In
| Player | Team | Date | Fee |
|---|---|---|---|
| Lukas Jutkiewicz | Swindon Town | 1 July 2007 | £500,000 |
| Tim Howard | Manchester United | 1 July 2007 | £3,000,000 |
| Phil Jagielka | Sheffield United | 4 July 2007 | £4,000,000 |
| Leighton Baines | Wigan Athletic | 7 July 2007 | £5,000,000 |
| Steven Pienaar | Borussia Dortmund | 24 July 2007 | Season-long loan |
| Stefan Wessels | Cologne | 21 August 2007 | Free |
| Yakubu | Middlesbrough | 29 August 2007 | £11,250,000 |
| Thomas Gravesen | Celtic | 30 August 2007 | Loan to end of the season |
| Manuel Fernandes | Valencia | 11 January 2008 | Loan to end of the season |
| Dan Gosling | Plymouth Argyle | 15 January 2008 | £2,000,000 |
| Anthony Gardner | Tottenham Hotspur | 31 January 2008 | Loan to end of the season |
| Total (initial fees only): | £25,750,000 | ||
- Lukas Jutkiewicz (Swindon Town) – Deal agreed on 17th March 2007.
- Tim Howard (Manchester United) – Deal agreed on 14th February 2007.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Johan Troest Davidsen | NSI Runavik | July 2007 | Undisclosed |
| Alessandro Pistone | Released | 1 July 2007 | |
| Richard Wright | Released | 1 July 2007 | |
| Scott Phelan | Released | 1 July 2007 | |
| Gary Naysmith | Sheffield United | 5 July 2007 | £1,000,000 |
| Stephen Connor | Partick Thistle | 3 August 2007 | 6-month loan |
| James Beattie | Sheffield United | 4 August 2007 | £4,000,000 |
| Anderson de Silva | Barnsley | 23 August 2007 | 1-month loan (extended to 2 months) |
| Anderson de Silva | Barnsley | 22 November 2007 | 1-month loan (extended to 2 months) |
| Lukas Jutkiewicz | Plymouth Argyle | 1 January 2008 | Loan to end of the season |
| Scott Spencer | Yeovil Town | 8 January 2008 | 1-month loan |
| James McFadden | Birmingham City | 18 January 2008 | £4,750,000 |
| Patrick Boyle | Crewe Alexandra | 21 January 2008 | 1-month loan (extended to 3 months) |
| John Paul Kissock | Gretna | 25 January 2008 | Loan to end of the season |
| Bjarni Vidarsson | Twente | 29 January 2008 | Loan to end of the season |
| Alan Stubbs | Derby County | 31 January 2008 | Free |
| Anderson de Silva | Barnsley | 31 January 2008 | Undisclosed |
| John Ruddy | Stockport County | 22 February 2008 | 1-month loan (extended to end of the season) |
| Scott Spencer | Macclesfield Town | 7 March 2008 | 1-month loan |
| Aidan Downes | Yeovil Town | 27 March 2008 | Loan to end of the season |
| Total (initial fees only): | £9,750,000 | ||
- Alessandro Pistone (Released) – Eventually joined Mons on 6th December 2007.
- Richard Wright (Released) – Eventually joined West Ham United on 4th July 2007.
- Scott Phelan (Released) – Eventually joined Bradford City on 24th July 2007.
| Income | £9,750,000 |
| Expenditure | £25,750,000 |
| Net Spend | +£16,000,000 |