ZURICH (AP) — Fueled by England and Saudi Arabia, clubs spent a record $2.35 billion on international transfer deals in a booming January trading period for men’s soccer, FIFA said Friday.

The 5,863 international transfers — those between clubs in different countries that are processed by FIFA — also was 900 more than the previous highest, which was recorded last year.

In January 2024, only one transfer — Gonçalo Ramos confirming a permanent move to Paris Saint-Germain from Benfica — was reportedly valued at more than 30 million euros ($31 million).

There were 10 such transfer fees agreed last month, including four to Manchester City, and topped by Colombia forward Jhon Durán’s $80 million move from Aston Villa to join Cristiano Ronaldo at Saudi club Al Nassr.

Big spenders

English clubs collectively spent the most with a $621.6 million outlay on transfer fees and recouped just $186 million selling players to clubs in other countries.

The next biggest deficit was Saudi Arabia, where clubs spent more than $160 million above what they earned. The spending of $202 million was mostly fueled by Al Nassr, Al Hilal and other clubs all owned with sovereign wealth by the Public Investment Fund.

German clubs spent $295.7 million, which was mostly offset by earning $226.2 million in transfer sales.

French clubs took in the highest total of transfer fees, $371 million, and spent just $209.7 million to make a collective profit of more than $160 million.

Clubs in Portugal made sales of $176.4 million and spent only $40.2 million for a combined profit of $136 million.

In the United States, clubs spent $145 million and took in $125 million in transfer fees, according to FIFA research.

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