Chelsea made the biggest net profit of any club in the world in the last two transfer windows, according to CIES Football Observatory.
The Blues spent just over £38m on Mateo Kovacic in the summer, when they served their transfer ban to FIFA but recouped £173.7m in sales.
At the other end of the scale Real Madrid who paid Chelsea, an initial reported £85m plus add-ons for Eden Hazard last summer. They have £153m negative balance when it came to transfers.
Aston Villa were second to Real, spending £146m and earning just £2.5m, for a balance of -143m euros.
Most positive transfer balances

Most negative transfer balances

Source:
CIES
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