Fueled by England and Saudi Arabia, clubs spent a record $2.35 Billion on international transfer deals in a booming January trading period for men's football, FIFA said Friday.
The 5,863 international transfers - those between clubs in different countries that are processed by FIFA - also was 900 more than the previous highest, which was recorded last year.
In January 2024, only one transfer - Gonçalo Ramos confirming a permanent move to Paris Saint-Germain from Benfica - was reportedly valued at more than 30 Million Euros ($31 Million).
There were 10 such transfer fees agreed last month, including four to Manchester City, and topped by Colombia forward Jhon Durán's $80 million move from Aston Villa to join Cristiano Ronaldo at Saudi club Al Nassr. Big spenders English clubs collectively spent the most with a $621.6 Million outlay on transfer fees and recouped just $186 Million selling players to clubs in other countries.
The next biggest deficit was Saudi Arabia, where clubs spent more than $160 Million above what they earned. The spending of $202 Million was mostly fueled by Al Nassr, Al Hilal and other clubs all owned with sovereign wealth by the Public Investment Fund.
German clubs spent $295.7 Million, which was mostly offset by earning $226.2 million in transfer sales.
French clubs took in the highest total of transfer fees, $371 Million, and spent just $209.7 Million to make a collective profit of more than $160 Million. Clubs in Portugal made sales of $176.4 Million and spent only $40.2 Million for a combined profit of $136 Mllion.