AC Milan and Man Utd in top 10 - Which clubs have lost the most market value in 2025?

Top 20 revealed 

So far 2025 has been a tremendous year for a number of Europe’s biggest clubs. Paris Saint-Germain won the Champions League, Liverpool, Bayern Munich and Barcelona won their respective leagues and as things stand Mikel Arteta’s Arsenal side are leading the charge at the top of the Premier League, as they look to win their first top-flight trophy since 2004. But with every winner there must also be a loser and when it comes to Transfermarkt’s market values, there have undoubtedly been a number of clubs across the continent’s top five leagues that have seen their stock plummet since the start of the year.

As noted in our article on which clubs have gained the most squad market value in 2025, the quickest way for a club to gain or lose market value in the short-term is by buying or selling players. Naturally, players performing remarkably well on the pitch often corresponds to huge upgrades in market value, but no single player can hold back the tide of a club that either actively opts to sell their best players or is under wider constraints to succumb to the demands of the transfer window. As such, most of the clubs on our top 20 list of squads that have lost the most market value in 2025 so far are clubs that would be typically labelled as selling clubs in each and every transfer window.

Indeed, when we take a look at the top 20 clubs to earn the most money from players sales in the summer window we find that no less than seven of them feature on today’s list. Whether that be Nice (€108m in player sales; €37m drop in squad market value), Lille (€110m in sales; -€80m drop), Monaco (€117m in sales; €34m drop), Brighton (€146m in sales; €98m drop), AC Milan (€176m in sales; €62m drop), RB Leipzig (€195m in sales; €159m drop) or most notably Bayer Leverkusen, who sold no less than €230m worth of players in the summer transfer window and despite spending close to that sum of money on new players in the same window, still saw their overall squad market value drop by €183m.

However, not everything has been decided by player sales in 2025. For example, Aston Villa’s squad market value has so far dropped by €56m in this calendar year and that is largely due to star players losing market value across Unai Emery’s team; John McGinn (-€7m in 2025), Ian Maatsen (-€7m), Emiliano Martínez (-€9m), Amadou Onana (-€13m), Pau Torres (-€15m) and Ollie Watkins (-€20m to name just a few examples). The same can be said for Manchester United, whose €65m drop in squad market value can largely be equated to stars like Diogo Dalot, Joshua Zirkzee, Lisandro Martínez and Manuel Ugarte losing a collective €56m in market value this season. But perhaps the most drastic drop off has been seen at Spanish side Real Sociedad, who have lost €174m in squad value in 2025 and that’s largely due to nine of their first team players making up the top 25 biggest drops in market value in LaLiga since January 1.