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Towards the end of the last decade, up until the Covid-19 pandemic, we had started getting used to seeing inflated rates in the transfer market. Our fast-evolving world has opened up a multitude of revenue streams for clubs. As a result, the financial clout of top European clubs have grown exponentially.
Clubs had begun to start spending heavily in the transfer market. Teams in the Premier League, thanks to their universal reach, have been fortunate to cash in across multiple avenues to increase their income.
Even 10 years back, €70 million was seen as a huge figure in the transfer market. But in 2017, we saw Neymar move to Paris Saint-Germain on a deal worth three times that sum. So it's safe to say that a certain level of inflation has definitely hit the football transfer market.
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Without further ado, let's take a look at five clubs with the highest transfer spending in the last decade (since the 2011/12 season).
(All numbers courtesy of Transfermarkt.com)
#5 Manchester United - €1.44 billion
Manchester United have always been heavy spenders. But they are also one of the biggest and most popular clubs in the world and they rake in a lot of money through various avenues. But under Sir Alex Ferguson, there was a sense of direction about the Red Devils' expenditure.
Unfortunately, none of the managers who succeeded him until Solskjaer seemed to have that kind of vision. The Red Devils are doing pretty well right now after Solskjaer insisted on putting a football structure in place.
Manchester United have made quite a few big-money signings in the last decade. All of their top 10 most expensive signings came in the last 10 years. Pogba is United's most expensive signing. He cost them €105 million. Harry Maguire comes second having cost them €87 million.
Jadon Sancho, Romelu Lukaku, Bruno Fernandes and Angel Di Maria were all brought in for sums in excess of €60 million each. Manchester United have become a lot more responsible in recent transfer windows and the club has not made any blunders in recent times.
But they are one of the heaviest spenders in Europe, having burnt €1.44 billion in player recruitments in the last decade.
#4 Juventus - €1.44 billion
Juventus might have a reputation for striking the best deals in the free-agent market but that doesn't mean they don't spend heavily. The Bianconeri flexed their financial muscles multiple times in the last decade as they sought continental glory.
Most of Juventus' big money signings have come in the last five years. They roped in Cristiano Ronaldo for a whopping €117 million in 2018. In the summer of 2016, they signed Gonzalo Higuain from Napoli for €90 million.
Young centre-back Matthijs De Ligt was signed from Ajax for a sum rising to €85 million. Arthur cost €72 million. Joao Cancelo, Douglas Costa, Federico Bernardeschi and Paulo Dybala were all signed for big sums in excess of €40 million each.
#3 Chelsea - €1.47 billion
Backed by the magic hat of Roman Abramovich, Chelsea are still cruising despite having spent in excess of €250 million in the 2020 summer transfer window alone. The Blues have not shied away from breaking the bank since the Russian billionaire took over.
They are currently the champions of Europe. They have also won the Premier League twice in the last decade. Suffice to say, a lot of that money has been well spent but they have misfired as well.
Goalkeeper Kepa Arizzabalaga and striker Alvaro Morata were brought in for a combined sum of about €145 million. While Morata flopped and left the club, Arrizzabalaga is still fighting to restore his reputation.
The Blues broke their transfer record by signing Kai Havertz from Bayer Leverkusen for €80 million last summer. Christian Pulisic was signed for €64 million. Jorginho, Timo Werner and Ben Chilwell were all signed for sums in excess of €50 million e.
Mateo Kovacic cost them €45 million and Hakim Ziyech was roped in for €40 million. The list goes on and on but you get the gist.
#2 Barcelona - €1.47 million
Arguably the club with the most number of big-money flops, Barcelona's spending in the last decade is a reflection of how poorly the club was being managed. They did rake in around €222 million through the sale of Neymar. But they squandered that and much more in signing players who weren't a good fit for the club.
Philippe Coutinho was signed from Liverpool for €145 million. Barcelona spent €135 million on Ousmane Dembele. Both players have failed to offer much of note since arriving and are tipped to be offloaded this summer. Antoine Griezmann was signed for €120 million and the jury is still out on whether he has lived up to his billing.
Signing Neymar initially from Santos had cost Barcelona €88 million. Midfielder Frenkie De Jong, who looks set to have a bright future at Barcelona, came for €86 million. Luis Suarez was signed from Liverpool for €81.72 million. Barcelona spent €60 million on Miralem Pjanic, who proved to be yet another big-money flop.
#1 Manchester City - €1.51 billion
Manchester City's transformation into a Premier League juggernaut has cost an insane amount of money. They've outspent every single club in Europe in the last decade and they have the results to show for it. The Champions League title remains elusive but you can't rebuff the argument that they are pretty close.
The Abu Dhabi Group have remained determined to give Pep Guardiola the money he needs to build a team that can dominate Europe. One great thing about Manchester City is that most of their signings have been carefully curated and brought in.
It speaks a lot about a club's recruitment policies and structure when all of their most expensive signings have been hits. Kevin De Bruyne is arguably one of the greatest Manchester City players of all time. He was signed for €76 million in 2015.
Ruben Dias, who won the Premier League Player of the Year Award in the 2020-21 season, was signed from Benfica in 2020 for €68 million. Riyad Mahrez has been a vital cog in Guardiola's setup and he was signed from Leicester City for €67.8 million in 2018.
Joao Cancelo is one of the best right-backs in the world and City spent €65 million to secure his services. Aymeric Laporte, Raheem Sterling and Rodri were all signed for sums in excess of €60 million.
Benjamin Mendy, Kyle Walker, John Stones, Leroy Sane and Bernardo Silva were all roped in for sums in excess of €50 million. Yes, Manchester City do spend heavily but they do it wisely as well.
