Another busy summer of wheeling and dealing is in the books as the 72 clubs in the EFL conducted surgery on their squads for the 2026/27 season.
Following Tuesday's deadline, EFL pundit Gab Sutton looks at the winners and losers of the summer transfer window.
Championship Winners
Swansea City
There’s a lot more excitement around Swansea now, following the changes upstairs that have enabled more ambition about the club and more investment, with the South Wales outfit spending north of £15m on transfer fees this summer.
Additions like Stephen Welsh, Moussa Yeo and Elijah Just have settled in superbly, while the club has captured a major asset in Tom Iorpenda from Huddersfield for six-figures, following his stellar loan in League Two with Notts County.
Bristol City
Bristol City have invested in some top players from League One with real growth potential.
Goalkeeper Sam Tickle and strikers Lorent Tolaj and Dom Ballard may or may not have brilliant debut campaigns, although all three have shown promise early on, but as the acclimatize to the level they should become major assets.
The structure at Ashton Gate has changed, with Brian Tinnion going out to be replaced in influence by James Ellis as Sporting Director, under a new CEO in Charlie Boss, and the signs are positive for the long-term.
Queens Park Rangers
Queens Park Rangers have invested in some big assets in the last couple of years and have been rewarded for that.
They’ve retained key players this summer, and have strengthened the goalkeeping position with Pierce Charles joining on loan from Manchester City, as well as the full-back areas, where Tariq Lamptey and Dennis Cirkin bring plenty of high-end pedigree.
Championship Losers
Preston North End
It’s difficult for Preston North End, a club without much financial investment, in a climate of football at Championship level that demands it.
The Lilywhites had pushed the boat out to sign popular loanee Alfie Devine from Tottenham on a permanent deal for £6m, a lot of money by their standards, but that big one-off deal from early July might also explain why it took until mid-August for them to make more than two further additions.
The signings of Stanley Mills and Johnny Kenny are decent, but more was required, and Heckingbottom is still having to start players who aren’t quite up to this level, like Liam Lindsay, Jordan Storey and Jordan Thompson.
Bolton Wanderers
Bolton also left it late, and missed out on key targets.
The Trotters have more financial capital than they would like to let on, and they went big at the end of the window, with the signings of Lewis Brunt, Gavin Bazunu, Jayden Nelson, Atsuki Ito, plus Samuel Iling-Junior and Theo Bair on loan from Aston Villa and Auxerre respectively.
So, it’s not so much that Steven Schumacher hasn’t been able to get decent players in the building, as much as that he hasn’t had the chance to bed them in nice and early.
Derby County
It’s the same for Derby County, who put off much of their recruitment in the expectation of a takeover going through, only for the consortium to back out at the last minute.
Similarly to PNE, they’ve resigned a popular loan in Bobby Clark, but have otherwise only spent £600k on Alex Mowatt to improve the squad from last season, besides frees and loans.
Once again, John Eustace will have to get every ounce out of his squad for the Rams to stay in the mix.
League One Winners
Leyton Orient
It’s an extensive rebuild for Leyton Orient, after last season’s perceived half-hearted efforts had boss Richie Wellens pulling no punches once survival was assured.
Midway through the summer, the Mancunian enlisted the support of Scott Mitchell as Director of Football, and the recruitment has since been terrific: culture-carriers like Joe Olowu, Isaac Hayden and Tony Springett, balanced with star individual talents like Somte Boniface and Yusuf Akhamrich on loan.
After a 5-0 win at Bromley put the O’s inside the top six, ahead of Wednesday night’s games elsewhere, natives are going to be dreaming of another play-off charge akin to 2024/25.
Huddersfield Town
Huddersfield Town are purring nicely under Martin Drury with 10 points from their first four games.
It’s been partly about getting the most out of pre-existing players, but the right-sided pair of Excelsior recruits, Ilias Bronkhorst and Derensili Sanches Fernandes, have made positive contributions, Matty Young has demonstrated his talents in goal, on loan from Sunderland, while Cameron Humphreys looks an inspired deadline day pickup from Ipswich.
