Here’s what I found…
Season-by-Season Transfer Breakdown
2020/21 Season
Context: TFG took over mid-window, so most transfers were already planned under Pallotta’s regime. They added one notable signing.
Key Incomings:
- Chris Smalling (Manchester United, €15 million, permanent after loan)
- Stephan El Shaarawy (Shanghai Shenhua, free transfer in January 2021)
- Key Outgoings:
- Patrik Schick (Bayer Leverkusen, €26.5 million)
- Cengiz Ünder (Leicester, loan with €24 million obligation
- Net Spend: Limited data on total spend, but the season included three pre-planned eight-figure signings and Smalling’s €15 million transfer. Outgoings likely offset much of the expenditure, suggesting a modest net spend or near-neutral balance.
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2021/22 Season
Context: TFG’s first full season, marked by a significant transfer window to support new manager José Mourinho. Spending reached €96.75 million, described as a “splurge.”
- Key Incomings:
- Tammy Abraham (Chelsea, €40 million)
- Matías Viña (Palmeiras, ~€13 million)
- Eldor Shomurodov (Genoa, ~€17.5 million)
- Rui Patrício (Wolves, ~€11.5 million)
- Key Outgoings:
- Edin Džeko (Inter, free transfer)
- Justin Kluivert (Nice, loan)
- Net Spend: Approximately €80 million, driven by high-profile signings like Abraham with limited outgoing fees. This was TFG’s most significant spending window, later criticized as inefficient due to FFP constraints and mixed player performances..
2022/23 Season
Context: Focus shifted to cost-cutting and free transfers/loans to comply with FFP. Signed high-profile free agents and secured a large net profit.
- Key Incomings:
- Paulo Dybala (Juventus, free transfer)
- Andrea Belotti (Torino, free transfer)
- Nemanja Matić (Manchester United, free transfer)
- Romelu Lukaku (Chelsea, loan)
- Key Outgoings:
- Nicolò Zaniolo (Galatasaray, €16.5 million)
- Justin Kluivert (Bournemouth, €11.2 million)
- Net Spend: -€71.5 million (profit). Minimal spending on transfers, with revenue from sales and reliance on free agents/loans.
2023/24 Season
Context: Continued financial discipline, with significant sales to balance books. Mourinho was sacked in January 2024, replaced by Daniele De Rossi.
- Key Incomings:
- Houssem Aouar (Lyon, free transfer)
- Evan Ndicka (Eintracht Frankfurt, free transfer)
- Romelu Lukaku (Chelsea, loan, continued)
- Key Outgoings:
- Riccardo Calafiori (Arsenal, €8.7 million)
- Houssem Aouar (Al-Ittihad, €10 million)
- Andrea Belotti (Como, €7.4 million)
- Net Spend: -€63.2 million (profit). Player sales and low-cost incomings further reduced financial strain.
2024/25 Season
- Context: A shift back to significant investment, with ~€108 million spent to support De Rossi (sacked after four games) and later managers Ivan Jurić and Claudio Ranieri. Aimed to build a competitive squad.
- Key Incomings:
- Artem Dovbyk (Girona, ~€38 million)
- Matías Soulé (Juventus, ~€25.6 million)
- Enzo Le Fée (Rennes, ~€23 million)
- Samuel Dahl (Djurgården, €4.3 million + €2.1 million add-ons)
- Key Outgoings:
- Tammy Abraham (potential sale, ~€32.6 million with Zalewski, not finalized)
- Nicola Zalewski (potential sale, part of above)
- Net Spend: Estimated at €80 million to €100 million, reflecting heavy spending with limited confirmed outgoing fees. This was Roma’s highest spending window since 2021/22.