Tottenham among four clubs who’ve spent over €1billion on transfers since 2020-21

Ben Stewart • 11 Jul 2025

Since the summer of 2020, Tottenham are among four clubs from around Europe who have spent over €1billion in transfer fees.

Inflation has seriously impacted the transfer market and these days, most of us don’t bat an eyelid when clubs spend over €50million on a single player.

Since the 2020-21 campaign, here are the four clubs from across Europe who’ve spent more than €1billion in that time, using figures provided by Transfermarkt.

Note: As of writing, PSG have spent slightly less than €1billion since 2020-21, but will likely surpass that figure this summer.

4. Tottenham – €1billion*

As of writing, Tottenham’s total spend since 2020 is slightly below the €1billion mark. However, the impending arrival of Morgan Gibbs-White is set to tip them over the threshold.

For a club that barely spent anything during their peak years under Mauricio Pochettino, they’ve seriously splashed the cash since 2020-21.

Since then, Tottenham have spent an average of €163.5million per season, having signed 49 players since the summer of 2020.

With Mohammed Kudus, Mathys Tel, Kevin Danso, Luka Vuskovic and Kota Takai already through the door this summer, it’s been a promising start to the window for Thomas Frank’s side.

3. Manchester United – €1billion

When it comes to spending vast sums of money in the transfer market, few clubs splash the cash like United do.

The Red Devils have signed 35 players since the summer of 2020 and have spent slightly over €1billion on transfer fees during that time.

Unfortunately for United, they haven’t seen much of a return on their investment over the last five years.

During this period, their biggest signings have been Jadon Sancho, Antony, Casemiro, Rasmus Hojlund, Mason Mount, Leny Yoro and now Matheus Cunha.

Cunha could break the mould, but generally speaking, United’s most lucrative signings have struggled to live up to the hype.

2. Manchester City – €1.1billion

After falling below expectations in 2024-25, Pep Guardiola has turned to the transfer market in a bid to improve his side.

Since the start of 2025, City have already spent over €340million on transfer fees, having signed the likes of Omar Marmoush, Nico Gonzalez, Abdukodir Khusanov, Tijjani Reijnders, Rayan Ait-Nouri and Rayan Cherki.

Guardiola’s side have also spent big on the likes of Ruben Dias, Jack Grealish, Erling Haaland and Josko Gvardiol since the summer of 2020.

While City have been the second biggest spenders since 2020-21, they are below Chelsea, United, Tottenham and Arsenal when it comes to net spend during that period.

1. Chelsea – €1.99billion

Chelsea’s transfer expenditure over the last five years blows everyone else in Europe out of the water.

While the club have recouped around €800million through player sales since 2020, that seems like a drop in the ocean considering their almost €2billion spend.

Under the ownership of BlueCo, the Blues have adopted a unique transfer strategy whereby they swoop up virtually every young rising star available on the market.

Having also handed out some seriously long and lucrative contracts over the years, Chelsea also have one of the highest wage bills in Europe.

In total, they’ve purchased 59 players since the summer of 2020, meaning they’ve spent an average of €33.7million per signing.

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