Premier League’s most transfer-efficient clubs: Where do Arsenal, Liverpool rank?

Not every pound spent in the transfer market comes back in value, and the gap between what a squad cost to assemble and what it is currently worth can offer an indication of how effectively a club has recruited.

Using Transfermarkt data as of September 4, 2026,  this piece measures that gap for all 20 Premier League clubs through an efficiency ratio, calculated as current squad market value divided by the recorded transfer fees paid for the players currently in that squad, with free transfers and academy graduates assigned a cost of £0.

A ratio above 1.00 means a club's squad is currently valued above its recorded acquisition cost, while anything below 1.00 means its estimated market value falls short of that outlay. The figures use an exchange rate of €1 = £0.8592 and exclude players currently out on loan.

Here, Football Whispers provides a comprehensive look at the transfer efficiency of all 20 Premier League clubs.

Premier League‘s most and least transfer-efficient clubs

Which Premier League club is the most and least transfer efficient?

Crystal Palace top the division with an efficiency ratio of 1.63, having built a squad that Transfermarkt values at £508.0m from £311.4m in recorded transfer fees, leaving a positive gap of £196.6m.

That reflects a recruitment model which has often combined relatively modest fees with players whose estimated market values have subsequently risen.The current figures show that several Palace players are valued by Transfermarkt above the recorded fees paid to acquire them, helping the club post the strongest ratio in the division.

At the opposite end of the table are Newcastle United, whose ratio of 0.77 makes them the least efficient side in the Premier League. Their squad is valued at £520.8m against purchase costs of £678.6m, leaving a shortfall of £157.8m.

That gap is partly explained by the size of the fees paid for established or highly rated players. Nico Gonzalez, for example, arrived from Manchester City for an initial fee of €56m but is currently valued by Transfermarkt at €40m, while Newcastle have also invested heavily in younger additions such as Matias Fernandez-Pardo.

Fernandez-Pardo joined from Lille for a reported fee of £51.4m, meaning there is considerable scope for his market value to change over time. For now, however, the current figures show that Newcastle's overall estimated squad value remains below its recorded acquisition cost.

Top five most transfer-efficient clubs in the Premier League

Palace's position at the top is followed by Sunderland, Leeds United, Bournemouth and Coventry, with all five clubs recording ratios of at least 1.36.

Sunderland sit second at 1.53, with a squad valued at £362.3m against £236.8m in recorded purchase costs. Their position reflects a wider squad-building strategy built around established players, younger additions and lower-cost recruits since their return to the Premier League.

Leeds United are third at 1.41 after assembling a squad valued at £350.2m for £248.9m in recorded fees. Harry Wilson is particularly notable in this calculation after joining on a free transfer from Fulham, while James Justin arrived from Leicester City for a relatively modest fee and has since carried a higher Transfermarkt valuation.

Bournemouth's 1.37 ratio comes from a squad valued at £493.7m against £359.4m in purchase costs. The figure reflects a recruitment model focused on players with the potential to increase in value, although some of the club's best-known examples, such as Dean Huijsen, have since been sold and are therefore not included in the current calculation.

Coventry round out the top five at 1.36, with their squad valued at £239.5m against £176.4m in recorded fees. Their promotion under Frank Lampard came after a period of squad building that included free transfers and relatively inexpensive additions, while the current squad's estimated value remains comfortably above its recorded acquisition cost.

Top five least transfer-efficient clubs in the Premier League

Newcastle's 0.77 ratio makes them the least efficient side, with Tottenham next at 0.80 and Liverpool and Manchester United tied at 0.90.

Tottenham's squad is valued at £707.6m against £885.0m in purchase costs, a shortfall of £177.4m, with expensive additions such as Sandro Tonali, Savinho and Mateus Fernandes currently valued below their acquisition costs.

Liverpool's squad is valued at £883.3m against £979.5m in recorded purchase costs, a £96.2m shortfall, despite the success of lower-cost additions such as Alexis Mac Allister. The figure comes after significant squad turnover, with Liverpool making major sales while also reinvesting heavily during the summer transfer window.

Manchester United have a squad valued at £795.8m against £885.0m in purchase costs, leaving an £89.2m shortfall. The figure reflects the difficulty United have had in retaining the market value of some expensive signings, although their squad has also undergone significant changes during the summer transfer window.

Ipswich Town complete the bottom five at 0.92, with their squad valued at £284.0m against £309.4m in purchase costs, a £25.4m shortfall. They spent more than £100m after returning to the Premier League in 2024 but were relegated the following season before securing an immediate return in 2026, meaning their current squad has since been rebuilt.