List of the Winners & Losers of the 2025 Summer Transfer Window

September 24, 2025 Oliver Obel

The 2025 summer transfer window was one of the most dramatic in recent memory. Liverpool shattered records, Arsenal quietly built a super squad, and some of Europe’s biggest names were left frustrated. Here’s a look at the biggest winners and losers, starting from the very bottom.

LOSER: Barcelona

FC Barcelona — Photo: charnsitr / Shutterstock.com

Barcelona endured yet another frustrating summer on the transfer front. They failed to land Nico Williams due to financial constraints and could only register Joan Garcia and Marcus Rashford after freeing up cap space thanks to a timely injury to Marc-Andre ter Stegen. This window was a painful reminder of how far Barca’s finances still have to go before they can compete freely again.

LOSER: Wantaway World Cup Hopefuls

Kobbie Mainoo and Rodrygo both wanted moves to secure more game time ahead of the 2026 World Cup, but neither got their wish. Mainoo was blocked from leaving Manchester United on loan while Rodrygo’s rumoured Premier League switch never materialised. Both now face a battle for minutes in what could be the most important season of their careers.

LOSER: James Trafford

Manchester City’s young goalkeeper looked set to take over from Ederson, but that dream was crushed when Pep Guardiola swooped for Gianluigi Donnarumma. Trafford is now staring at a season on the bench, which could stall his development and damage his England hopes. His return to City has quickly turned from a dream to a nightmare.

LOSER: Raheem Sterling

Once Chelsea’s marquee signing, Sterling is now one of the biggest disappointments of the Boehly era. After a failed loan spell at Arsenal, no club came in for him this summer, leaving him likely to spend the season on the sidelines. His decline has been one of the most dramatic in recent Premier League history.

LOSER: England’s Middle Class

AFC Bournemouth — Selman GEDIK / Shutterstock.com

Brentford, Bournemouth, and Aston Villa were among the hardest hit this summer. Key players and managers departed, defences were dismantled, and Newcastle were left humiliated by a series of rejections – including Isak’s own push to leave. The Premier League’s elite have reasserted their dominance, leaving the middle class scrambling to keep up.

LOSER: Bayer Leverkusen

After Xabi Alonso’s departure, the club’s core was stripped away with Wirtz, Frimpong, Tah, Boniface, and Hincapie all leaving. The chaos led to Erik ten Hag being sacked after just two games, turning Leverkusen from domestic double winners into a full-blown crisis club. It was a nightmare summer for Germany’s champions.

WINNER: Sunderland

Sunderland went all-in this summer, spending £180m on an ambitious recruitment drive. New arrivals such as Brian Brobbey, Bertrand Traore, Simon Adingra and Granit Xhaka have already helped them make a bright start to the season. The Black Cats might just avoid the dreaded relegation drop that has plagued promoted teams in recent years.

WINNER: The Premier League

England’s top flight is now in a league of its own financially. Liverpool alone outspent almost the entire La Liga combined, showing just how big the gulf has become between the Premier League and the rest of Europe. The so-called “Super League” may have failed, but the Premier League has created one of its own.

WINNER: Jack Grealish

Grealish’s move to Everton looks like a masterstroke for both player and club. The winger has rediscovered his spark and is playing with freedom, quickly becoming a fan favourite at Hill Dickinson Stadium. His England hopes for 2026 are looking a lot brighter after this career reset.

WINNER: Arsenal

Arsenal quietly outspent everyone with a bigger net spend than Liverpool and strengthened every area of their team. Viktor Gyökeres provides the goals they have long craved, Zubimendi and Eze add creativity, while Mosquera and Hincapie add defensive depth. Mikel Arteta now has no excuses – it’s trophy time or bust.

WINNER: Striking Strikers

Alexander Isak and Yoane Wissa forced their moves and were rewarded, while Marc Guehi stayed professional but was left stranded. The message this summer seems clear: striking works. Whether that’s good for football remains up for debate, but for these forwards, it paid off.

WINNER: FSG & Liverpool

Liverpool’s owners Fenway Sports Group silenced their critics with a record-breaking window. They landed Alexander Isak, reinforced the squad heavily, and sold cleverly to stay clear of PSR trouble. Liverpool look like the team to beat in the Premier League – and their ownership is finally being celebrated.