According to CIES, the global football transfer market experienced a 10.5% decline in spending in 2024, totalling €10.96 billion. This marks a significant decrease from the €12.24 billion spent in 2023, reflecting a shift towards financial caution among clubs. 

The global football transfer market has seen a notable reduction in spending for 2024, according to recent data published by CIES. Following the conclusion of the summer transfer window, football clubs worldwide have recorded a total transfer expenditure of €10.96 billion for the year, encompassing both the winter and summer windows. This marks a substantial decline of 10.5% compared to the previous year’s spending of €12.24 billion, according to numbers presented by SafeBettingSites.com

The decline in transfer spending in 2024 highlights a shift towards financial caution among football clubs. This contrasts sharply with the robust growth observed in the past two years, particularly in 2023, when a record €12.24 billion was spent on player transfers globally. The decrease of €1.28 billion this year suggests a more conservative approach in the transfer market, possibly influenced by broader economic uncertainties and changing club strategies.

Historical context and recent trends

Since 2015, the global football transfer market has experienced significant fluctuations. Starting at €5.88 billion in 2015, transfer spending saw a steady rise, peaking at €9.99 billion in 2019. The trend, however, was disrupted in 2018 when spending dipped slightly before recovering the following year. The COVID-19 pandemic had a pronounced impact on the football industry in 2020, leading to a sharp reduction in transfer expenditures. Spending fell by nearly 25% to €7.51 billion that year, followed by a further decline of 20.2% in 2021, with total expenditures dropping to €5.99 billion.

The market showed signs of strong recovery in 2022, with a remarkable 56% increase in spending, reaching €9.34 billion. This upward trajectory continued into 2023, as clubs invested a record €12.24 billion in player acquisitions, marking a 31% increase from the previous year.

However, the momentum was not sustained in 2024. The recent data indicates a shift in club behaviour, with a notable 10.5% decrease in spending. Clubs appear to be adopting a more measured approach, possibly due to financial prudence and a reassessment of transfer market strategies.

This recent downturn, despite being unexpected, reflects the dynamic nature of the football transfer market. As clubs adapt to changing financial landscapes and strategic priorities, it remains to be seen how these trends will evolve in the coming years.