10 highest spending clubs in the 21st century

There has been a relaxation in ownership rules across the top leagues in Europe since the turn of the century. This has seen wealthy owners with deep pockets arrive on the scene and change the dynamics of the game for good.

Three notable examples in this regard are Chelsea, Manchester City and PSG, and more recently AC Milan. These clubs have successfully challenged the old status quo and traditional powerhouses like Real Madrid, Manchester United and Bayern Munich. In the process, they have carved out a niche for themselves, both domestically and in Europe.

Unsurprisingly, many quality players have moved clubs since the turn of the century. In fact, there have been 12 transfers worth at least €100 million— an amount unheard of only two decades ago.

On that note, here's a look at the ten clubs with the highest spending this century:

Note: All numbers and stats as per transfermarkt unless mentioned otherwise.

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#10 AC Milan - €1.488 billion

AC Milan have spent big in the last few years.

AC Milan are one of the most storied teams in Italian and European football. However, the Rossoneri haven't won a major title since their 2010-11 Serie A triumph.

With key players departing and the team's fortunes plummeting, Milan languished in mid-table mediocrity for a while. However, with Elliott Management taking ownership of the club last year, Milan have been able to attract top talent once again.

The Serie A leaders have made a number of big-name signings in the last two decades. However, they have never broken the bank for any player. That is evident in their two top signings of Leonardo Bonucci (€42 million) in 2017-18 and Rui Costa (€41 million) in 2001-02.

More recently, Milan dished out €35 million for Krzysztof Piatek (2018-19), €24 million for Franck Kessie (2019-20) and €28.8 million for Fikayo Tomori this summer.

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#9 Liverpool - €1.622 billion

Liverpool are into the Champions League knockouts.

Liverpool, much like Milan, have a glorious history, both in Europe and in their domestic league.

The Reds have made many high-profile signings in recent years, especially since the arrival of manager Jurgen Klopp. Most of these players have played a key role in Liverpool's resurgence as a force to be reckoned with in England and Europe.

Liverpool splurged €84.65 million to land Virgil van Dijk in the 2017 January transfer window, making the Dutchman the world's most expensive defender.

The club-record signing has been a rock at the back for Klopp's men, inspiring them to Champions League and Premier League triumphs in successive seasons.

Klopp also signed goalkeeper Alisson (€62.5 million), Mohamed Salah (€42 million), Sadio Mane (€41.2 million), Diogo Jota (€44.7 million) and Fabinho (€45 million). Suffice to say, all these players have made Liverpool the team they are today.

The Reds recently became the first English team to win all six group stage games in a Champions League season. They are currently second in this season's Premier League table.

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#8 PSG - €1.646 billion

PSG have become a force to be reckoned with this summer.

PSG made the news this summer when they made a spate of high-profile signings. The Ligue 1 giants snapped up Lionel Messi, Sergio Ramos, Gianluigi Donnarumma and Georginio Wijnaldum on free transfers. That made for one of the greatest transfer windows by any club in the game's history.

However, the QSI-owned club haven't hesitated to splurge in order to land their top targets. Only four years ago, PSG shelled out a staggering €222 million to bring Neymar to the Parc des Princes.

That made the Brazilian the world's most expensive transfer of all time. Only a year later, they parted with €145 million to land Kylian Mbappe. Both players, particularly the latter, have proved to be highly successful signings.

Other big-money PSG transfers this decade include their record scorer Edinson Cavani (€64.5 million), Angel Di Maria (€63 million), and more recently Achraf Hakimi (€60 million).

It remains to be seen if the expensively assembled star-studded team can conquer Europe this season, as their Ligue 1 triumph is all but a given.

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#7 Inter Milan - €1.772 billion

Inter Milan have fared well despite their recent financial woes.

Serie A holders Inter Milan have fared pretty well despite the exit of their manager Antonio Conte, star striker Romelu Lukaku and right-back Achraf Hakimi this summer.

Despite their recent financial woes, the Nerazzurri are flying high in Serie A this season. They currently sit only a point behind league leaders AC Milan. In the Champions League, Inter have reached the Round of 16, finishing behind group winners Real Madrid.

The Nerazzurri have only started splurging in the last few years. They never went beyond €46.8 million (Christian Vieri, 1999-00) before they dished out €74 million to bring Romelu Lukaku in the summer of 2019. A year later, Inter spent €43 million on Achraf Hakimi, and went on to win their first league title in 11 years.

Other notable Inter signings during the last two decades include Hernan Crespo (€40 million, 2002-03), Milan Skriniar (€34 million, 2017-18), Nicolo Barrella (€32.5 million, 2019-20) and Francesco Toldo (€26.5 million, 2001-02)

#6 Manchester United - €2.025 billion

Manchester United have spent big in the last two decades.

Manchester United have been one of the top spenders in the last two decades. The Premier League giants are one of six teams to have spent over €2 billion on incomings this century.

United have made several big transfers since the turn of the century, but not all of them can be termed as successful. At the top of the pile is Paul Pogba, whom United re-acquired from Juventus in 2016 by splurging €105 million.

However, the Frenchman has been a bit of a mixed bag during his stint at Old Trafford. The same also goes for captain Harry Maguire (€87 million), whom United bought from Leicester City two years ago, and Romelu Lukaku (€84.7 million, 2017-18). Meanwhile, Angel Di Maria (€64 million) only lasted one season at the club.

Nevertheless, it hasn't always been doom and gloom for United in the transfer market. Rio Ferdinand (€46 million, 2002-03) and Bruno Fernandes (€63 million, 2020) have been money well spent.

