In 2024, clubs spent $8.59 billion on foreign transfers, according to a FIFA research study

FIFA, the organization that oversees men’s soccer, stated in its Global Transfer Report released on Thursday that clubs around the world made a record 22,779 international moves in 2024, spending a total of $8.59 billion.

Following a record-breaking 2023 in which clubs spent $9.63 billion on overseas transfers, this amount is the second-highest expenditure.

In 2024, a record 78,742 international player transfers were made in both men’s and women’s professional and amateur soccer, according to FIFA.

With $1.88 billion spent on incoming transfers and $1.34 billion received for exiting players, English clubs were once again the biggest spenders.

Argentina forward Julian Alvarez’s move from Manchester City to Atletico Madrid, which cost about 75 million euros ($78.26 million) with an additional 20 million euros in possible add-ons, was the most costly international transfer.

Goncalo Ramos from Benfica to Paris St. Germain, Leny Yoro from Lille to Manchester United, Joao Neves from Benfica to Paris St. Germain, and Dani Olmo from RB Leipzig to Barcelona are also among the top five foreign moves.

Real Madrid’s deal to get France striker Kylian Mbappe from Paris St. Germain for free was a huge coup for the European champions, given the top five deals cost at least 55 million euros.

The two European clubs that spent the most on international transfers were PSG, Manchester United, and Olympique Lyonnais.

2024 saw women’s soccer spend a record $15.6 million on international transfers, more than twice as much as 2023 ($6.1 million).

Up until now, no soccer team had ever earned one billion euros in a single season.

In the largest move, Racheal Kundananji from Real Madrid was acquired by American Side Bay FC for an estimated $860,000, setting a global record in women’s soccer at the time.

When Chelsea signed American defender Naomi Girma this month for a rumored sum of around 900,000 pounds ($1.12 million), they shattered that record and became the first female million-dollar player.

The two most expensive women’s teams were Bay FC and Chelsea, followed by Orlando Pride and Barcelona.

53,679 transfers were made in amateur soccer overall, a 4.3% increase over the previous year.