Manager: Xabi Alonso (24/25, 4+1yr contract)

Won the 24/25 FA Cup and 25/26 UEFA Europa League.

IN:
- Otávio (Porto) - 45 M
- Sangare (Forest) - 35 M
- Davies (Bayern) - 25 M (contract expiring)
- Sane (Bayern) - 35 M (contract ending) expiring)
- Bowen (West Ham) - 40 M
- Muller (Bayern) - free
- Palacios (Leverkusen) - 35 M
- Hincapie (Leverkusen) - 35 M

OUT:
- Salah (Al-Ahli) - 36 M
- Diaz (Bayern) - 47 M
- Gravenberch (Bayern) - 38 M
- Thiago (Flamengo) - free
- Matip (Leverkusen) - free
- Gakpo (Bayern) - 15 M (loan fee)
- Robertson (Celtic) - 8 M (loan fee)
- Tsimikas (Lazio) - free
- Phillips (Bournemouth) - 5 M
- Gomez (Bournemouth) - 15 M
- Morton (Blackburn) - 16 M
- Jones (Wolves) - 29 M
- Otávio (Barcelona) - 28 M