Liverpool top world spending table Al-Hilal hit $1bn transfer deficit

Liverpool have overtaken Chelsea to become the club with the most expensive squad in world football, according to new figures from the CIES Football Observatory.

The Premier League side have spent €1.226 billion ($1.42bn) in transfer fees to assemble their current first-team squad, including potential add-ons regardless of whether those amounts have yet been paid.

CIES' study also highlights the scale of spending elsewhere in world football, with Saudi Pro League giants Al-Hilal recording a remarkable net transfer deficit of more than $1 billion across the past five years.

Liverpool have world's most expensive squad

Liverpool's current squad cost of €1.226bn ($1.42bn) puts them narrowly ahead of Manchester City, whose group was assembled for €1.209bn ($1.40bn).

Tottenham sit third after spending €1.178bn ($1.37bn) on their current players, while Chelsea have fallen from first to fourth with a squad costing €1.166bn ($1.35bn).

Manchester United are fifth at €1.157bn ($1.34bn), with Arsenal completing an all-English top six at €1.089bn ($1.26bn).

Real Madrid are the highest-ranked club from outside the Premier League, sitting seventh with a squad cost of €1.021bn ($1.18bn).

World's most expensive current squads

The figures underline the continued financial dominance of English football, with Premier League clubs occupying each of the top six positions.

Five English teams - Chelsea, Manchester City, Tottenham, Liverpool and Manchester United - also rank as the biggest gross spenders in world football across the last five years.

How much have Liverpool spent in the transfer market?

CIES calculates that Liverpool have spent €1.263bn ($1.46bn) on player transfers across the last 10 transfer windows.

Their net balance during that period stands at -€745m (-$864m).

Liverpool have also spent €294m ($341m) during the 2026 calendar year, producing a net balance of -€254m (-$295m).

That five-year deficit is among the largest in world football, although it remains some way short of the extraordinary figure recorded by Al-Hilal.

Al-Hilal's transfer deficit passes $1bn

Al-Hilal have recorded the biggest negative transfer balance of any club worldwide over the last five years.

The Saudi Pro League giants have spent €925m ($1.07bn) across the last 10 transfer windows and have a net transfer balance of -€873m — approximately -$1.01bn.

That puts them ahead of Tottenham, whose five-year deficit stands at €840m ($974m), and Manchester United on €831m ($964m).

Biggest five-year net transfer deficits

Al-Hilal have continued their heavy investment in 2026, spending €308m ($357m) on transfers during the calendar year.

Their net balance for 2026 alone stands at -€287m (-$333m), the largest deficit of any club worldwide.

Premier League dominates global transfer spending

Manchester City lead the world for gross transfer expenditure in 2026, having spent €651m ($755m).

Tottenham are second on €518m ($601m), followed by Aston Villa at €400m ($464m), Chelsea on €348m ($404m) and Newcastle United at €335m ($389m).

Liverpool's €294m outlay places them below that group, but their investment over several transfer windows has now taken the value of their current squad above every other club in world football.

Brighton, meanwhile, are the only Premier League club to have recorded a positive net transfer balance across the last 10 windows, posting a €33m ($38m) surplus.

The CIES figures are based on transfer fees invested in players, including conditional add-ons regardless of whether the full amounts have actually been paid.