International

Transfer Snapshot
JANUARY
JANUARY2024
2024
TABLE OF CONTENTS

01.
OVERVIEW 3
03.
WOMEN’S PROFESSIONAL
FOOTBALL  9

02.
Transfers and transfer fees 9
Transfer types 10
Transfers by player age 11
Transfers by confederation 12
MEN’S PROFESSIONAL Top associations 13
FOOTBALL  4
Transfers and transfer fees 4
Transfer types 5 METHODOLOGY 14
Transfers and fees by player age 6
Transfers by confederation 7
DISCLAIMER 15
Top associations 8

 2
 01. OVERVIEW
After a record-breaking year of transfers in 2023, the upward trend
mostly continued for the 2024 January transfer window. More than
75% of the 211 FIFA member associations declared an open registration
window between 1 January and 1 February 2024. For the majority
of leagues in the northern hemisphere, this window occurs midway
through the league campaign, providing clubs with a valuable chance
to reinforce their squads before entering the most pivotal phase of the
season. Conversely, for leagues that are just commencing, January often
serves as the primary transfer period.

Overall, the number of international transfers did not change

substantially in both men’s and women’s professional football, yet
the upward trend continues, reaching 4,716 and 357 respectively
(+0.6% and +0.3% compared to January 2023). Total spending on
international transfer fees reached USD 1.46 billion in men’s professional
football – the second highest amount in any January window, yet 8.2%
below the total outlay of January 2023. In women’s football, spending on
transfer fees surged to new heights with an increase of 165.5% compared
to last year’s window and a total value of USD 2.1 million.

The majority of spending in men’s football originated from clubs based

in Europe (77.9% overall), with clubs from France emerging as the top
spenders with a total of more than USD 290 million, more than twice the
amount they had spent in January 2023. In women’s football, the biggest
spending clubs were from UEFA, accounting for 55.0% of the total,
but also clubs from Concacaf (most notably those from the USA and
Mexico) played an almost equally substantial role, being responsible for
44.4% of the global spending.

3 01. Overview
02.
MEN’S
PROFESSIONAL
FOOTBALL
Transfers and transfer fees
The number of international transfers reached a new record in the 2024 January
transfer window, with a total of 4,716 international transfers.1 This represents
an increase of 0.6% compared to the same window in 2023. Global spending on
international transfer fees amounted to USD 1.46 billion, 8.2% less than in January
2023, but still the second highest total in any January window in the past.

Figure 1: International transfers during the January transfer window

FIG 1
Without transfer fees
With transfer fees
4,716
4,686
4,217
3,843 660 752
569
557
2,760
4,716 international
401 transfers in January
4,026 2024
3,648 3,964
3,286
2,359

2020 2021 2022 2023 2024

Figure 2: Transfer fees in USD during the January transfer window

FIG 2
Fixed fees
Conditional fees 1.60bn 1.46bn
Release (buy-out) fees
USD

1.46bn
306.9m
1.16bn 352.3m
1.05bn spent on transfer
221.8m fees
205.4m
0.59bn
1.29bn
941.2m 162.7m 1.10bn
843.4m
425.9m

2020 2021 2022 2023 2024

1 A
 t the time of publication, there were 370 pending transfers for which an International Transfer Certificate (ITC) had been
requested by the engaging association before the end of the 2024 January transfer window. If the releasing association
issues the ITC in any of these transfers, the figures for this period will change accordingly.

02. Men’s professional football 4

 Transfer types
In alignment with the distribution observed in the past, the majority of transfers
completed in the 2024 January transfer window were out-of-contract transfers,
comprising 60.6% of the overall total. The remaining 39.4% of transfers encompassed
permanent transfers (14.2%), loan agreements (14.8%), or players rejoining their
parent clubs after a prior loan spell (10.4%).

Figure 3: Transfers by type (January 2024)

FIG 3
Out of contract 60.6%
Loan 14.8
%
Permanent 14.2%
Return from loan 10.4
%

60.6%
of all transfers involved
out-of-contract players

5 02. Men’s professional football

Transfers and fees by player age
Players aged 18 to 23 were involved in just over half (52.3%) of the 752 international
transfers that included a transfer fee, followed by players aged 24 to 29 (40.6%).
These two age groups also contributed most significantly to the overall expenditure
on transfer fees (63.9% and 31.4%, respectively). The highest average transfer fee of
USD 2.4 million was agreed in the 393 transfers involving players aged 18 to 23.

