Ranking every PSR transfer’s Premier League season so far

As the 2025 January transfer window nears to a close, you may have noticed the absence of some odd moves that occurred in the summer between two Premier League clubs – such as 19-year-old Omari Kellyman to Chelsea from Aston Villa for £19million, or Newcastle paying £20m for Nottingham Forest’s third-choice goalkeeper Odysseas Vlachodimos, in an officially separate, yet still linked, deal to Elliot Anderson’s £35m move in the opposite direction.

Referred to as a PSR transfer, these occur just before the financial year closes on June 30, allowing clubs to inflate their financial income, and, as the name suggests, comply with the Premier League’s profit and sustainability regulations (PSR). Or, at least, become closer to doing so.

The logistics behind these deals are explained in more detail here, but essentially relate to the difference in how incomings and outgoings are booked in a club’s accounts.

Such differences allow academy players – who hold zero value’ in a clubs’ books due to their lack of transfer fee – to be sold for a ‘pure profit’ in a club’s books, whilst any fees for incoming players can be spread out over the length of their contract up to a maximum of five years.

For instance, say two clubs swap two academy players, each with a £10m transfer fee on a  five year contract. Both clubs would receive the £10m instantly, but would only add £2m to their costs in that financial year (£10m fee divided by five-year contract length = £2m cost per year).

Notably, these same benefits also exist with any other player sales, however are slightly more complicated, as they relate to how much the players’ initial transfer fee was, and how long they’ve been at the club at the time of sale. Consequently, youth players have been disproportionately utilized as part of this transfer strategy.

But why haven’t there been any this January window?

Well, that comes back to the June 30 deadline, which means clubs have time to assess their finances and keep hold of players in the winter, and then cut a deal for some extra income at the end of the season, if they deem necessary.

This occasionally results in rushed moves, not in the players’ best interests, which creates moral problems with this transfer strategy in itself. Therefore, for the ratings ahead, it’s vital to take into note that each of these players, are, to put it bluntly, human beings, not just assets or accounting tools.

In other words, these deals not working out, or the fee involved perhaps not being indicative of the current value or quality of the player, is not necessarily telling of their future career development.

Nonetheless, with the explanations and context now covered, and no PSR transfers set to occur this window, there’s no better time to asses how successful the eight that took place last summer have been; for both the purchasing club, and the player’s who’ve moved there.

Applied to each of the nine moves conducted between Premier League clubs before June 30 2024, every transfer will be ranked worst to best, and given a rating out of 10 to outline just how great a calamity or master stroke the deal has been.

9. Odysseas Vlachodimos (30) – Nottingham Forest to Newcastle United (£20m)

Initially signed for £5m by Forest and conceding 16 goals in just 7 starts, Vlachodimos taking his talents to Tyneside for £20m was perhaps the most blatant of all PSR transfers. A senior figure at the St. James’ Park even described the move to The Athletic as one “born out of desperation”, as Forest took advantage of their Premier League rivals’ financial plight by ensuring he was involved in the deal for Anderson.

The Greece international was Benfica’s number 1 for five years in both league and Champions League, so could have feasibly been seen as a back-up, or even competition, to Nick Pope. However, the Englishman has been injured since December and Vlachadimos’ only minutes were as a half-time sub in the EFL Cup to replace Eddie Howe’s second choice in between the sticks, 36-year-old Martin Dúbravka.

As such, there’s no other place for the shot-stopper than the bottom of this list. 0/10.

8. Kiernan Dewsbury-Hall (26) – Leicester City to Chelsea (£35m)

As well as being a lucrative sale for his boyhood club, Kiernan Dewsbury-Hall was also seen as one of Enzo Maresca’s key signings heading into his first season at Stamford Bridge. The midfielder contributed to a remarkable 12 goals and 14 assists under the Argentine coach in the Championship last season, but has been far off replicating such performances at the West London side.

Despite starting five of six Europa Conference League matches and missing only five games through injury, just two of the 27 players Chelsea have used in the top flight this season have played fewer minutes than the England international’s 135 – Marq Guiu (19) and Tyrique George (18), albeit, 77 of those came in a start in their 3-1 win at home to Wolves, in which he assisted Marc Cucurella to take the 2-1 lead.

Although that start may indicate a changing of Maresca’s mind, and that Dewsbury-Hall will not depart on loan this January – as was previously reported – this signing is still set to look like a disappointing and unneeded investment sanctioned by Maresca. 2/10

7. Omari Kellyman (19) – Aston Villa to Chelsea (£19m)

At the time of his transfer to Chelsea, Kellyman’s estimated market value (according to Transfermarkt) stood at €1.5m, as it currently remains. The 19-year-old had only played 148 senior minutes for Villa with 13 goals contributions from 26 appearances as an attacking midfielder in their under-21 side, whilst he has only taken to the pitch twice for Chelsea’s youth team due to separate knee and hamstring injuries.

With those injuries, the fee, and The Blues’ already gluttony of young talent, it’s hard to view this deal positively for either club or player. 3/10

6. Michael Golding (18)- Chelsea to Leicester City (£5m)

Joining for an initial £3m with a potential £2m in add-ons, Golding moved to Leicester in a separate deal to Dewsbury-Hall’s in the opposite direction. The attacking midfielder did not necessarily arrive as his direct replacement, but perhaps as someone who could fulfill a similar role in the future.

