Big money, bigger regrets. From panic buys to record fees that aged like milk, the EFL has seen its fair share of transfer disasters.
These were the deals that promised promotion glory but ended up in the bargain bin faster than expected.
Some were doomed by injury, others by attitude, and a few just never fit the system.
Here are the ten transfers that defined financial folly in the Football League.
#CardiffCity can confirm that Gary Madine has left the #Bluebirds by mutual consent.
We’d like to thank Gary for his efforts since joining the Club in January 2018 and wish him well with his future career.
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— Cardiff City FC (@CardiffCityFC) January 9, 2020
10. Gary Madine (Bolton Wanderers > Cardiff City – £7m)
Neil Warnock splashed out on the target man in January 2018 to push for promotion, but the move became a running joke in South Wales. Madine failed to score a single goal in blue, earning more headlines off the pitch than on it.
Cardiff somehow still went up, but their £7m signing was quickly loaned out, never finding a Premier League moment to justify the fee.
9. João Carvalho (Benfica > Nottingham Forest – £13m)
Forest broke the Championship transfer record in 2018 for Carvalho, a Portuguese playmaker who was supposed to transform their attack. He managed flashes of quality but never adapted to the physical side of the league, drifting in and out of games.
By the time Forest finally returned to the Premier League, Carvalho was long gone, his price tag a painful reminder of misplaced ambition.
8. Yanic Wildschut (Wigan Athletic > Norwich City – £7m)
When Norwich paid big for Wildschut in 2017, it looked like a coup. The winger had torn defences apart at Wigan, but at Carrow Road he became a luxury player in a team that couldn’t afford one.
Just 18 months later, Norwich were happy to cut their losses. Wildschut’s career since has been a blur of short spells and loans, his value evaporating almost overnight.
7. Ashley Fletcher (West Ham United > Middlesbrough – £7m)
Middlesbrough’s 2017 summer spending spree was infamous, and Fletcher summed it up perfectly. Signed for £7m on the back of just 20 senior appearances, he never convinced at the Riverside.
One wonder goal aside, his return of 9 in 71 league games was poor value for money. When his contract ran down, he left for free, another reminder of Boro’s post-relegation waste.
6. Kenneth Zohore (Cardiff City > West Bromwich Albion – £8m)
West Brom paid £8m in 2019 for Zohore, a striker who had impressed briefly for Cardiff in their promotion season.
Injuries and inconsistency wrecked his time at The Hawthorns, and fans quickly lost patience. He scored just 5 goals in three seasons before being released, with one supporter summing it up best online: “Daylight robbery, and we were the victims.”
So excited for my new adventure with @boro! Cant wait to play in front of the amazing fans & get the club back to where it belongs 👆🏽⚪🔴 #utb pic.twitter.com/cM0w4jOlmQ
— Martin Braithwaite (@MartinBraith) July 13, 2017
5. Martin Braithwaite (Toulouse > Middlesbrough – £9m)
Before Barcelona came calling, Braithwaite’s English adventure was a disaster. Signed by Middlesbrough in 2017 for £9m, he lasted half a season before being loaned out.
The Danish forward never looked suited to the Championship grind, though his later career made the transfer look even stranger in hindsight. Boro fans still joke that selling him was the club’s best bit of business that decade.
4. Isaac Mbenza (Montpellier > Huddersfield Town – £11m)
A Premier League panic buy turned Championship burden, Mbenza’s £11m move to Huddersfield was disastrous. The winger looked promising in flashes but lacked end product and work rate. Across three years he managed just one league goal before leaving on a free.
Town fans still list him as one of the symbols of their chaotic Premier League fallout and expensive decline.
3. Aaron Tshibola (Reading > Aston Villa – £5m)
Villa’s 2016 recruitment drive after relegation was scattergun, and Tshibola was the clearest example. Signed for £5m to anchor the midfield, he made only ten appearances before disappearing from the picture entirely.
A series of loans followed, none successful, and he eventually dropped into the lower leagues and abroad. One of many panic buys in Villa’s lost Championship years.
2. Scott Hogan (Brentford > Aston Villa – £9m)
Brentford’s reputation for selling high was strengthened by Hogan’s £9m switch to Villa in 2017. The striker had been clinical in West London, but at Villa Park he struggled to adapt, plagued by injuries and confidence issues.
Five goals in 48 league games was a grim return, and by the time he left, he’d been overtaken by Tammy Abraham and forgotten entirely.
1. Ross McCormack (Fulham > Aston Villa – £12m)
The gold standard of wasted potential. Signed for £12m in 2016, McCormack scored just 3 goals before his time at Villa collapsed in chaos.
His now-infamous excuse about a broken electric gate summed up a transfer gone totally wrong. Villa’s record signing at the time ended up training with the youth team and was loaned to Australia, a spectacular fall from grace.
