New spending record
Manchester City’s academy is increasingly becoming a goldmine. The next homegrown talent to be sold by the Citizens is midfielder Cole Palmer, who joins Premier League rivals Chelsea on a seven-year deal with a club option of a further year. The England U21 international, who has been part of Pep Guardiola’s squad for the past two years, will reportedly cost an initial fee of €47 million plus €6m in possible add-ons.
Highest transfer spending in a single season – Chelsea to break own record?
15 PSG | 2017/18 | Signings: 5 | Spending: €238m
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Net spend: €140m
Last updated: September 1, 2023
14 Man United | 2022/23 | Signings: 6 | Spending: €240m
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Net spend: €227m
13 Chelsea | 2020/21 | Signings: 7 | Spending: €247m
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Net spend: €191m
12 Atlético | 2019/20 | Signings: 10 | Spending: €247m
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Net spend: -€62m
11 Real Madrid | 2009/10 | Signings: 8 | Spending: €259m
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Net spend: €170m
10 Juventus | 2018/19 | Signings: 9 | Spending: €260m
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Net spend: €147m
9 Chelsea | 2017/18 | Signings: 10 | Spending: €261m
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Net spend: €66m
8 PSG | 2018/19 | Signings: 6 | Spending: €262m
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Net spend: €148m
7 Barcelona | 2019/20 | Signings: 8 | Spending: €299m
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Net spend: €146m
6 Man City | 2017/18 | Signings: 10 | Spending: €318m
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Net spend: €226m
5 Al-Hilal | 2023/24 | Signings: 15 | Spending: €353m
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Net spend: €352m
4 Real Madrid | 2019/20 | Signings: 9 | Spending: €356m
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Net spend: €219m
3 Barcelona | 2017/18 | Signings: 7 | Spending: €380m
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Net spend: €148m
2 Chelsea | 2023/24 | Signings: 11 | Spending: €464m
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Net spend: €203m
1 Chelsea | 2022/23 | Signings: 16 | Spending: €612m
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Net spend: €554m | Plus around €17.5m for head coach Graham Potter
Palmer made 41 appearances for Man City, in which he played 1,482 minutes and was directly involved in eight goals. The attack-minded midfielder also featured on the wings both in England’s U21s and at the European treble winners. The 21-year-old pushes Chelsea’s transfer spending to around €464m. That sum is a new record for a summer transfer window. In comparison of English midfield talents, only Jude Bellingham (Real Madrid) commanded a higher transfer fee, and internationally, just four U21 midfielders were more expensive.
The fact that Chelsea are happy to pay a lot for U23 players has been part of the football world since July 2022. Man City have been developing top talents and selling them for high fees for some time. Palmer would be the most expensive homegrown talent from the academy to date, which in the past six years alone has produced players such as Jadon Sancho (Man Utd), Jeremie Frimpong (Bayer Leverkusen), Roméo Lavia (Chelsea), Brahim Díaz (Real Madrid), Ivan Ilic (Torino), Felix Nmecha (Borussia Dortmund), Jamie Bynoe-Gittens (Borussia Dortmund), Lukas Nmecha (Wolfsburg), and goalkeepers James Trafford (Burnley), Gavin Bazunu (Southampton) and Arijanet Muric (Burnley).
These are just the talents that have left Man City. Phil Foden, Rico Lewis, James McAtee and loan players Taylor Harwood-Bellis (Southampton) and Callum Doyle (Leicester) are all still under contract with the English champions, among others.
Neymar, Caicedo, Rice & Co.: The most expensive summer transfers
Cole Palmer | Man City -> Chelsea | Fee: €47m
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Market value: €18m
Last updated: September 1, 2023
Matheus Cunha | Atlético -> Wolves | Fee: €50m
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Market value: €25m (obligation to buy)
Ousmane Dembélé | Barcelona -> PSG | Fee: €50m
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Market value: €60m
Min-jae Kim | Napoli -> Bayern Munich | Fee: €50m
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Market value: €60m
André Onana | Inter -> Man United | Fee: €52.5m
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Market value: €35m
Aleksandar Mitrovic | Fulham -> Al-Hilal | Fee: €52.6m
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Market value: €28m
Rúben Neves | Wolves -> Al-Hilal | Fee: €55m
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Market value: €40m
Moussa Diaby | Bayer Leverkusen -> Aston Villa | Fee: €55m
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Market value: €50m
Jérémy Doku | Rennes -> Man City | Fee: €60m
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Market value: €28m
Malcom | Zenit -> Al-Hilal | Fee: €60m
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Market value: €30m
Otávio | Porto -> Al-Nassr | Fee: €60m
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Market value: €35m
Manuel Ugarte | Sporting -> PSG | Fee: €60m
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Market value: €50m
Christopher Nkunku | RB Leipzig -> Chelsea | Fee: €60m
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Market value: €80m
Roméo Lavia | Southampton -> Chelsea | Fee: €62.1m
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Market value: €32m
Sandro Tonali | AC Milan -> Newcastle | Fee: €64m
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Market value: €50m
Mason Mount | Chelsea -> Man United | Fee: €64.2m
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Market value: €60m
Dominik Szoboszlai | RB Leipzig -> Liverpool | Fee: €70m
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Market value: €50m
Rasmus Højlund | Atalanta -> Man United | Fee: €75m
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Market value: €45m
Kai Havertz | Chelsea -> Arsenal | Fee: €75m
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Market value: €55m
Neymar | PSG -> Al-Hilal | Fee: €90m
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Market value: €60m
Josko Gvardiol | RB Leipzig -> Man City | Fee: €90m
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Market value: €75m
Harry Kane | Tottenham -> Bayern | Fee: €100m
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Market value: €90m
Jude Bellingham | Borussia Dortmund -> Real Madrid | Fee: €103m
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Market value: €120m
Moisés Caicedo | Brighton -> Chelsea | Fee: €116m
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Market value: €75m
Declan Rice | West Ham -> Arsenal | Fee: €116.6m
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Market value: €90m
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