CIES: Man United record Europe's worst transfer losses at £334m over the past five years

According to the Daily Mail, research from the CIES Football Observatory shows that Manchester United has incurred transfer losses of approximately £334 million over the past five years, ranking last among European clubs.

Old Trafford has recently been plagued by misfortune, with troubles extending beyond the leaking roof of the stadium.

Manchester United currently faces a managerial crisis, dressing room instability, and unprecedented fan anger towards the board and owners. Now the struggling club has been rated as having the worst transfer operations in Europe.

Data experts from the CIES Football Observatory conducted a detailed analysis of transfer operations for hundreds of clubs worldwide.

The statistical results are grim for Manchester United. They rank last among European clubs, with a cumulative loss of £334 million over the past five years.

This also casts a shadow over INEOS once again. The group took over football operations in 2024, and a significant portion of the statistical period was under its management.

The data compiled by CIES covers all teams with transfer expenditures exceeding £42 million since 2021, including add-ons.

The institution calculated the difference between a team's spending on new signings and revenue from player sales, excluding loan deals. Changes in the market value of players currently owned by the club were also considered.

A higher ranking on the list indicates a more astute transfer strategy and better operations, while lower-ranked teams performed poorly in the transfer market.

For Manchester United, player sales resulted in a loss of approximately £156 million, while the market value of players in the squad further declined by £184 million.

These poor figures are not hard to explain. Manchester United spent £85 million in 2022 to sign Antony from Ajax, who was eventually sold to Real Betis for only £21.7 million.

Jadon Sancho's high-profile move from Borussia Dortmund cost £73 million. Manchester United did not recoup any transfer fees, and he is currently a free agent.

Højlund joined for £72 million in 2023 and then moved to Napoli, costing Manchester United £34 million in resale loss.

Onana, Mount, and Zirkzee cost £47 million, £60 million, and £36 million respectively, and remain with the team, but none have delivered convincing performances.

Therefore, Manchester United's problem is not just the failure to recoup transfer fees through sales, but also the club's difficulty in accurately identifying suitable players at reasonable prices in the transfer market.

At the top of the list, Bundesliga side Eintracht Frankfurt showed the most outstanding performance, with an increase in player market value of approximately £441 million.

Real Madrid followed closely with £440 million, and Champions League winners Paris Saint-Germain ranked third with £394 million.

Manchester City is also among the best-performing teams, ranking fifth with an increase in market value of approximately £374 million, just behind Benfica. However, it should be noted that Manchester City was found to have violated financial rules between 2009 and 2018, a period that laid the foundation for the five-year cycle studied by CIES.

Manchester United is not the only Premier League team that has performed poorly in the transfer market in recent years.

Tottenham Hotspur's total market value decreased by £157 million, with player market value falling by £195 million. The team spent £60 million to sign Richarlison from Everton in 2022 and £65 million to bring in Solanke, but neither of these significant investments yielded the expected returns.

Spurs invested heavily in players like Tonali, Mateus Fernandes, and Jan Paul van Hecke this summer, and the long-term effects remain to be seen. However, in the full CIES ranking, Spurs rank fourth from the bottom.

Leicester City, currently in League One, saw its market value decrease by £73 million, and relegated West Ham United's market value shrank by £63 million.

Unsurprisingly, clubs often seen as well-run, such as AFC Bournemouth, Brighton & Hove Albion, and Brentford, ranked highly, achieving market value increases of £292 million, £271 million, and £253 million respectively.

Liverpool lost Alexander-Arnold and Konate after their contracts expired, and have sold three players for fees exceeding £100 million within two years, yet the team is largely at break-even, with a market value increase of £13 million.

Despite spending nearly £2 billion, Chelsea recouped a significant amount through player sales, with a market value increase of £179 million during the statistical period. Nottingham Forest was also very active in the transfer market, achieving the same market value increase as Chelsea.

According to CIES's statistical standards, Manchester United performed the worst among Premier League teams on the list, and by a significant margin. The crisis-ridden club has opted to retain Erik ten Hag for now. However, the stark reality of transfer failures over the past five years will only further deepen fan distrust in the club's operations.