Transfers: most negative balance for Arsenal (-€362m) in 2025-26, most positive for Monaco (+€149m)

Arsenal FC (Premier League) is the club with the most negative balance (-€362m) in the two transfer windows of the 2025-26 season (summer 2025 and winter 2026), according to the CIES Football Observatory's "Weekly Post", published on 11/02/2026.

The London club spent €378m over the season, with income of only €16m. Two other English clubs complete the podium of those with the most negative balance: Liverpool FC (-€244m) and Manchester City FC (-€208m).

On the other hand, AS Monaco FC (Ligue 1 McDonald's) posted the highest profit, at +€149m. The Principality club spent €19m and received €168m. Monaco is ahead of Wolverhampton FC (+€98m) and Southampton FC (+€89m).

In terms of revenue, two other English clubs recorded the highest income during the two transfer windows: Chelsea FC (€398m) and AFC Bournemouth (€293m), ahead of Bayer 04 Leverkusen (€288m, Bundesliga).

Liverpool is the club that spent the most to strengthen its squad (€499m), ahead of Arsenal (€378m) and Chelsea (€340m).

Transfers: 11 English clubs and 4 Saudi clubs among the 20 with the most negative balance in 2025-26