From 2015 through 2024, Manchester City and Manchester United each committed about €1.95 billion in transfer fees, including add-ons. But once transfer income is deducted, United’s net outlay was €1.304 billion, compared with City’s €703 million. That left United’s net spending €601 million higher over the same period.
How the clubs compare, 2015–2024
The clearest like-for-like comparison is the CIES Football Observatory’s review of transfer operations from 2015 through 2024. Its gross figures represent committed transfer fees, including add-ons; net spending accounts for transfer income. In the net column, the minus sign indicates that fees committed exceeded receipts from transfers out.
| Club | Committed transfer fees | Net transfer spending |
|---|---|---|
| Manchester City | €1.95bn | −€703m |
| Manchester United | €1.95bn | −€1.304bn |
These are rounded gross totals as displayed in CIES Monthly Report 97. The net figures are reported in millions. Subtracting City’s net figure from United’s gives a €601m larger net outlay for United; that difference is a calculation from the two reported totals, not a separate CIES statistic.
Why similar gross fees produced different net spends
The gross totals are essentially level at the report’s displayed precision. The gap emerges when transfer receipts are taken into account: City’s net figure is less negative, meaning its transfer income offset more of its committed spending over the period than United’s did. These balances compare transfer fees and sales receipts; they are not a full measure of squad-building or club operating costs.
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United’s annual balances in the CIES decade
CIES says United recorded a negative net transfer balance in each of the ten years it analysed. Its largest annual deficit in that series was €234m in 2022. The decade total therefore reflects a repeated pattern in that dataset, rather than a negative balance confined to one unusually costly year.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why other “last decade” figures differ
Ten-year transfer-spending estimates depend on the dates covered and the dataset used. They should not be combined with the 2015–2024 CIES figures as though they measured the same period.
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| Source and period | Manchester City | Manchester United | What it measures |
|---|---|---|---|
| CIES, 2015–2024 | −€703m | −€1.304bn | Net transfer spending; the CIES report includes 2015 through 2024. |
| BBC report of CIES figures, 2014–2023 | £733.8m net outlay | £1,196.6m net outlay | A different ten-year window. BBC says this dataset includes fixed fees, fee-paying loans and add-ons, whether or not already paid. BBC Sport’s 2014–2023 report. |
| BBC analysis, published 12 April 2024 | £890m net spend | £1.18bn net spend | A separately sourced BBC ten-year analysis; it is not the same comparison as the CIES 2015–2024 series. BBC Sport’s analysis. |
BBC’s report on the CIES 2015–2024 results also rounds the clubs’ gross spending differently—€1.96bn for City and €1.95bn for United—while the CIES report displays both as €1.95bn. For consistency, the main comparison above uses the original report’s displayed gross amounts and its net figures. BBC Sport’s coverage of the 2015–2024 results.
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