Which club has spent most money in the transfer window? Updated figures for summer 2025 as Woltemade deal gives Isak fresh hope

The summer transfer window is always a flurry of activity, but the 2025 offseason has been teeming with life as clubs look to position themselves for competitive action in the coming season.

Thanks to the Club World Cup, there has been additional transfer business as those participating in the summer tournament were allowed additional leeway when it came to signing players. Thus, clubs like Chelsea took the opportunity to bring in players in the middle of the competition, as new signing Joao Pedro came on and scored in both the semifinal and final.

With still plenty of time to go in the window before the season begins for most European clubs, there is an expectation that the activity will continue all the way until deadline day for most leagues on Monday, September 1.

The Sporting News has a roundup of which clubs have been the most active, both in buying players and selling to bolster their finances.

MORE: Is Hugo Ekitike worth the big money Liverpool have spent?

Which club has spent most money in the transfer window?

Highest total spend

With just a week left in the transfer window, Liverpool have spent more money than any other club in the 2025 summer transfer window. Their big-money signings of Florian Wirtz and Hugo Ekitike, which smashed their previous transfer record, put them over the top.

Reports linking the Reds to a massive swoop for Newcastle striker Alexander Isak, along with interest in Crystal Palace's England centre-back Marc Guehi, means their outlay could yet surpass €500 million.

Newcastle's move to secure the €85m club-record signing of Germany striker Nick Woltemade from Stuttgart 

Chelsea, Arsenal, and the two Manchester clubs have jockeyed for positioning below the Reds throughout the transfer window, although the Woltemade deal vaulted Newcastle in the top top five two days before the deadline.

Enzo Maresca's world champions so far have invested just under €280m on new signings by continuing their flurry of recent transfer activity under the current ownership. Alejandro Garnacho's pending move from Manchester United to Stamford Bridge will taken them over  €300m for the window.

Arsenal's deals for Viktor Gyokeres and Cristhian Mosquera moved them into the mix, along with Manchester United whose move for Benjamin Sesko was added to additions of Matheus Cunha and Bryan Mbeumo. Manchester City are fifth after goalkeeper James Trafford completed his return to the club amid speculation long-serving No. 1 Ederson will leave.

The list is unsurprisingly dominated by Premier League clubs, who simply have greater financial might than the majority of teams elsewhere, although Real Madrid have also been busy so far and are lurking on the fringes of the top five biggest spenders.

Transfer figures via Transfermarkt.com, current as of Aug. 23, 2025.

Highest net spend

When it comes to net spend — total expenditure minus income from player sales — Liverpool topped the list until adding Luis Diaz's big-money outgoing to the balance sheet. The Colombia winger has joined Bayern Munich, following Jarell Quansah to the Bundesliga after the defender signed for Bayer Leverkusen.

Then, it was Arsenal now have the biggest net spend thanks to deals for Gyokeres, Mosquera and Noni Madueke, with only around €8m recouped through sales so far. Yet the move for Benjamin Sesko, coupled with other major attacking additions, have Manchester United in front, as they have yet to sell anyone from their squad to offset the costs. The Red Devils have been boosted by income from sell-on clauses attached to other deals such as Anthony Elanga to Newcastle United and Alvaro Carreras to Real Madrid.

Real Madrid have also had a lack of outgoing moves. The arrivals of defenders Dean Huijsen and Trent Alexander-Arnold in particular were both heralded as early successes by their Club World Cup performances, but big-money departures have not yet happened. Only Luka Modric has departed at this point, leaving for AC Milan on a free transfer.

Chelsea might have spent a fortune as detailed above, but significant transfers out of Stamford Bridge have helped to balance things a bit. Same too for Liverpool, who dropped out of the top five in net spend after selling Darwin Nunez, although we may see them back if they do complete a deal for Alexander Isak. Conversely, if the Isak move happen for what would have to be a British record fee, Newcastle would tumble down the net spend rankings.

Transfer figures via Transfermarkt.com, current as of Aug. 30, 2025.

Which club has received the most money this transfer window?

Bayer Leverkusen's sale of Florian Wirtz to Liverpool for an enormous fee puts them atop the list of clubs for both total and net income. They have looked to reinvest that money in Malik Tillman and Jarell Quansah, but they have still banked a significant total.

Bournemouth are in exceptional financial shape after the sales of Huijsen, Milos Kerkez, and Ilya Zabarnyi to bolster their coffers. Chelsea and Liverpool's astronomical expenditure has been offset well by the departures of Noni Madueke and Luis Diaz respectively.

Highest total income

Transfer figures via Transfermarkt.com, current as of Aug. 30, 2025.

Highest net income