Another summer, another record-breaking transfer window. The 2025/26 edition has officially slammed shut — and it was wild.
For the first time, clubs had two chances to splash their cash thanks to FIFA’s special June registration window before the expanded Club World Cup.
Add that to the usual late-August chaos, and we got a summer full of shocks, power moves, and some flat-out disasters.
The Premier League broke spending records again (surprise, surprise), and Europe’s giants scrambled to either reload or regroup.
Some nailed it. Some fumbled it. And a few just ended up… somewhere in between.
Let’s break it down: the winners, the losers, and the head-scratchers of the 2025/26 transfer market.
The Winners of the Summer Transfer Window 2025/26
Liverpool – The Big Spenders Who Went All In
Liverpool didn’t just spend money — they made it rain.
Twice this summer, they broke the British transfer record. First, £100m (plus add-ons) for Florian Wirtz. Then, £130m for Alexander Isak on deadline day.
And they weren’t done there. Hugo Ekitike (£69m), Milos Kerkez (£40m), Jeremie Frimpong (£29m), and Giovanni Leoni (£26m) all came through the door.
Oh, and Salah and Van Dijk signed new deals.
On exits? They were ruthless. Diaz, Nunez, Quansah, and others left, raking in £200m.
The only hiccup? Missing out on Marc Guéhi after Palace couldn’t find a replacement.
It’s a lot of change in one summer, but if Arne Slot(and his rotation brain) makes it work, Liverpool just built a monster.
Arsenal – Squad Depth at Last
Mikel Arteta wanted depth. He got depth. Arsenal brought in eight players, and crucially, they cover every area of the pitch.
Viktor Gyökeres, Eberechi Eze, and Noni Madueke boost the attack.
Martín Zubimendi and Christian Nørgaard anchor midfield.
Cristhian Mosquera and Piero Hincapié reinforce defense. And yes, even Kepa joined to back up David Raya.
The Gunners also flexed in the market: stealing Zubimendi from Liverpool’s clutches and gazumping Spurs for Eze. Early signs suggest this is the deepest Arsenal squad in years.
Real Madrid – Back With a Bang
Embarrassed by last season, Madrid came out swinging. First, they hired Xabi Alonso — modern, tactical, and exactly the reset they needed. Then came the signings.
Trent Alexander-Arnold for cheap? Check. Dean Huijsen and Álvaro Carreras to rebuild the backline? Smart. Franco Mastantuono, Argentina’s golden boy? That’s the cherry on top.
They only waved goodbye to Modric and Vazquez, and Rodrygo stayed despite links away. The result? A refreshed squad ready to dethrone Barça.
Barcelona – Quiet, But Clever
Barcelona’s wallet is still on life support, but Hansi Flick did what he could.
Joan García arrived to solve the keeper issue. Marcus Rashford came on loan. Roony Bardghji joined as a wild-card talent.
The big win? Keeping hold of key youngsters like Fermín López, who Chelsea tried to lure away. Barça didn’t splash cash, but they didn’t lose their core either — and that’s half the battle.
Chelsea – the spending spree continues
Chelsea, under Enzo Maresca, looks… well, like they have a plan?
Liam Delap and João Pedro arrived early and helped them win the Club World Cup. Garnacho, Jamie Gittens, Jorrel Hato, and Estevão Willian joined too.
They missed out on Simons and López, but overall, this was a smart window.
For once, Chelsea’s squad looks less like a chaotic FIFA Career Mode save.
Tottenham – The Silent Operators
No one’s talking about the Spurs, but they quietly had a killer summer.
New manager Thomas Frank brought in Kudus, Palhinha (loan), and Tel.
Yes, Son is gone. Yes, Maddison tore his ACL. But they pulled off the coup of stealing Xavi Simons from Chelsea, then capped it off with Randal Kolo Muani.
Depth. Firepower. And a coach who thrives on system football. Spurs might surprise a lot of people.
Stuck in the Middle
Manchester United – Two Steps Forward, One Back
United fans are split. Sesko and Lammens look like solid future pieces. The clear-out of deadwood (Antony, Garnacho, Sancho, Rashford) was overdue.
Cunha and Mbuemo are guaranteed to add goals, which they are in desperate need of.
But… No new central midfielder? That’s a head-scratcher.
This is a rebuild that feels half-done — progress, yes, but still painfully slow.
Manchester City – Good, But Weird
Reijnders and Aït-Nouri? Smart buys. Cherki and Donnarumma? Great talents, but not very Pep.
We’re delighted to confirm the arrival of Gianluigi Donnarumma! ✍️ pic.twitter.com/TKwXVTRGCz
— Manchester City (@ManCity) September 2, 2025
They sold Akanji and Ederson for peanuts, leaving depth questions. The squad looks younger and fresher, but are they actually better?
City’s summer wasn’t bad. It just wasn’t very… City.
The Losers of the Summer Transfer Window 2025/26
Newcastle United – From Ambition to Chaos
One word: Isak.
His desire to leave hung over Newcastle’s entire summer.
Liverpool got him in the end, and the Magpies scrambled for replacements — overpaying for Nick Woltemade and Yoane Wissa. Both solid, but not Isak.
They added Jacob Ramsey and Malick Thiaw, but the truth? Newcastle look weaker than last season. That hurts.
Bayern Munich – The Panic Button Window
This was ugly. Bayern missed out on Nico Williams and Rashford, lost Sané, Coman, and even Müller, and then watched Musiala get injured.
Their answer? Pay €75m for Diaz and take Nicolas Jackson on loan with a €65m obligation. That’s desperation, not strategy.
Even Jonathan Tah’s arrival came with big wages. Bayern look thinner, older, and short of inspiration. Not a good mix.
FAQs
Q: Which club spent the most in the 2025/26 transfer window?
Liverpool spent a whopping £412 million, smashing records with Wirtz and Isak among others
Q: Who made the best signing of the summer?
You could argue Wirtz to Liverpool, but Trent to Madrid feels like a game-changer.
Q: Which league dominated the market?
Once again, the Premier League outspent everyone by a mile
Conclusion
So, who won the summer? Liverpool and Arsenal look stacked. Real Madrid are back in business. Spurs are quietly dangerous.
Who lost? Newcastle look gutted. Bayern looks confused. United and City sit in limbo.
But here’s the thing: transfer windows aren’t won on paper. They’ve won on the pitch.
And when the Champions League kicks off, we’ll find out who really nailed it — and who just wasted a summer chasing shadows.
