The Big Spenders: 10 Managers Who’ve Splashed the Cash Since Their Last Trophy
In modern football, money is often seen as the shortcut to success. Huge transfer budgets can bring in world-class players, but they don’t always guarantee trophies. Some of the game’s biggest names have continued to spend heavily since their last triumph, yet silverware has remained elusive. Here are the 10 managers who have spent the most since lifting their last major honor.
10. David Moyes – £200.2m
David Moyes lifted the Conference League with West Ham in 2023, marking a rare highlight in his long career. Since then, he has returned to Everton and invested over £200 million in new players. Yet, the Toffees remain far from silverware, and his spending spree has not paid off in terms of trophies.
9. Marcelino – £216.6m
Spanish veteran Marcelino guided Athletic Club to the Supercopa in 2021, his last piece of silverware. Since then, he has moved between clubs in Spain and France, spending more than £216 million. Despite his experience and backing in the transfer market, no new titles have arrived.
8. Stefano Pioli – £249.4m
Stefano Pioli’s shining moment came in 2022 when he led AC Milan to the Serie A crown. But his career since has been a mix of challenges, including a stint in Saudi Arabia before returning to Italy. With nearly £250 million spent since that triumph, another trophy still feels far away.
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7. Arne Slot – £253.7m
Arne Slot shocked the football world by winning the Premier League with Liverpool in 2025, his debut season in charge. But in the months that followed, he was heavily backed with major signings such as Jeremie Frimpong and Florian Wirtz. His spending has already topped £250 million, putting him high on this list so early in his English career.
6. Erik ten Hag – £286.5m
Erik ten Hag delivered the Carabao Cup in 2023 and the FA Cup in 2024 with Manchester United. However, a poor league run and big spending on stars like Matthijs de Ligt and Manuel Ugarte led to his eventual dismissal. Now at Bayer Leverkusen, he is still searching for success despite spending nearly £300 million since his last trophy.
5. Niko Kovač – £351.4m
Niko Kovač enjoyed early success in Germany, lifting trophies with Eintracht Frankfurt and Bayern Munich. But since then, his stints at Monaco, Wolfsburg, and Borussia Dortmund have cost over £350 million. Despite that heavy outlay, he has not been able to add another trophy to his record.
4. Pep Guardiola – £378.2m
Pep Guardiola, often hailed as one of the greatest tacticians in modern football, last lifted a trophy in 2024 when Manchester City won the league. The 2025 season brought no silverware, despite significant investment. Spending almost £380 million since then, Guardiola will be under pressure to quickly bring City back to winning ways.
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3. Unai Emery – £407.5m
Unai Emery’s last trophy came in 2021 with Villarreal when he won the Europa League against Manchester United. Since then, he has transformed Aston Villa, returning them to Champions League football. However, his pursuit of silverware in England has already cost over £400 million without reward.
2. Diego Simeone – £461.9m
Diego Simeone guided Atlético Madrid to the La Liga title in 2021, powered by Luis Suárez’s goals. Since then, nearly half a billion pounds has been spent to try and match that success. Big-money signings, including Julián Álvarez, haven’t yet ended his silverware drought.
1. Mikel Arteta – £863.4m
Mikel Arteta’s last trophy remains the FA Cup in 2020, and since then Arsenal have invested nearly £1 billion under his leadership. Despite reaching several finals and finishing as runners-up, the club has not crossed the finish line. With £863 million already spent, only the Premier League or Champions League will satisfy expectations.
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