spent an overall £2.3 billion (€2.64 billion) in their history, with more hits than misses, as most have sold for higher prices. They continue to dip into the market, although with a clever approach, and the fact that Nico Barella is the only one of their current squad in their all-time most expensive players list is telling.

8: Liverpool

Premier League

Virgil van Dijk told Liverpool fans to expect a “big” summer after signing a new deal, and he wasn’t lying. The reigning Premier League champions were relatively quiet last year, but have ascended to the top 10 of this list due to their remarkable spending, which appears to be far from over.

Wirtz has become the Reds’ club-record signing while Hugo Ekitike (initially £69m), Milos Kerkez (£40m) and Jeremie Frimpong (£30m) have enthused the Kop faithful. After they pulled off the £130 million Premier League record-breaking signing of Alexander Isak from Newcastle, their overall spending stands at £2.33 billion (€2.68 billion).

7: Paris Saint-Germain

Ligue 1

Nasser Al-Khelaifi appears to have learned his lesson after years spent lavishing money on superstar names rather than building a cohesive Paris Saint-Germain side. The Parisians’ president paid a world-record £190m fee for Neymar in the summer of 2017, one of many costly risks taken before last year.

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Luis Enrique’s appointment, combined with improved planning on the recruitment front, has led to the French giants finally becoming European champions. They have paid a hefty price along the way, though, reaching an overall expenditure of £2.39 billion (€2.75 billion), which will likely only increase from their Champions League earnings.

6: Barcelona

La Liga

Barcelona were unable to afford a new contract for Lionel Messi in the summer of 2021 and that came down to the Spanish giants’ poor financial situation after hapless spending over the years. Two deals that left Catalan president Joan Laporta looking foolish were those of Antoine Griezmann (£108m) and Philippe Coutinho (£142m).

That’s not to say that the Blaugrana haven’t found success when spending, you just need look at Robert Lewandowski (£42.5m), who has fired them to two La Liga titles. They have parted with an overall fee of £2.45 billion (€2.82 billion), quite a sum given thatmost of their world-class talent is discovered in their renowned La Masia academy.

5: Real Madrid

La Liga

The tussle for Spanish superiority often sees Barca collide with rivals Real Madrid and the two El Clasico foes build their squads in contrasting fashion. While the Catalans often turn to their youth academy, Florentino Perez is constantly reaching into his wallet to bring the very best in the world to the Santiago Bernabeu.

Madrid have broken the world transfer record more than any other club, first on Luis Figo (£37m), then on Zinedine Zidane (£46.6m), later on Cristiano Ronaldo (£80m) and finally on Gareth Bale (£85.3m). It has seen Los Blancos become Spanish football’s highest spenders, at a whopping £2.5 billion (€2.92 billion).

4: Manchester United

Premier League

There was a time when Manchester United’s spending was never questioned as the club’s scouts found Sir Alex Ferguson talent from around Europe and within England. However, the Glazer family’s debt-ridden ownership in the post-Ferguson era has led to excessive spending on commercial assets or panic buys rather than necessary acquisitions.

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Some of those include the £85m spent on Antony in the summer of 2022 when their recruitment team had reportedly initially valued the Brazilian at £25m. Mistakes such as that have left a large dent in the Red Devils’ finances, which, in part, contribute to a £2.71 billion (€3.12 billion) expenditure.

3: Juventus

Serie A

Juventus is Italian football’s highest-spending club of all time, having spent a total of €3.20 billion (£3.1 billion) in its history. That is thanks in part to their two most expensive deals, first paying Napoli £75.3m for Gonzalo Higuain, who became the most expensive South American player in the world at the time.

The Old Lady weren’t done there though as they pounced for Cristiano Ronaldo from Real Madrid two years later in a £99.2m deal. They played important roles in major trophies arriving at the Allianz Stadium, but burned into the Serie A heavyweights’ bank balance.

2: Manchester City

Premier League

The blue moon has well and truly risen since Abu Dhabi United Group’s takeover of Manchester City in 2008, with the Cityzens laughing to the bank and dominating the Premier League. There is no denying that this has helped Pep Guardiola at the Etihad, with the Spaniard spending around £1.93 billion (€2.21 billion).

That has contributed towards City’s second-placing on the list and a total expenditure of €3.39 billion (£2.95 billion), and for the most part, it’s been money well spent. Their club-record purchase of Jack Grealish at £100m does leave much to be admired, but the £54.5m they paid for Kevin De Bruyne was an overwhelming success.

City is still spending despite the threat of 115 charges hanging over them, including in the January transfer window. Antoine Semenyo (£65 million) and Marc Guehi (£20 million) have become the latest to arrive at the Etihad.

1: Chelsea

Premier League

Who else but Chelsea who hold the record for the all-time most expensive transfer window when they forked out a jaw-dropping £389m in the summer of 2023. It took Todd Boehly and Co. time to get their recruitment right, having watched the likes of Raheem Sterling (£47.5m), Mykhaylo Mudryk (initially £62m) and Joao Felix (£46.3m) flop.

The Blues broke the British transfer record twice in a matter of months, bringing Enzo Fernandez (£106m) and Moises Caicedo (£115m) to Stamford Bridge. They are now starring in Enzo Maresca’s team alongside Cole Palmer, a spectacular £40m acquisition.

Seeing West London’s hierarchy pay astronomical prices is nothing new for the club’s fanbase. Roman Abramovich was almost addicted to breaking transfer records, and he, along with the current regime, contributed to an all-time world record of £3.74 billion (€4.30 billion).

Expenditure figures courtesy of Transfermarkt while player transfer fees from various sources – correct as of 20/01/2026