This summer, United splurged again, dishing out €85 million for Jadon Sancho and €40 million. It remains to be seen whether the duo, along with the returning Cristiano Ronaldo, can return the club to their halcyon days.

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#5 Juventus - €2.079 billion

Juventus have spent a lot in the last two decades.

Deposed Serie A champions Juventus have made a lot of big signings in the last two decades.

In fact, four of their top transfers happened in the last five years. The record Serie A winners splurged €90 million in 2016 to land 36-goal Capocannoniere winner Gonzalo Higuain.

Only two years later, Juventus entered the €100 club, dishing out €117 million to land a certain Cristiano Ronaldo. A year later, the Bianconeri splurged €90 million to sign Dutch sensation Matthijs de Ligt, who has become a mainstay in their defense. All these signings helped Juventus extend their Serie A domination to almost a decade, but the Champions League remained elusive.

Almost two decades earlier, almost at the turn of the century, Juventus signed Gianluigi Buffon (€52,8 million, 2001-02), and the rest, as they say, is history. Other top Bianconeri signings this century include Pavel Nedved (€45 million, 2001-02), Paulo Dybala (€40 million, 2015-16) and Leonardo Boncucci (€35 million, 2018-19).

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#4 Barcelona - €2.181 billion

Barcelona are in turmoil, both and off the field.

Barcelona are one of the top clubs in Spain and Europe, winning multiple La Liga and Champions League titles, including two continental trebles.

However, they have been far from judicious spenders in the transfer market. They have had incomings worth more than €2 billion in the last two decades. But most of these players were brought in for far more than their market value, and a few of the transfers made little sense from a tactical and long-term perspective.

Barcelona spent €135 million apiece on Philippe Coutinho and Ousmane Dembele. Both players, however, are not first-team regulars, and have largely been underwhelming at Camp Nou.

Antoine Griezmann (€120 million) lasted only two years at the club before he was sent back on loan to Atletico Madrid this summer. Similarly, Barcelona splurged €69.5 million on Zlatan Ibrahimovic (2009), only to let him go after a year.

However, Neymar (€88 million, 2013), Luis Suarez (€81.7 million, 2014). Dani Alves (€35.5 million, 2008) and Ronaldinho (€32.25 million, 2003) have been roaring successes. Manager Xavi will need more such signings to arrest Barcelona's alarming slide in fortunes.

#3 Real Madrid - €2.186 billion

Real Madrid have been big spenders in the last two decades.

Real Madrid have traditionally been one of the top spenders in the transfer market, especially in the last two decades.

At the turn of the century, the 'Galactico' era saw a lot of high-profile signings arrive at the Santiago Bernabeu. Most of them inspired Real Madrid to roaring success, both in Spain and Europe.

Gareth Bale (€101 million, 2013), Cristiano Ronaldo (€94 million, 2009), Zinedine Zidane (€77.5 million, 2001), Luis Figo (€60 million, 2000) and Ronaldo Nazario (€45 million, 2002) are some such examples.

However, there have been notable big-money flops at Madrid too. The likes of Eden Hazard (€115 million, 2019), Kaka (€67 million, 2009), James Rodriguez (€75 million, 2014) and Luka Jovic (€63 million, 2019) struggled to get going.

Nevertheless, the club has been strong contenders in major competitions. Carlo Ancelotti's men have looked good enough to win the La Liga title this season, while they have reached the Champions League knockouts after topping their gorup.

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#2 Manchester City - €2.332 billion

Manchester City have been huge spenders over the years.

Manchester City have been huge spenders, particularly in the last decade or so. The five-time Premier League winners have largely spent money on the right players who have contributed to the club's success.

City signed the likes of Kevin De Bruyne (€76 million, 2015), Ruben Dias (€68 million, 2020), Riyad Mahrez (€67.8 million, 2018), Aymeric Laporte (€65 million, 2017), Raheem Sterling (€63.7 million, 2015), Sergio Aguero (€40 million, 2011) and Ederson (€40 million, 2017).

Other notable City signings include Joao Cancelo (€65 million, 2019), Rodri (€62.7 million, 2019) and Bernardo Silva (€50 million, 2017). This summer, Pep Guardiola spent €117.5 million to bring in Jack Grealish, who has had a lukewarm start to life at the Etihad.

Nevertheless, City have enough quality in their ranks to successfully defend their Premier League title and possibly break their European duck this season.

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#1 Chelsea - €2.445 billion

Chelsea have spent big in the last two decades.

Chelsea, like Manchester City, have been huge spenders over the last two decades. The Blues have broken the bank to bring in many a world-class player to Stamford Bridge. Suffice to say, most of them have been successful, albeit to varying degrees.

Their first big signing of the decade was former Liverpool striker Fernando Torres (€58.5 million, 2011). Over the years, the likes of Jorginho (€57 million, 2018), Didier Drogba (€38.5 million, 2004), Eden Hazard (€35 million, 2012) and N'Golo Kante (€35.8 million, 2016) and Antonio Rudiger (€35 million, 2016) also arrived at Stamford Bridge.

However, the likes of Kepa Arrizabalaga (€80 million, 2018), Andriy Shevchenko (€43.88 million, 2006) and Alvaro Morata (€60 million, 2017) failed to get going at the club.

In the last two summer transfer windows, Chelsea brought in the likes of Timo Werner (€53 million), Kai Havertz (€80 million, 2020) and Romelu Lukaku (€115 million).

It remains to be seen if the trio can help end the club's five-year league drought and achieve more success in England.