Figure 4: Spending on transfer fees in USD and number of transfers with transfer fees by player age
(January 2024)

Transfer fees (USD)

Number of transfers with fees

935.7m 393

305

459.3m

40
Players aged 18
14 58.1m to 23 accounted
11.9m
for 52.3% of all
<18y 18-23y 24-29y ≥30y
transfers with fees
and for 63.9% of
the total spend on
transfer fees

02. Men’s professional football 6

 Transfers by confederation
59.9% of international transfers in the 2024 January transfer window included at least one club from UEFA.
Similarly, European clubs accounted for 77.9% of the worldwide expenditure on transfer fees and received
more than 60% of these fees. CONMEBOL-affiliated clubs, with a total expenditure of USD 168.8 million
and total receipts from transfer fees of USD 408.5 million, contributed 11.5% of the overall spending on
international transfer fees and received almost 30% of the global total during the January 2024 window.
This is the first time since 2017 that clubs from a confederation other than UEFA surpassed a 10% share of the
global total in transfer fee spending during the January transfer window.

FIG 5
Figure 5: Transfers and transfer fees in USD by confederation (January 2024)

2,288 2,243
Transfers in Transfers out
518 475
1.14bn 916.1m Transfers in Transfers out

Spending (USD) Receipts (USD)

411 393 35.9 m 16.1m

Transfers in Transfers out Spending (USD) Receipts (USD)

109.8 m 105.2m
Spending (USD) Receipts (USD)

460 564
Transfers in Transfers out

9.5
m 19.0 m
Spending (USD) Receipts (USD)

1,038 1,027 1 14
Transfers in Transfers out Transfers in Transfers out

168.8 m 408.5 m n/a 0

Spending (USD) Receipts (USD) Spending (USD) Receipts (USD)

The amounts for spending on and receipts from transfer fees are only shown for confederations with at least five incoming and outgoing transfers
with transfer fees respectively.

7 02. Men’s professional football

Top associations
Clubs from France recorded the highest expenditure among all football associations, with a total of more than
USD 290 million during the 2024 January transfer window, 121.1% more than in the same period a year earlier.
This was the first time since 2017 that clubs from an association other than England took the number one spot
in terms of spending on transfer fees in January. English clubs spent USD 184.0 million – just overt 20% of their
total outlay in January 2023 – yet still the second highest amount among all associations. Clubs from Brazil
took the lead in terms of received transfer fees, amassing a total of USD 251.2 million, more than 17% of the
worldwide total and more than twice the amount they received in January 2023 (USD 97.3 million).

Figure 6: Associations featuring in at least one of the top five rankings by incoming transfers, outgoing transfers, spending on transfer fees
or receipts from transfer fees (January 2024, global ranks in parentheses)

ENGLAND
174 (4) 193 (3)
Transfers in Transfers out

184.0m (2) 61.4m (9)

Spending (USD) Receipts (USD)
BELGIUM

FRANCE 78 (13) 69 (15)

Transfers in Transfers out
114 (6) 114 (7) 28.4m (13) 110.2m (3)
Transfers in Transfers out
Spending (USD) Receipts (USD)
291.9m (1) 83.4m (6)
Spending (USD) Receipts (USD)

SPAIN GERMANY
104 (8) 76 (13)
171 (5) 128 (5) Transfers in Transfers out
Transfers in Transfers out
USA 151.8m (3) 18.7m (19)
148.7m (4) 70.1m (7) Spending (USD) Receipts (USD)
Spending (USD) Receipts (USD)
43 (32) 171 (4)
Transfers in Transfers out

48.2m (9) 38.0m (11)

Spending (USD) Receipts (USD)
PORTUGAL
252 (2) 118 (6) ITALY
Transfers in Transfers out

41.5m (10) 132.2m (2) 102 (10) 108 (9)

