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With Benfica announcing the departure of Darwin Nunez to Liverpool, 'net spend' has become a trending term amongst football fans in the transfer market.
Liverpool fans are staunchly defending their expensive signing based on the net spend logic as rival fans continue to debate the money spent on the transfer.
Simply put, net spend is the difference between the money raised by a club through player sales and money spent by a club on purchasing new footballers.
This article will rank the big six in the Premier League - Manchester City, Liverpool, Chelsea, Arsenal, Manchester United and Tottenham Hotspur - on their net spend since 2016.
The higher the negative value of the net spend, the more the club has spent on bringing in new faces. It is important to note that not a single big six club has a positive net spend, which is expected given their stature in the Premier League.
Let's have a look at the net spend then since 2016.
#6 Manchester City - Net Spend - £-632.83 million
Manchester City are the only club to have spent more than a billion pounds on acquiring new players over the last six years. They are also the team with the most Premier League trophies in their cabinet over the time period (four PL titles).
A club also needs to be well managed internally, and the scouting department needs to have a success rate. The most City have spent on one player is £105.75 million for Jack Grealish. It happened last summer when they signed the English international from Aston Villa.
Manchester City fans will have no problem ranking lowest on this list. The club will continue to back Pep Guardiola, and he will likely continue to win titles as long as he is in charge.
They have also sold players for hundreds of millions in value. Their net spend stands at -£632.83m.
#5 Manchester United - Net Spend - £-603.01 million
Manchester United have also spent lavishly. However, unlike their local rivals, United have been unable to direct that spending into a productive and winning team.
United have a negative net spend of £603.01. It is close to that of City's net spend. However, their last Premier League title came in 2013 under Sir Alex Ferguson. Their record signing remains Paul Pogba, who was signed for £94.5 million in 2016.
Since 2016, United have spent £832.23 million on signing new players. All they have to show is a Europa League and a League Cup, which they won in 2017.
The club have appointed Erik Ten Hag for the upcoming season and have made structural changes behind the scenes. It is yet to be seen whether these moves will pay any dividends.
#4 Arsenal - Net Spend - £-423.25 million
Arsenal have not played Champions League football since 2016, and they have not won the Premier League since 2004. Arsenal have managed to win two FA Cups since 2016.
Arsenal fans were promised riches when they moved to The Emirates from Highbury in 2006. They were one of the top clubs in Europe at the time, but mismanagement and toxicity has left the club in a poor state.
Arsenal have spent £693.13 million since 2016, but that money has been poorly invested. The club had a good window last summer, acquiring players like Takehiro Tomiyasu and Ben White, among others.
The Gunners are trying to spend sensibly now, but there are still questions over Mikel Arteta as a manager and whether the club are spending enough. 2022-2023 should be an interesting season for the Gunners.
#3 Chelsea - Net Spend - £-262.05 million
Chelsea have a good net spend, but that is because they are really good at selling players as they are at investing money to buy players. Since 2016 the club have spent £911.07 million on signing players and sold £649.02 million worth of players. Chelsea can sell academy talent and surplus players at high value thanks to Marina Granovskaia, their current director of football.
Chelsea recently changed ownership, with Todd Boehly taken the reigns of the club following the sale by Roman Abramovich. Boehly has promised to back Thomas Tuchel this summer and then progress to a Liverpool-style model from 2023. The club have won the same number of trophies as Liverpool since 2016 and should continue to stay competitive in world football.
#2 Liverpool - Net Spend - £-258.78 million
Yes, Liverpool have a negative net spend, and yes, they also spend money on acquiring players. Liverpool have spent £627.24 million since 2016, which is considerably less than Manchester City. That is approximately a difference of 400 million. Liverpool have one Premier League title, the same as Chelsea since 2016, spending similar amounts.
Liverpool's most expensive transfer is Darwin Nunez, who was signed for a £85 million fee with add-ons. Liverpool have been lauded for their scouting and their success rate with their transfers.
Rarely do the players that Liverpool buy fail to live up to expectations. Liverpool just don't spend with the frequency that City do, and maybe that is why they have fewer Premier League titles to show for it.
#1 Tottenham Hotspurs - Net Spend - £-253.37 million
Tottenham Hotspurs are the only club on this list to not have won any kind of legitimate trophy in the period following 2016. Tottenham are also the only club on this list to have voluntarily spent zero pounds in the transfer window during the 2018-2019 season. They have spent £505.71 million since 2016, the fewest of any of the big six clubs.
Tottenham have a brilliant stadium, but Daniel Levy has rarely backed his managers in the transfer market. This summer seems to be different because Levy appears to be backing Italian boss Antonio Conte.
