Winter transfer window 2026: record transfers, but significant drop in spending

The winter transfer window of 2026 made history with a record number of completed transactions, surpassing the 5,900 mark globally for the first time. However, the total amount spent fell considerably compared to the previous year, according to data published by the International Federation of Football Associations (FIFA), cited by AFP. According to the FIFA report, the 2026 winter transfer window saw a 3% increase in the number of transfers, reaching over 5,900 transactions, compared to the previous record of 5,799, set in January 2025. In contrast, total spending fell by 18% to around $1.9 billion, compared to $2.35 billion recorded in the same period last year. The trend suggests a more active market numerically, but more financially cautious, amid economic uncertainty and pressures related to financial fair play.

• English clubs dominate spending, despite a drastic drop

English clubs remained the main investors of the winter, with $363 million spent, although the amount is well below the level of 2025, when Premier League teams invested $623 million. Italian clubs came in second place with $283 million, followed by Brazilian clubs with $180 million, moving up the spending ladder.

The performance of Brazilian clubs was decisively influenced by the transfer of international Lucas Paqueta, who left English club West Ham for Flamengo, the reigning Brazilian champions and holders of the Copa Libertadores, in a deal estimated at around $49 million.

• TV rights crisis hits French football

French clubs, still affected by the TV rights crisis, spent $120 million, a drop of more than 40% compared to January 2025, when the total had reached $210 million. France thus ranked fifth in the spending hierarchy, after Germany. In turn, clubs from Saudi Arabia, extremely active in previous years, fell to sixth place, with $101 million, down by approximately 52% compared to last year.

In terms of transfer revenue, French clubs maintained their leading position globally, with $218 million collected, even if the amount is significantly lower than that of January 2025 ($373 million). The following places were occupied by: Italian clubs - $175 million; Brazilian clubs - $155 million; English clubs - $150 million; Spanish clubs - $139 million.

• Women's football, in full financial expansion

The 2026 winter transfer window brought a new all-time record in women's football, with over $10 million spent, an 85% increase on the record set last year. This development occurred despite a 6% drop in the number of transfers, which stopped at 420 moves. And this time, English clubs were the most active financially, with over $5 million invested.