€100m is the new €50m: How football transfers and finance have changed in the last decade

€100m is the new €50m: How football transfers and finance have changed in the last decade Premier League clubs are renowned for spending heavily during the transfer windows, and this summer has continued in the same vein. A quick comparison between the business conducted in summer 2017 and 2026 highlights how football transfers have changed in recent years. Top 10 Premier League transfers summer 2017 Romelu Lukaku – Everton to Manchester United – €84.7m Alvaro Morato – Real Madrid to Chelsea – €66m Benjamin Mendy – Monaco to Manchester City – €57.5m Alexandre Lacazette – Lyon to Arsenal – €53m Kyle Walker – Tottenham Hotspur to Manchester City – €52.7m Bernardo Silva – Monaco to Manchester City – €50m Gylfi Sigurdsson – Swansea City to Everton – €49.4m Nemanja Matic – Chelsea to Manchester United €44.7m Mohamed Salah – Roma to Liverpool – €42m Davinson Sanchez – Ajax to Tottenham Hotspur – €42m Top 10 Premier League transfers summer 2026 Morgan Rogers – Aston Villa to Chelsea – €137.6m Elliot Anderson – Nottingham Forest to Manchester City – €135m Sandro Tonali – Newcastle United to Tottenham Hotspur – €108m Mateus Fernandes – West Ham United to Tottenham Hotspur – €99m Jeremy Jacquet – Rennes to Liverpool – €63.6m Jan Paul van Hecke – Brighton & Hove Albion to Tottenham Hotspur – €60m Johan Manzambi – Freiburg to Aston Villa – €60m Luka Vuskovic – Tottenham Hotspur to Brighton & Hove Albion – €54m Marco Palestra – Atalanta to Chelsea – €57m Andrey Santos – Chelsea to Manchester United – €56.3m Why are Premier League clubs paying more for players? Lucrative broadcasting deals have helped Premier League clubs blow other major European leagues out of the water in the transfer market. In 2017, €50m was enough for Manchester City to buy Bernardo Silva. He subsequently earned legendary status with the club. Fast forward to this summer and City have paid €135m for Elliot Anderson. That is a lot of money for a functional midfield player. Elsewhere, Chelsea recently agreed a €137.6m deal to sign Morgan Rogers from Aston Villa. Given that he is far more creative than Anderson, they will feel they have got value for money. Football finance expert Kieran Maguire believes that clubs are now engaging in a contest to determine who can establish a new record transfer fee. “It sets a benchmark,” Maguire said. “Forest wanted to be close to the record level because they felt Elliot Anderson was a critical player, a player very much in demand. “That has been surpassed by the Morgan Rogers fee – only slightly – but it allows the club to say, ‘this is the record English signing’. So, there’s an element of bragging rights involved. “Because the Premier League is so wealthy, it’s relatively rare that a club is in financial straits where it has to sell. “In the case of English players, you’ve then got the homegrown rule, which gives clubs more flexibility. You put all of those factors together, and it means the Premier League is a big driver.” Big money moves aren’t guaranteed to be successful Intriguingly, the huge outlay on players in recent years has not translated into Premier League clubs dominating the Champions League. English clubs have lifted the trophy just three times in the last ten seasons, which is a poor return when considering how much they have spent. Splashing the cash on a player does not necessarily guarantee success – a point evidenced by some of the biggest moves of the past few years. Jack Grealish was the top transfer in 2021, but failed to live up to expectations at Man City. It has been a similar story with many other big-money moves since then. Liverpool’s huge outlay on Alexander Isak and Florian Wirtz last summer did not deliver the desired results, although they still have time to prove their worth. This summer’s biggest spenders will be hoping that their sizeable investments ultimately pay dividends.