Cambridge United
Last but not least is Cambridge United, widely tipped for a struggle after winning promotion from League Two last season, but Neil Harris’ underdogs are defying their doubters, as a midweek 2-1 victory at Bradford put them as high as 4th.
In particular, Sam Curtis, Callum Perry, Isaac Heath and Ra’ees Bangura-Williams look fantastic acquisitions for the U’s, who could contend for a surprise top half finish.
League One Losers
Peterborough United
Although the exodus of key players from the side that reached the Play-Offs twice began three years ago, Peterborough United still look in rebuild.
It’s one thing to favour young players, which they’ve done very successfully in the past, but one might question how well they’ve executed the rebuild, given that they don’t have enough players far enough along in their development as to be ready to go and be some of the best players in the division.
While that’s the case, it’s arguable the Posh should have invested in one or two more experienced, or proven players just to offset that shortfall.
It’s a squad with a lot of talent, but a lot of question marks as well.
Burton Albion
Burton Albion, meanwhile, have just had to sell one of their best players, Tyrese Shade, to Portsmouth on deadline day.
In some ways, it’s good that the ownership have the humility to make unpopular decisions where they’re necessary, and if they have to halve their losses again, as interim chairman Wouter Gudde stated at the start of the summer, and if the offer for Shade was irrefusable, then they’ve done the right thing.
It’s frustrating for Gary Bowyer, however: he’ll have to work his magic once again with a wafer-thin squad.
Wigan Athletic
Wigan Athletic’s summer is put in harsher perspective by a start of three straight defeats at the time of writing.
The big worry for me is that they’re relying on goalkeeper Joe Walsh, and converted striker Sonny Perkins, to go and be their match-winners at either end, and I’m not sure they’ve put their faith in the right people.
League Two Winners
Bristol Rovers
Bristol Rovers needed continuity, after finishing last season with an extraordinary 10-match winning streak, and that’s exactly what they’ve had.
Key loanees Kofi Balmer, Richie Smallwood have all signed permanent deals to ensure a stable ship, while Tom James and Bobby Kamwa have brought fresh quality to what was already a strong team.
Barnet
It’s a similar principle at Barnet, who were irrepressible in the last two months of 2025/26, although Dean Brennan’s side have leant even more on their pressing game this season, with Oisin Gallagher and Charlie Lakin slotting right into that in midfield.
The Bees are unbeaten, and showed the standard of their recruitment on the opening day, when they annihilated favourites Salford.
Oldham Athletic
Oldham, who came up with the North Londoners in 2025, also look improved, especially in midfield, where Keenan Appiah-Forson and Oli Norburn have proved a pair of tough customers.
The Latics have taken seven points from their first four, only losing at Colchester, where they played the second half with 10 men: doubt Micky Mellon at your peril. James Norwood, you have been warned!
League Two Losers
Accrington Stanley
When Accrington Stanley make a big-money signing, they need it to work. The Reds paid presumably large wages to bring Cole Stockton to East Lancashire, but because the striker can’t do what John Doolan presumably asks of him without the ball – i.e. put himself about – the likes of Charlie Caton and Josh Woods are still starting up top.
Stanley haven’t been able to elevate their squad to the extent they needed. I actually really like the signing of Charlie Warren, on loan from Bolton, as I posted on social media, but in general I don’t think they’ve done enough.
In fairness, it’s difficult to get recruitment right when you’re constrained to little more than a £1m budget which, even at this level, is peanuts in this day and age.
Exeter City
Exeter have encountered similar challenges, not helped by the sale of Jayden Wareham to Wycombe, and that of Ollie Watkins to Saudi, going through right on the deadline, meaning they’ve got the money to secure the club’s future but had no time to do anything with it on the footballing side.
Five permanent signings, in a post-relegation summer, is far less than boss Matt Taylor would’ve ideally liked.
Salford City
In terms of the more financially advantaged side, I also have concerns about Salford and how they’ve used their budget.
They’ve changed playing style this season… and yet they’ve signed non-ball-playing defenders like Will Aimson and Dan Scarr?!
