Since the 2020-21 season, 11 Championship clubs have a positive net spend, while the other 13 have spent more on transfer fees than they’ve received.

While the lure of Premier League football is becoming increasingly lucrative, Championship clubs are spending more money than ever before in order to compete.

Clubs that have made it to the Premier League in recent years do have a significant financial advantage over those who haven’t, given they are in receipt of parachute payments.

The clubs that are relegated from the Premier League are given roughly £30million each season for three years.

Given the level of money that clubs need to spend in order to make themselves competitive when they do reach the Premier League, it won’t come as much of a surprise that newly relegated Ipswich, Southampton and Leicester all rank highly on the net-spend table.

Since 2020-21, Ipswich have a net spend of -€134.16million, with the bulk of that figure coming from last season in the Premier League.

Likewise, Southampton and Sheffield United have also made significant outlays in the transfer market in recent years, with both clubs having a net spend of above €35million.

Of the clubs in the top six of the net spend table, Coventry are the only side who haven’t received parachute payments in the last five years.

Instead, they’ve been able to generate funds via player sales, with the likes of Viktor Gyokeres and Gustavo Hamer being sold for significant fees.

However, despite those sales, Coventry still have a net spend of over €24million across the last five years. Since 2023-24, Coventry have spent around €60million on new players.

Interestingly, Wrexham have a slightly higher net spend than Birmingham since 2020, despite the Welsh club paying significantly less on transfer fees during the last five years.

That’s because Birmingham’s large spend has been offset by player sales like Jude Bellingham and Jordan James, whereas Wrexham haven’t had any major sales in recent years.

On the opposite end of the spectrum, Watford have made significantly more from player sales than they’ve spent in recent years.

In total, they made a net profit of over €160million in the transfer market since the 2021-22 campaign.

Since being relegated form the Premier League, the club has sold the likes of Yaser Asprilla, Ismael Kone, Joao Pedro, Ismaila Sarr, Hassane Kamara and Emmanuel Dennis all for significant sums of money.

Blackburn Rovers rank 23rd on the net spend table, having not spent much themselves and having sold the likes of Adam Wharton and Sammie Szmodics for significant profits.

Other clubs such as Middlesbrough, Swansea, Bristol City and Norwich have also generated significant funds via player sales and rank quite low on the net-spend table.

Using figures provided by Transfermarkt, here is the full breakdown of each Championship club’s net spend since the 2020-21 campaign.

1. Ipswich Town: -€134.16million
2. Southampton: -€59.46million
3. Sheffield United: -€36.64million
4. West Brom: -€28.05million
5. Coventry: -€24.68million
6. Leicester City: -€20.13million
7. Preston North End: -€12.09million
8. Wrexham: -€10.66million
9. Birmingham: -€8.17million
10. Charlton: -€5.58million
11. Millwall: -€4.27million
12. Portsmouth: -€4.27million
13. Sheffield Wednesday: -€3.89million
14. Oxford United: +€1.79million
15. Derby County: +€5.28million
16. QPR: +€9.07million
17. Stoke City: +€9.49million
18. Hull City: +€9.82million
19. Middlesbrough: +€20.41million
20. Swansea: +€23.60million
21. Bristol City: +€23.71million
22. Norwich City: +€35.31million
23. Blackburn Rovers: +€41.32million
24. Watford: +€169.31million

READ NEXT: The 5 biggest transfer window spends in Championship history: Aston Villa, Newcastle…

TRY A QUIZ: Can you name every club to play in the Championship since 2000-01?