According to the findings of the CIES Football Observatory, Manchester United have "overspent" on transfers more than any other club in Europe since the year 2012. This is particularly true when compared to other European clubs. In order to produce a list that will grab people's attention, Manchester United and Manchester City, along with their rivals from the five major divisions across the continent, were ranked.

The CIES looked at transfers involving teams from England, Italy, Spain, Germany, and France and found that United spent the most money relative to the value of the players they acquired. In contrast, our neighbors in City were ranked 17th in the Premier League, which highlights the tremendously successful work they have done in the market over the course of the last ten years.

The figures presented here were derived from incomings since July 2012 and from teams that have paid fees for at least 10 players during that timeframe. United conducted an analysis of 33 major signings, and it was determined that their total spending (1.59 billion euros) was 238 million euros more than what the market was willing to bear for those players at the time.

According to this interpretation, the Old Trafford giants have "overspent" by an amount equal to 18% of their total budget. That was by no means the highest percentage in the Premier League or anywhere else in Europe, but the overall gap between spending and valuation is almost €90million more than Aston Villa (€149million) in domestic competition and €4million more than Juventus (€234million) in European competition.

The top five teams in terms of European revenue are completed by Paris Saint-Germain (162 million euros) and Real Madrid (148 million euros). Only three current Premier League clubs, Brighton, Tottenham, and Wolves, are considered to have "underspent" on their incomings since July 2012, according to the same data. These clubs are Brighton, Tottenham, and Wolves.