Capable of impacting play through both goals and assists, the 18-year-old has consistently featured across Chelsea’s and now Leicester’s academy, whilst he also earned a senior FA Cup debut as a late substitute for the former club in January 2024.

Furthermore, Golding stands out for his prevalence in England’s setup, captaining all of England’s under-16, under-17, and under-18 sides across over 30 youth caps for his nation. With that in mind, there’s a reasonable possibility that Golding may soon have a breakthrough into The Foxes’ first-team setup, if not on loan at an EFL side. 5/10

5&4. Lewis Dobbin (22) – Everton to Aston Villa (£9m) and Tim Iroegbunam (21) – Aston Villa to Everton (£9m)

Both being academy members swapping their respective clubs for reported £9m fees each, the transfers of Lewis Dobbin and Tim Iroegbunam between Villa and Everton are the most archetypal PSR transfers in this list, and therefore provide more context being analysed together, rather than individually.

The two England youth internationals boasted identical financial benefits to each selling club in the summer, but, have had differing impacts on the field for their new sides since.

Dobbin was loaned out to West Bromwich Albion before playing a single minute at Villa Park, but was only selected to start one of his 19 league matches for The Baggies. The forward has subsequently been recalled and sent out to Norwich until the end of the season – where, in scoring once in four starts, he’s already presented the possibility that Villa could recoup some of their outlay from the Canaries.

Meanwhile, Iroegbunam instantly impressed in his four league starts under then-manager Sean Dyche at the beginning of the campaign – impressing the Goodison Park faithful with an innate ability to cover ground, break up play, and carry the ball forwards from defensive midfield.

Unfortunately, the ex-QPR loanee has been unavailable since November due to an ankle injury, yet still maintains a bright future in Merseyside, potentially making a perfect fit at the heart of what is now David Moyes’ side.

Dobbin: 5/10

Iroegbunam: 7/10

3. Ian Maatsen (22) – Chelsea to Aston Villa (£37.5m)

As The Dutchman came fresh off the back of two outstanding loan spells during Burnley’s 2023/23 Championship winning season, and then in the second-half of Borussia Dortmund’s run to the 2023/24 Champions League final, Villa beating out multiple European clubs to secure the signing of Ian Maatsen from Chelsea was seen at the time as one of the coup’s of the summer.

The left-back makes for an ideal attacking option in Emery’s back four, able to invert into midfield or overlap his winger as the right-back tucks inside to form a back-three in possession.

Although Maatsen hasn’t quite hit the ground running as many expected him too with just seven starts in all competitions so far, the 22-year-old’s tactical fit, historic performances, and clear talent suggests this move will come to fruition soon enough. 7.5/10

2. Yankuba Minteh (20) Newcastle United to Brighton & Hove Albion (£30m)

A long-term investment acquired for €8m from Danish side Odense by Newcastle in July 2023, Yankuba Minteh was immediately sent out on loan to gain experience at Feyenoord, and subsequently thrived for Arne Slot’s Eredivisie Champions;

The Gambian international accumulated 10 goals and five assists in the Dutch top flight; catching the eye with electric speed and dribbling from the right-wing, whether it be by driving round the outside of his man to reach the byline or cutting inside to shoot on his stronger left-foot.

Those performances not only meant the 20-year-old would be a transformational addition to Eddie Howe’s squad this coming season, but also, to Brighton’s benefit, that he was one of The Magpies’ most valuable assets when finances were desperately needed.

In a Brighton squad stacked with quality attacking talent, Minteh has been in and out of Fabian Hürzeler’s starting lineup throughout the season, but has clearly shown his promise with five goal contributions when he has played, most recently Minteh scoring and assisting once in The Seagulls 3-1 win away at Old Trafford, only to be sidelined the following game against Everton after arriving late! 8/10

1. Elliot Anderson (22) – Newcastle United to Nottingham Forest (£35m)

With their signing of Vlachodimos being named the worst PSR transfer, and their sales of Minteh and academy graduate Elliot Anderson being the two most successful, this list doesn’t paint Newcastle’s summer business in the best light – serving as a stark exemplar of the missed opportunities prior reckless spending can cause, and it’s adverse impact on a side on-field quality.

Having gradually increased his Premier League minutes following an impressive loan spell at League Two’s Bristol Rovers in 21/22, Anderson was set to play a significant role for his boyhood club’s this season, but Forest’s £35m offer for the Englishman “forced” Newcastle into a position due to PSR, as stated by Eddie Howe.

Despite that fee though – which may have been slightly inflated as part of the exchange for Vlachodimos – not many could have predicted the seismic impact the 22-year-old would have at his new club, nor the remarkable performances The Reds have produced.

Compared to all his positional peers in the Premier League on a per 90 basis (via Fbref), the industrious, well-rounded midfielder ranks in the top 20 percent for: aerials won, tackles + interceptions, clearances, blocks, ball recoveries, successful take-ons, fouls drawn, touches in attacking penalty area, shot-creating actions, goal-creating actions, assists, and many, many other statistics.

Furthermore, as noted by independent journalism outlet SCOUTED Football on X, Anderson is one of six players in Europe’s top five leagues to record 20+ shots, key passes (I.e. passes leading to shots), take-ons completed, and aerial duels won.

Because of those performances, and his new sides’ surprising position as contenders for European football, Anderson’s move to Forest must go down as the most successful PSR transfer this season, and perhaps the best of all transfers that occurred in the summer. 10/10

Travis Levison | Get Football