Players in
| Player | From | Fee | Date |
| Fredrik Ljungberg | Halmstads | £ 3000000 | 12-09-1998 |
| Eric Chukwunyelu Obinna | Bahia | Signed | 10-11-1998 |
| William Huck | Monaco | Free | 18-11-1998 |
| Jermaine Pennant | Notts Co | £ 2000000 | 08-01-1999 |
| Nwankwo Kanu | Inter | £ 4500000 | 15-01-1999 |
| Kaba Diawara | Bordeaux | £ 2500000 | 29-01-1999 |
| Oleg Luzhny | Dynamo Kiev | £ 1800000 | 28-05-1999 |
| Total: £ 13800000 | |||
Players out | |||
| Player | To | Fee | Date |
| Ian Wright | West Ham | £ 500000 | 13-07-1998 |
| Isaiah Rankin | Bradford | £ 1300000 | 13-08-1998 |
| Jamie Day | Bournemouth | £ 20000 | 03-03-1999 |
| William Huck | Bournemouth | £ 50000 | 25-03-1999 |
| Kaba Diawara | Marseille | £ 3000000 | 01-06-1999 |
| Total: £ 4870000 | |||
Loans (players in) | |||
| Player | From | Start | End |
| Fabian Caballero | Cerro Porteno | 29-10-1998 | 01-06-1999 |
Loans (players out) | |||
| Player | To | Start | End |
| Paolo Vernazza | Ipswich | 03-10-1998 | 03-11-1998 |
| Jason Crowe | C Palace | 11-11-1998 | 10-01-1999 |
| Eric Chukwunyelu Obinna | St Etienne | 11-11-1998 | 01-07-1999 |
| Christopher Wreh | AEK Athens | 03-02-1999 | 01-08-1999 |
| Alberto Mendez | AEK Athens | 03-02-1999 | |
| Omer Riza | Den Haag (old) | 19-02-1999 | 31-05-1999 |
Released players | |||
| Player | Date | ||
| Nir Berkovic | 25-04-1999 | ||
Source : Soccer Base
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