Manchester United and Chelsea are the Premier League clubs to have lost the most money on transfers over the past nine years, according to Football Observatory.

Paris Saint-Germain top the list, having made a net loss of £532.25m since 2015, but the Premier League dominated with six clubs in the top 10.

Many non-big-5 league teams feature in the top twenty clubs with the most positive transfer records over the last ten years. Benfica (+€816 million) is clearly in the lead. The Portuguese side is ahead of two other European clubs from outside the big-5 leagues: Ajax (+€473 million) and RB Salzburg (+€401 million). LOSC Lille is first among teams from the five major European competitions (+€391 million) and Athletico Paranaense among non-European clubs (+€200 million).