Chelsea raked in the biggest net profit of any club in the world over the last two transfer windows, according to newly-released data.
The Blues were banned from making any signings last summer after breaching FIFA rules on the recruitment of young players and this has seemingly been reflected in the results.
The club spent just over £38m on signing Mateo Kovacic but made £173.7m in sales, over £30m more than second-placed Benfica.
According to the CIES Football Observatory, Real Madrid– who signed Eden Hazard from the London club for an initial £85m plus add-ons fee – were the least profitable club with £153m in negative balance.
Most surprisingly was the team second on that list as Premier League newcomers Aston Villa finished higher than Barcelona.
The Villans signed 13 new players after promotion while only receiving around £2m from player sales.
Premier League clubs had the biggest net deficit of Europe’s big five leagues, spending £715m more than they earned. Only Ligue 1 showed an overall profit, of £90m.
Chelsea were the only Premier League team in the top 10 in terms of net earners, something which should help them post improved financial figures for 2019-20 after recording a loss of £96m for the year ending June 30, 2019.
Chelsea made £173.7m net profit in the last two transfer windows, the highest in Europe
Benfica, who sold Joao Felix to Atletico Madrid last summer for a reported £113m, were in second place with a net profit of £141m, while Ajax were £116m up in third after selling star youngsters Matthijs de Ligt and Frenkie de Jong to Juventus and Barcelona respectively.
Villa were joined in the top 10 in terms of negative balance by Manchester United and Tottenham in fourth and fifth respectively, who spent £128m and £119m more than they earned.
Arsenal were in 11th place, spending £72m more than they earned.