The New Boys!
| Player Name | From | Fee |
| Dietmar Hamann | Newcastle | £ 8m |
| Vladimir Smicer | Lens | £ 4.2m |
| Erik Meijer | Bayern Leverkusen | Free |
| Sander Westerveld | Vitesse Arnhelm | £ 4m |
| Stephane Henchoz | Blackburn Rovers | £ 3.5m |
| Titi Camara | Marseille | £ 2.5m |
| Sammi Hyppia | Willem II | £ 3m |
Gone!
| Player Name | To | Fee |
| Karl-Heinz Riedle | Fulham | £ 200,000 |
| Bjorne-Tore Kvarme | St Ettienne | £ 750,000 |
| David James | Aston Villa | £ 1.8m |
| Jean Michel Ferri | Sochaux | £ 1.5m |
| Sean Dundee | VFB Stuttgart | £ 1.m |
| Paul Ince | Middlesbrough | £ 1.2m |
| Oyvind Leonhardsen | Tottenham Hotspurs | £ 3m |
| Rob Jones | Retired through injury | |
| Steve McManaman | Real Madrid | Free |