Global transfers during the January window broke the $2 billion (£1.6bn) mark for first time in the men's game according to FIFA data, with Premier League champions Manchester City accounting for 10% of the spending spree with a $223m (£179m) outlay on four new players.
Pep Guardiola's squad at the Etihad Stadium was bolstered by the signings of Omar Marmoush, Nico González, Abdukodir Khusanov and Vitor Reis during the January transfer window, helping confirm the Premier League as the biggest-spending league with a $621.6m (£498.7m) outlay in total.
The top five was completed by clubs in Germany ($295.7m), Italy ($223.8m), France ($209.7m) and Saudi Arabia ($202.1m).
Meanwhile, clubs in France received the highest amount in transfer fees ($371m), followed by clubs in Germany ($226.2m), England ($185.2m), Portugal ($176.4m) and Italy ($162m).
Brazil came out on top for the most incoming transfers (471), followed by Argentina (265), Portugal (207), Spain (200) and England (190). The country with the highest number of outgoing transfers was Argentina (255), with Brazil (212), England (211), the United States (188) and Portugal (170) rounding out the top five.
In total, 5,863 transfers were completed -- a rise of 19.1% on Jan 2024, the previous record -- according to a report composed by FIFA's Legal & Compliance Division.
The $2.35bn overall spend was up 57.9% on the 2024 winter window and 47.1% higher than the previous record from January 2023.
Jhon Duran's $79.9m (£64.1m) move was the biggest deal of the window in the men's game with the Colombia international leaving Aston Villa to link up with Cristiano Ronaldo at Saudi Pro League team Al Nassr.
Meanwhile, records were also set in the women's game. $5.8m (£4.66m) was spent on transfer fees (+180.6%) and a total of 455 international transfers were made in January.
Clubs in England were the top spenders in women's football, too, ($2.3m) and they also made the most incoming transfers (39). January 2025 was also the first transfer window to witness transfers with fees of more than $1m (£802.9k) in women's professional football.