Top Winners and Losers of the 2026 Summer Transfer Window

The summer transfer window for 2026 has come to a close after nearly three months of intense activity. This season, the English Premier League once again dominated spending, accounting for nine of the ten most expensive transfers. The only exception was Yan Diomande's €125 million move from RB Leipzig to Real Madrid. Yet many deals raised eyebrows due to inflated fees paid for relatively unproven players like Morgan Rogers and Elliot Anderson.

Winners

Saudi Pro League: Despite initial doubts about the Kingdom's sporting investment cooling off, recent signings such as Francisco Trincao, Tijjani Reijnders, Crysencio Summerville, Ollie Watkins, and Gabriel Martinelli demonstrate that the league still attracts top talents in their prime. Pep Guardiola previously predicted the Saudi Pro League's rise, and these moves confirm its growing financial pull.
Arsenal: Though missing out on Vinicius Junior, Morgan Rogers, and Julian Alvarez, Arsenal strengthened well with key additions like Ezri Konsa, Bruno Guimaraes, and Christos Tzolis. Selling Martinelli for a club-record £56 million further boosted their finances. The reigning Premier League champions have bolstered an already strong squad, positioning themselves for another title run.
Jose Mourinho at Real Madrid: After a period of decline, Mourinho has returned to one of football's top jobs thanks to Florentino Perez's faith. Backed by significant spending on Marc Cucurella, Denzel Dumfries, Bernardo Silva, Ibrahima Konate, and Yan Diomande, Mourinho now commands a powerful squad. The pressure is high but excuses will be few if success doesn't follow.
Barcelona: For the first time since before the pandemic, Barcelona managed to register all new signings ahead of the La Liga season, signaling an end to their financial struggles. President Joan Laporta's gamble and sporting director Deco's savvy moves, including offloading high earners and cashing in on academy players, have freed Barca from budget constraints for next summer’s window.
Ruben Amorim at AC Milan: Following a rough spell at Manchester United, Amorim has found new life at Milan. Supported by the club’s record transfer spending, including €74 million on Goncalo Ramos, Amorim has started the season unbeaten and appears ready to rebuild his reputation among football’s promising coaches.
Bayern Munich: Bayern secured smart additions like Ismael Saibari and Nathanial Brown while holding onto Michael Olise despite Real Madrid interest. These moves suggest Bayern remain strong contenders in both the Bundesliga and Champions League.
Elite Sellers: Clubs like PSG, Chelsea, and Manchester City made huge profits by selling surplus players. Notably, Manchester City recouped £85 million for Savio, despite limited impact at the club. This seller’s market reflects inflated prices amid a shortage of proven world-class talent.

Losers

Mohamed Salah: The winger’s unexpected transfer to Trabzonspor ended with an embarrassing Europa League exit and no European competition beyond the Conference League this season. Despite his commitment, Salah likely regrets leaving Liverpool and pricing himself out of stronger European clubs.
Manchester United’s Defence: Despite some midfield reinforcements, the Red Devils failed to address their defensive weaknesses. Starting Luke Shaw at left-back and a fragile backline saw them concede four goals in their first two Premier League matches, raising serious concerns for their title ambitions.
Richard Hughes and Liverpool: Responsible for the club's most expensive signings, Hughes leaves Anfield after a disappointing summer marked by inconsistent recruitment. New coach Andoni Iraola faces challenges with a squad lacking depth, especially in defence and midfield.
Julian Alvarez: Eager to join Barcelona, Alvarez was blocked by Atletico Madrid’s high asking price and principled stance. His refusal to consider alternatives led to tensions, and after missing a match due to illness, he faces an uncertain future amid a hostile reception from fans.
Aston Villa: After winning the Europa League, Villa dismantled much of their squad for financial reasons. Key players like Lucas Digne, Emiliano Martinez, Morgan Rogers, Ezri Konsa, Youri Tielemans, and Ollie Watkins departed. Early Premier League defeats underscore the difficult rebuilding task ahead under Unai Emery.
Marcus Rashford: Despite a solid loan at Barcelona, Rashford's hopes of a permanent move were dashed when the club chose Anthony Gordon instead. Returning to Manchester United, Rashford has worked hard to regain his place but missed out on his dream transfer.
Tottenham Hotspur: Spending heavily yet inefficiently, Spurs paid exorbitant fees for several players but remain short on quality and balance. Early heavy defeats highlight problems despite the large outlay, putting coach Roberto De Zerbi under significant pressure.
Everton: The club struggled to reinforce adequately, failing to replace departing players like Beto and Iliman Ndiaye. A lack of transfer activity and poor recruitment decisions leave manager David Moyes with limited options up front and defensive concerns.