Manchester United is the European club that has lost the most money on the transfer market over the last five years. According to theCIES Football Observatorythe Red Devils show a depreciation of 405 million euros on players recruited outside their training center since 2022. A balance sheet which takes into account the capital gains or losses made on the players resold, but also the evolution of the estimated value of those who are still at the club.
On a global scale, only Al-Hilal did worse with a depreciation of 502 million euros. The observation is particularly heavy for Manchester United, whose massive investments have not prevented the value of its recruits from falling. Conversely, several European big names have a largely positive balance sheet, starting with Eintracht Frankfurt (+€527 million), Real Madrid (+€526 million) and Paris Saint-Germain, third in this CIES ranking.
