October 9 – The latest CIES Football Observatory report has revealed Chelsea as the club with the biggest net increase in squad transfer value over the past 12 months, underlining the ongoing financial power and asset-building strategy of the Premier League side with BlueCo at the helm.

According to the figures, Chelsea’s player valuations have risen by an estimated €372 million, while the club’s net spending across the last two transfer windows remained modest at just €8 million.

With record spending and sales figures, this revolving door business strategy has helped to deliver a net positive evolution of €364 million – the highest figure among clubs globally.

European champions Paris Saint-Germain ranked second with a net gain of €303 million – an inflation spurred on by the meteoric rise of the majority of its young squad and its consequential haul of silverware – followed by Bundesliga outfit Eintracht Frankfurt at €294 million.

At the other end of the spectrum, Manchester United (-€377 million) and Manchester City (-€315 million) recorded the largest declines, suggesting a contraction in player market value due to on-pitch shortcomings, relative to recent transfer activity which neither club shies away from.

In absolute squad value, Chelsea again sit top, with their 50-player roster collectively estimated at €1.81 billion. Real Madrid (€1.68 billion, 32 players) and Manchester City (€1.47 billion, 46 players) complete the top three. Arsenal, Paris Saint-Germain, Liverpool, Barcelona and Tottenham also snuggle up in the billion-euro bracket.

The figures provide another snapshot of how elite clubs’ balance sheets and sporting strategies intersect – particularly in a market where transfer inflation and amortisation policies are under closer scrutiny than ever. Whatever you think of BlueCo’s gung-ho transfer strategy – which has seen Chelsea’s squad grow to 50 players – it’s hard to deny that they’ve played it well by the book.

Chelsea’s position reflects both a youthful (albeit inexperienced) squad with high resale potential and composure in transfer management, while Manchester United’s downturn may raise questions about return on investment following successive windows of heavy spending with not much to show for it.

Contact the writer of this story, Harry Ewing, at moc.l1760008247labto1760008247ofdlr1760008247owedi1760008247sni@g1760008247niwe.1760008247yrrah1760008247