Football clubs worldwide spent a record $9.63 billion on international transfers in 2023, an increase of nearly 50% compared to 2022, FIFA said.
After transfer spending fell in 2020 and 2021 due to the financial impact of the COVID-19 pandemic, outlays on players have only increased, with last year's total spend seeing an increase of 48.1% compared to 2022.
The figure also smashed the previous record set in 2019 by more than $2 billion, with English football clubs spending the most with a new high of $2.96 billion while four countries' associations received more than $1 billion in transfer fees in 2023.
England were followed by Saudi Arabian clubs who tried to draw some of the best players from European sides to the Saudi Pro League last year following the marquee signing of Cristiano Ronaldo, which saw several players move to the Middle East.
