With the Premier League having found Manchester City guilty of 114 violations tied to an estimated $1 billion in illegal extra spending, an ESPN analysis asks a different question about the past decade: which clubs got the most out of their money? City have won six of the past nine league titles and currently lead the table this season, while a punishment is widely expected.
The analysis argues that the league was never a level field. Arsenal won last season's title with an estimated payroll of about €219.3 million, while Brentford had the smallest at €62.9 million. Aside from Leicester City's 2015-16 title, the champion has always been among the richest clubs.
To build the ranking, the author took the 20 clubs that played the most matches across the last 10 full Premier League seasons. Wage estimates came from FBref and transfer spending from Transfermarkt. Each club's average annual payroll was combined with its average annual net transfer spending, then divided by the points it won, producing a figure in millions of euros per point. The league average was €2.8 million per point.
Brentford lead at €1.2 million per point. They rank last in total spending but ninth in points. A trend line suggests a team with their spending would be expected to earn about 41 points a season, yet they have averaged about 51, roughly 24% above expectation. The piece credits an approach built on understanding risk, from hiring managers to buying and selling players, and notes they take higher-quality shots while conceding lower-quality ones. Brentford also put 75% of revenue into wages, per Deloitte, compared with 56% for the Big Six on average.
Bournemouth follow at €1.7 million per point, then Brighton at €1.8 million. They are the only three clubs under €2 million. The author points to Bournemouth's decision to replace Gary O'Neil with Andoni Iraola despite a comfortable 15th-place finish, and to the club staying patient through a winless start of nine league matches. Bournemouth then finished 12th, ninth and sixth. Brighton have not finished lower than ninth since a rough first four seasons after promotion, and currently sit third with the league's best goal difference.
Watford (€2 million), Burnley (€2.1 million) and Wolverhampton (€2.2 million) come next, with Newcastle and Aston Villa both at €2.3 million. The article adds a caveat on Wolves, saying the club's links to agent Jorge Mendes mean financial figures should be treated skeptically. It also says new financial rules have forced Newcastle and Villa to dismantle recently successful squads rather than keep spending near the Big Six.
Liverpool rank 11th at €2.7 million per point, slightly better than average, with the fifth-highest total spending. Their average annual net transfer spend was €65 million, against €109 million for the rest of the Big Six, as they put more into wages. Tottenham are 15th at €3.4 million. The piece notes that overachieving clubs generally devote a larger share of spending to wages, while underachievers lean on the transfer market.
Near the bottom are Southampton at €3.5 million, Manchester City at €3.6 million and Arsenal at €3.8 million. The author notes City's offenses were financial rather than on-field, and that even their reported spending was more efficient than that of three other clubs. Arsenal's figure is weighed down by weak early seasons, and from 2023-24 through 2025-26 they led the league in net transfer spending. The source text ends before the remaining clubs are covered.
