Manchester United Named Worst Transfer Operators in Europe
A new study reveals the English club has incurred a £334 million loss on player signings over the past five years.
Manchester United has been identified as the worst transfer operator in European football, according to a recent study by CIES Football Observatory. The club has reportedly lost £334 million on player signings over the last five years, a figure calculated by comparing transfer fees paid against money received for player sales, with the value of remaining players also factored in.
The analysis, which examined clubs that have spent more than £42 million on transfers since 2021, places Manchester United at the bottom of the European rankings. The findings indicate a combined loss of approximately £156 million from player sales and a further £184 million decrease in the market value of players currently on the squad's books.
Specific examples cited include the £85 million signing of Antony from Ajax in 2022, who was later sold for £21.7 million to Real Betis. Jadon Sancho, acquired for £73 million from Borussia Dortmund, did not generate any transfer fee upon his departure and remains a free agent. Rasmus Hojlund was purchased for £72 million in 2023 and reportedly sold for a £34 million loss. Players such as Andre Onana (£47 million), Mason Mount (£60 million), and Joshua Zirkzee (£36 million) are also mentioned as signings who have struggled to make a significant impact and are still on the club's payroll.
The study suggests that these financial losses are indicative of a broader issue with recruitment, highlighting a struggle to identify the right players at appropriate prices.
This situation marks another challenge for the club, which has faced managerial instability, internal unrest, and fan criticism regarding its ownership and football operations, particularly since the Ineos group took over football operations in 2024.
Elsewhere in the study, Eintracht Frankfurt topped the list with an approximate value increase of £441 million from their transfer dealings, followed by Real Madrid (£440 million) and PSG (£394 million). Manchester City also featured among the top performers, ranking fifth with an increase of around £374 million, though the study notes this period includes financial rule breaches found for the club between 2009 and 2018.
Other Premier League clubs also showed poor transfer market performance. Tottenham Hotspur recorded a total value decrease of £157 million, with player values dropping by £195 million. Significant outlays on players like Richarlison and Dominic Solanke were highlighted as examples of signings that have not yielded expected returns. Leicester City, now in League One, saw a decrease of £73 million, and West Ham United depreciated by £63 million.
Conversely, clubs often recognized for strong management, such as Bournemouth, Brighton, and Brentford, ranked highly with gains of £292 million, £271 million, and £253 million, respectively. Only Saudi Arabian club Al-Hilal ranked below Manchester United in the overall global standings.