Transfers in Transfers out
Spending (USD) Receipts (USD)
82.2m (6) 97.1m (5)
Spending (USD) Receipts (USD)

BRAZIL
409 (1) 249 (1)
Transfers in Transfers out

122.6m (5) 251.2m (1)

Spending (USD) Receipts (USD)

ARGENTINA
226 (3) 248 (2)
Transfers in Transfers out

41.0m (11) 109.3m (4)

Spending (USD) Receipts (USD)

02. Men’s professional football 8

 03.
WOMEN’S
PROFESSIONAL
FOOTBALL
Transfers and transfer fees
Women’s leagues and clubs worldwide are sustaining the momentum from the FIFA
Women’s World Cup 2023™ in Australia and Aotearoa New Zealand as they prepare
for the second half of the season. The 2024 January transfer window saw a notable
increase in international player transfers that included a transfer fee (+31.3%), while
the overall number of transfers remained relatively stable with a total of 357 (+0.3%).
Moreover, spending on international transfer fees set a new record during the 2024
January window, reaching USD 2.1 million – an unprecedented figure and an increase
of more than 150% from the 2023 January window.

Figure 7: International transfers during the January transfer window

FIG 7
Without transfer fees
With transfer fees
356 357
32 42
262
357 international
transfers
21
in January 2024
184 181
324
315
241
178 173

2020 2021 2022 2023 2024

Figure 8: Transfer fees in USD during the January transfer window

FIG 8
2.1m USD 2.1m
spent on transfer
fees, 165.5% more
than in the 2023
January window

774.5k

487.8k
310.1k
193.6k

2020 2021 2022 2023 2024

9 03. Women’s professional football

Transfer types
Similarly to the men’s game, the majority of transfers during the 2024 January
transfer window in women’s football (79.3%) were associated with out-of-contract
players, a decrease of 4.7 percentage points compared to the corresponding period
the previous year (84.0%). For the first time in any January transfer window, more
than 10% of the transfers were permanent transfers with a transfer agreement
between the two clubs (11.2% to be precise, an increase of 1.4 percentage points).
The number of loan agreements also increased (7.6% in January 2024 v. 3.9% in
January 2023). The remaining 2.0% were of players returning to their parent clubs
from prior loan spells.

Figure 9: Transfers by type (January 2024)

FIG 9 79.3%
of all transfers involved
Out of contract 79.3% out-of-contract players
Permanent 11.2%
Loan 7.6%
Return from loan 2.0
%

03. Women’s professional football 10

 Transfers by player age
In the 2024 January transfer window, players between the ages of 18 and 23 were the
most prominently featured age group in international transfers, constituting 46.2%
of all transfers involving players from that demographic. They were closely trailed
by players between the ages of 24 and 29, who accounted for 40.3% of the total
transfers. While players in these two age groups were engaged in almost the same
number of transfers with fees, the overall expenditure on transfer fees was notably
led by those aged 24 to 29, amassing a total fee of USD 1.5 million, which represented
71.8% of the total spending.

Figure 10: Transfers by player age (January 2024)

FIG 10
Without transfer fees 165
With transfer fees

18 144
17

147
127 Players aged 24 to 29
44 accounted for 40.3%
of all transfers and for
4 39 71.8% of the spending
on transfer fees
<18y 18-23y 24-29y ≥30y

11 03. Women’s professional football

Transfers by confederation
Most of the international transfers involving female professional players during the 2024 January transfer
window occurred between clubs within UEFA, with 218 incoming transfers and 187 outgoing transfers.
Nonetheless, a significant portion of the observed growth compared to the 2023 January window can be
attributed to heightened engagement by clubs from other confederations, most notably in Concacaf, where
the number of incoming transfers surged by almost 80% in comparison to the corresponding period in 2023.

Figure 11: Number of incoming and outgoing transfers in the 2024 January transfer window and growth rates compared to the 2023 January

FIG 11
transfer window by confederation

218 187
Transfers in Transfers out

+2.3% +8.7% 26 23
Transfers in Transfers out

+52.9% +76.9%
43 42
Transfers in Transfers out

+79.2% -16.0%

53 62
Transfers in Transfers out

+20.5% +8.8%

17 42 0 1
Transfers in Transfers out Transfers in Transfers out
-70.7% -33.3% n/a +0.0%

03. Women’s professional football 12

 Top associations
Clubs from England and Spain led the way, each with 29 incoming transfers during the 2024 January transfer
window. On the releasing side, Sweden and the USA jointly claimed the top position, recording 30 outgoing
transfers. Apart from the USA, Mexico and Morocco, the top five rankings were an exclusively European affair.

