Premier League summer 2025: Who has spent the most so far?

Dubai: We're two weeks away from the window slamming shut and honestly the numbers are absolutely crazy. Some clubs are throwing money around, while others are sitting tight with their wallets glued shut.

Liverpool have been super active in the market after winning the Premier League with £291.9 million spent already. That's proper "we mean business" money right there. After spending almost nothing last season, they're clearly not messing about anymore. They're not only spending but they're recouping money as well, and they're not done yet either.

Chelsea are right behind them at £240.1 million, which is just the norm for them these days. At least they're selling smart as well.

But here's the mad bit - Manchester United have spent £197.2 million and sold absolutely nobody yet. Zero pounds coming in. They've spent well, but without selling the unwanted players, it's going to be difficult for them to maintain a healthy squad.

Here's how the big boys are actually doing when you look at the real numbers:

Liverpool spent £291.9m but got £188.5m back - so really they're only down £103.4m. Not bad business when you think of it.

Chelsea managed to spend £240.1m while bringing in £205.7m. That's only a £34.4m hit. That's a brilliant bit of business. Also, they've received a lot of money for winning the Club World Cup as well.

Manchester United have spent £197.2m with nothing coming back.

Arsenal have gone big too - £185.7m net spend after selling basically nothing. They want that title badly. Can they do it?

City are being City - £99.7m net. They have definitely splashed the cash but they have spent it wisely this time.

Spurs, meanwhile, have spent £96.4m net. Daniel Levy has opened his wallet but they need to do more.

You know it's getting ridiculous when rival fans start singing together. That's exactly what happened at Villa Park this weekend when Newcastle and Villa supporters joined forces to have a go at the Premier League's PSR rules.

Can't blame them really. Villa had to sell Jacob Ramsey to Newcastle just to balance the books. They wanted to keep him but couldn't because of the PSR restrictions. That's not football, that's accounting. And it perfectly shows why these financial rules are driving everyone crazy. The big clubs stay big, everyone else gets squeezed.

Want to see who's been busy? Here's a look at top spenders:

Liverpool: £291.9m

Chelsea: £240.1m

Manchester United: £197.2m

Arsenal: £192.6m

Manchester City: £153.4m

And who's made bank selling players:

Chelsea: £205.7m

Bournemouth: £197.5m

Liverpool: £188.5m

Brighton: £104.7m

Nottingham Forest: £102.1m

The reality? Most clubs are still playing catch-up to the same old elite. Two weeks left and honestly, not much is going to change that.