Chelsea’s squad at the end of the 2024 financial year has been officially recognized as the most expensive ever assembled in terms of transfer fees, according to UEFA’s annual European Club Finance and Investment Landscape report.
The report, which analyzes financial trends across Europe’s top leagues, underscores the scale of spending by Premier League clubs.
It found that English teams increased their transfer spending by 17% in 2023, reaching a record €2.1 billion ($2.2bn). Notably, nine of the world’s 20 most expensive squads belong to Premier League clubs, with Chelsea leading the list.
Since Todd Boehly and Clearlake Capital took over in the summer of 2022, Chelsea have signed 41 players across six transfer windows.
Their squad, valued at a staggering €1.656 billion at the close of the 2024 financial year, surpassed Manchester United’s 2023 squad, which cost €1.422 billion.
Financial records from July 2019 to June 2024 show that Chelsea’s spending outpaced all other European clubs, totaling nearly €2 billion in transfer fees. This figure is two-thirds more than Manchester City (€1.175bn) and Arsenal (€1.145bn), and significantly higher than Barcelona (€733m) and Liverpool (€657m).
Despite their record-breaking investment, Chelsea have struggled to translate spending into success. Under Boehly-Clearlake’s ownership, the club has failed to secure a trophy or qualify for the Champions League. Frustration among fans reached a boiling point ahead of their clash with Southampton at Stamford Bridge, with supporters staging a protest against the club’s management.