Figure 12: Associations featuring in at least one of the top five rankings by incoming or outgoing transfers in the 2024 January transfer
window and growth rates compared to the 2023 January transfer window (global ranks in parentheses)

ICELAND
NORWAY
1 (37) 10 (5)
Transfers in Transfers out 4 (23) 10 (5)
n/a +25.0% Transfers in Transfers out
-42.9% -28.6%

SWEDEN
0 30 (1)
Transfers in Transfers out
-100% +15.4%
ENGLAND

29 (1) 17 (3)
Transfers in Transfers out
-3.3% +88.9%

SPAIN GERMANY

29 (1) 11 (4) 25 (3) 10 (5)

Transfers in Transfers out Transfers in Transfers out
-14.7% +57.1% +38.9% +100.0%
USA

16 (10) 30 (1)
Transfers in Transfers out ITALY
n/a +11.1% MOROCCO
13 (12) 10 (5)
22 (4) 3 (37) Transfers in Transfers out
Transfers in Transfers out -7.1% +11.1%
+0.0% +0.0%

MEXICO
21 (5) 4 (25)
Transfers in Transfers out
+0.0% -20.0%

13 03. Women’s professional football

METHODOLOGY
All transfer data provided in this report relates exclusively to international transfers
of professional football players within the scope of 11-a-side football.

Transfer data has been analysed for all transfers completed between 1 January
2024 and 1 February 2024. The data was extracted from TMS on 9 February 2024.
When making comparisons with previous years, we used the interval from 1 January
to the last day of the official registration period of most European associations, i.e.
31 January for 2020, 2022 and 2023 and 1 February for 2021.

All references to transfer fees in this report are to the sum of all fixed, conditional and
release (buyout) fees as declared in TMS. All fees are treated as upfront payments
for calculation purposes, notwithstanding any instalment plans that may be agreed
by clubs. All amounts are automatically converted into USD based on the conversion
rate on the day when the transfer instruction is entered in TMS.

The numbers that feature in this report have been rounded.

Ties in graphs showing the top five associations have been broken at random.

We distinguish between four types of international transfers:

• Out of contract: when players who are no longer contractually bound

to any former club sign an employment contract with a new club in a
different association and no transfer agreement between clubs has
been signed.

• Loan: when players are temporarily engaged by a new club: a) on the

basis of a loan agreement between the club with which they have an
employment contract and a club of another association, during the
term of their employment contract with their parent club; or b) when
the loan is extended by the new club with the agreement of the parent
club.

• Return from loan: when players return to their parent club after a
loan spell at another club.

• Permanent: when players are permanently engaged by a new

club and a transfer agreement is signed between the new
club and the former club, or when a club permanently
engages players it has had on loan, with the agreement of
the former club.

03. Methodology 14
 DISCLAIMER
The information in this report is based on individual transaction data provided directly by football clubs in TMS.
FIFA assumes no responsibility for the accuracy, completeness and reliability of the information provided by
the clubs. With regard to any technical references included in this report, please be advised that in the event
of any contradiction between this report and the actual text of the relevant regulations, the latter shall always
prevail. Equally, this report may not alter existing jurisprudence of the competent decision-making bodies and
is without prejudice to any decision that the said bodies might be called upon to pass in the future.

Due to the nature of the TMS database, the presence of pending transfers, the potential cancellation of transfers,
and data corrections, numbers may differ from one report to another. In the event of any contradiction between
this report and other publications by FIFA, the most recent shall always prevail.

Source of data and preparation of report

The source of all data and information (unless

explicitly stated otherwise) is:

FIFA
Football Regulatory Subdivision
Legal & Compliance Division
Zurich, Switzerland

Data protection

The data contained in TMS and in this review

is covered by Swiss data protection law.

15 Disclaimer