In
| Player | Team | Date | Fee |
|---|---|---|---|
| Alan Stubbs | Celtic | 5 July 2001 | Free |
| Tomasz Radzinski | Anderlecht | 17 July 2001 | £4,500,000 |
| Jesper Blomqvist | Manchester United | 7 November 2001 | Free |
| Tobias Linderoth | Stabaek | 31 January 2002 | £2,500,000 |
| David Ginola | Aston Villa | 8 February 2002 | Free |
| Lee Carsley | Birmingham City | 8 February 2002 | Free |
| Total (initial fees only): | £7,000,000 | ||
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Ben Willetts | Aston Villa | Summer 2001 | Undisclosed |
| Francis Jeffers | Arsenal | 14 June 2001 | £8,000,000 (+£2,000,000 add-ons) |
| Craig Hogg | Released | 1 July 2001 | |
| John Lester | Released | 1 July 2001 | |
| Mike Price | Released | 1 July 2001 | |
| Stephen Hughes | Watford | 3 July 2001 | Free |
| Phil Jevons | Grimsby Town | 9 July 2001 | £150,000 (+£100,000 add-ons) |
| Peter Degn | Brondby | 20 July 2001 | £50,000 |
| Alex Nyarko | Monaco | 16 August 2001 | Season-long loan |
| Michael Ball | Rangers | 18 August 2001 | £6,500,000 |
| Thomas Myhre | Besiktas | 12 November 2001 | £300,000 |
| Abel Xavier | Liverpool | 30 January 2002 | £800,000 |
| Danny Cadamarteri | Bradford City | 21 February 2002 | Free |
| Paul Gascoigne | Burnley | 17 March 2002 | Free |
| Tom Kearney | Bradford City | 21 March 2002 | Free |
| Total (initial fees only): | £15,800,000 | ||
- Craig Hogg (Released) – Eventually joined Colwyn Bay ahead of the 2001/02 season.
- John Lester (Released) – Eventually joined Bohemians ahead of the 2001/02 season.
- Mike Price (Released) – Eventually joined Hull City ahead of the 2001/02 season.
| Income | £15,800,000 |
| Expenditure | £7,000,000 |
| Net Spend | -£8,800,000 |