As transfer fees continue to rise with seemingly each passing year, financial fair play has become more important than ever and it’s something all Premier League clubs have to follow. They risk facing sanctions such as points deductions if they don’t, as sides like Everton and Nottingham Forest have realised recently. Other punishments include transfer embargoes, something Chelsea went through several years ago too.
Heading into the summer, The Athletic have estimated how much money every team in the top flight can afford to lose this year before they will breach the current Premier League financial regulations. June 30 marks the end of the 2024/25 accounting period for 15 of the division’s sides. Liverpool, West Ham United and Arsenal (May 31) and Burnley and Sunderland (July 31) are the exceptions to that.
That deadline has become crucial for teams operating in the top flight and the Premier League’s profit and sustainability rules (PSR) will place a limit on how much each side can afford to lose before breaching them. This isn’t necessarily how much they can spend on transfers specifically, but how much they can lose across the board.
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The teams with the least to lose include Burnley and Aston Villa
Only one team is estimated to actually need to make a profit before their PSR deadline or else risk breaching the rules and that is Burnley. The Lancashire club was recently promoted back to the top flight, but after bouncing between the top two divisions over the last few years, they’ve lost quite a substantial amount of money. According to The Athletic, the Clarets need to make £20m soon to avoid sanctions.
Ahead of them, and the only team considered at serious risk of breaking rules, is Aston Villa. Having missed out on the Champions League this season, the club lost out on a large amount of cash and can afford to lose just £15m going forward. Above Unai Emery’s side is Sunderland, Bournemouth and Everton, who are estimated to be able to lose £33m, £35m and £39m respectively.
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Arsenal and Liverpool feature here
In the middle of the pack, both Liverpool and Arsenal are included. Leeds United are 15th, with the Championship winners having £42m that they’re able to lose before they run the risk of facing sanctions. Wolverhampton Wanderers (£56m) and Brentford (£58m) are just ahead of the Yorkshire club.
Despite winning the Premier League title, Liverpool are next, with £75m their limit to lose. That hasn’t deterred the club from getting busy in the transfer market, bringing some quality players through the door, such as Jeremie Frimpong. Fulham can lose around £77m and Nottingham Forest can lose £85m. While they made it back into the Champions League, and are set to receive a nice amount of money as a result, Newcastle United can afford to lose £83m.
The last three teams included in this section are Crystal Palace (£90m), West Ham United (£95m) and Arsenal (£95m). The Gunners face a busy summer this year, with the club desperately needing to strengthen their side if they’re to finally get their hands on the Premier League trophy once again. They’re also the last team who can’t lose more than £100m without breaching financial fair play rules.
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No team can afford to lose more than Chelsea
The first team who can lose more than £100m, is Manchester United. The Red Devils just suffered through their worst ever Premier League campaign, finishing trophyless and 15th in the table. They’ve acted quickly as a result, signing Matheus Cunha and are reportedly close to bringing Bryan Mbeumo through the door too. Under Sir Jim Ratcliffe, they’ve employed a number of different cost-cutting measures and can now afford to lose £141m before they break any financial rules.
Tottenham Hotspur recently won their first trophy in 17 years, beating United in the Europa League final. Whether or not Ange Postecoglou will be the man who leads them going forward remains to be seen, but the club will be back in the Champions League next season and will have plenty of money as a result. According to The Athletic’s estimates, they can afford to lose £277m. That’s just £15m less than Manchester City.
Pep Guardiola’s men had a disappointing 2024/25, underperforming and finishing third in the Premier League. They also missed out on any silverware at all, but will almost certainly be spending big to rectify that this time around. They can lose £292m before breaching the PSR. In second place, it’s Brighton & Hove Albion. Under Fabian Hurzeler, the Seagulls had a solid campaign and have been operating an incredibly sustainable model over the years.
Known for signing unknown commodities for cheap and turning them into quality players, before selling them on for huge profits, the club’s finances are looking very healthy right now and they can afford to lose up to £295m before breaking any rules. The team who can lose more than anyone else, though, is Chelsea. The Blues have spent huge amounts of money in recent years, but they’re still in excellent financial shape right now.
Todd Boehly’s men returned to the Champions League this year after a spell out of the competition and they’ve already begun recruiting for their return. They’ve signed Liam Delap and are linked with a number of other top players this summer. They can afford to lose £300m before they break any financial rules and it’s hard to imagine they will be placed under any form of transfer embargoes again anytime soon.
| How much money every Premier League club can lose before breaching financial rules | ||
|---|---|---|
| Rank | Club | Amount of money they can lose |
| 1 | Chelsea | £300m |
| 2 | Brighton & Hove Albion | £295m |
| 3 | Manchester City | £292m |
| 4 | Tottenham Hotspur | £277m |
| 5 | Manchester United | £141m |
| 6 | Arsenal | £97m |
| 7 | West Ham United | £95m |
| 8 | Crystal Palace | £90m |
| 9 | Nottingham Forest | £85m |
| 10 | Newcastle United | £83m |
| 11 | Fulham | £77m |
| 12 | Liverpool | £75m |
| 13 | Brentford | £58m |
| 14 | Wolverhampton Wanderers | £56m |
| 15 | Leeds United | £42m |
| 16 | Everton | £39m |
| 17 | Bournemouth | £35m |
| 18 | Sunderland | £33m |
| 19 | Aston Villa | £15m |
| 20 | Burnley | -£20m |
All statistics courtesy of The Athletic and accurate as of 05/06/2025
