FIFA’s transfer data shows record activity across international football. The Global Transfer Report for 2025 recorded $13.08 billion in international professional men’s transfer fees, up 52.3% from 2024, while the Transfer Matching System recorded more than €10.4 billion in spending during the summer 2026 window, surpassing the €9.9 billion record set in summer 2025. More than 260 players who featured at the 2026 FIFA World Cup subsequently changed clubs. Their moves generated roughly $2.8 billion to $3 billion in direct fees, while agent fees, sell-on clauses and other payments lifted the broader economic impact to approximately $4 billion. An earlier FIFA-linked estimate put World Cup stars’ transfer fees at $3.3 billion, leaving a discrepancy between the reported totals. Premier League clubs accounted for $3.82 billion of 2025 spending, including more than $3 billion during the mid-year window, while global mid-year spending reached $9.76 billion. The market also recorded a record 24,558 international men’s transfers. Women’s football spending rose to $28.6 million, but remained roughly 457 times below the men’s total. FIFA also opened its TMS Help Centre publicly, providing information on the FIFA Clearing House and Electronic Player Passports. Rising valuations and spending have increased financial risks for clubs, including exposure to large losses when high-value signings underperform or suffer serious injuries.