Sell-onfees
Inadditiontotransferfees,clubsmayalsoagreetoincludeasell-onfee,whichguaranteesthereleasingclub apercentageofthetransferfeeofapotentialfuturetransferofthesameplayertoathirdclub.Therewere 2,726transferswithasell-onfeein2023–anewall-timehighand21.9%morethanin2022.Asasell-on feecanonlybeincludedforpermanenttransfersandloans,the2,726transfersrepresented45.7%ofall transfersforwhichasell-onfeeisfeasible.
Sell-onfeesarebecomingincreasinglycommoninthemoderngame,especiallyintransfersthatalsoinclude aregulartransferfee,60.0%ofwhichincludedsuchaclausein2023.Theseclausesarerarerintransfers withoutatransferfee,andin2023just28.3%ofthesetransfersincludedasell-onfee.
Figure5:Numberoftransferswithasell-onfeebysizeofthesell-onfeeandshareoftransferswithsell-onfeesintransferswith andwithoutatransferfee(onlyconsideringpermanenttransfersandloans)








































































































Trainingrewards
On16November2022,theFIFAClearingHousewentlivewiththeintroductionoftheFIFAClearingHouse RegulationsandcorrespondingchangestotheRSTP.Fromthatdateonwards,allplayertransfersand registrationseligiblefortrainingrewards(trainingcompensationandsolidaritycontribution)arecentrally identi��ed,automatedandprocessedviatheFIFAClearingHousesystem.
Fromapracticalperspective,thiscomprisedtheintroductionofanewElectronicPlayerPassport(EPP) processandthecreationofanew��nancialentityinParis,theFIFAClearingHouse(FCH),withtheaimof assessingclubs’compliancewith��nancialregulationsandprocessingthepayments.
In2023,19,710EPPsweregeneratedinTMS,outofwhich16,718(85%)wereclosed.Thetotalamount oftrainingrewardsallocatedtotrainingclubsviatheFIFAClearingHousesystemhasalreadyreached USD102.1million.Iftheremainingclaimsprocessedin2023relatingtotransfersthattookplacebefore 16November2022areincluded,thetotalamountallocatedin2023exceededUSD115million(around USD70millioninsolidaritycontributionandUSD45millionintrainingcompensation).Thisconstitutesan increaseofalmost35%comparedtotheUSD85.2milliondeclaredbyclubsfortransfersin2022.
ItisimportanttonotethattheamountoftrainingrewardsallocatedbytheFIFAClearingHousesystemisexpected tofurtherincreaseinfutureyears.Theamountofsolidaritycontributionpaidfortransfersthatwerecompleted in2023willcontinuetogrowinthefuture:everytimeaclubpaysaninstalmentofanagreedtransferfee,andthe allocationsforsomeofthetransfersthatoccurredin2023willonlybe��nalisedin2024.Bothoftheseeectsdid notoccurin2023asthemajortransferwindowsof2022werebeforetheintroductionoftheFCH.






































































































Oncetheamountshavebeenallocated,theFCHentity,basedinParis,onboardstheclubsasclientsafter athoroughcomplianceassessmentandthenprocessesthepayments.The��rstpaymentsbytheFCHwere executedinJune2023.
Oneconsequenceoftheautomationoftrainingrewardsthroughthe FIFAClearingHousesystemisthattheclaimsprocessfortraining rewardswillbecomeobsoleteasofNovember2024.Thepositive eectsstartedtobecomenoticeablein2023asthenumberof submittedclaimsdecreasedbyalmostonethird,withatotalof1,529 claimssubmittedin2023comparedto2,319in2022.


Toptransfers
Figure6showsthetopteninternationalplayertransfersbytotaltransferfeein2023.Thesetentransfers alonegeneratedmorethan10%oftheentireamountspentontransferfeesin2023.Similarly,ofthe3,279 transferswithfees,thetop100wereresponsibleformorethan45%ofalltransferfeesin2023.
Figure6:Toptentransfersbytotaltransferfee(2023)



BorussiaDortmund(Germany)JudeBellinghamRealMadrid(Spain)


Benca(Portugal) EnzoFernándezChelsea(England)

TottenhamHotspur(England)HarryKaneBayernMunich(Germany)



EintrachtFrankfurt(Germany)RandalKoloMuaniParisSaint-Germain(France)



ShakhtarDonetsk(Ukraine)MykhailoMudrykChelsea(England)

Playercharacteristics
In2023,playersbetween18and23yearsofageonceagaindominatedthenumberoftransferswithfeesas wellasthetotalspendingontransferfees,claimingmorethanhalfofeachtotal.Nevertheless,theaverage transferfeewashigherformoreexperiencedplayersin2023,withclubspayingthehighestaveragefee forplayersaged30andup.
Figure7furtherrevealsthesubstantialimpactofthesmallgroupoftransferswithfeesexceeding USD5millionontheoveralltotalspendingoninternationaltransfers.The199transfersofplayersbetween theagesof18and23withsuchahightransferfeerepresentedjust6.1%ofalltransferswithfees(andless than1%ofalltransfers).Atthesametime,however,theircombinedtransferfeesaccountedformorethan 40%oftheyear’stotal.Instarkcontrast,the1,227transfersinthesameagebracketwithamaximumfee ofUSD1millionaccountedfor37.4%ofalltransferswithfees,yetonlyaccountedfor2.8%ofthetotalfees.
Figure7:SpendingontransferfeesinUSD(leftcolumns)andnumberoftransferswithtransferfees(rightcolumns)bysizeof thetransferfeeandplayerage(2023)

















RBLeipzig(Germany)JoškoGvardiolManchesterCity(England)


Atalanta(Italy)RasmusHøjlundManchesterUnited(England)

ParisSaint-Germain(France)


NeymarAlHilal(SaudiArabia)












RBLeipzig(Germany)DominikSzoboszlaiLiverpool(England)


ACMilan(Italy)SandroTonaliNewcastleUnited(England)


































































Thereisastrongcorrelationbetweenthesizeofthetransferfeeandthedurationoftheemploymentcontract oeredtotheplayer.Intransferswithoutatransferfee,theaveragecontractdurationistypicallyalittle underone-and-a-halfyears(16.7monthsin2023).Fortransfersthatincludeafee,theaveragecontractis typicallymorethanonewholeyearlongerataround30months(30.3in2023).Asimilarrelationshipalso existswithintransferswithfees:thehigherthetransferfee,thelongerthecontractduration.
Figure8:DistributionofcontractdurationbysizeofthetransferfeeinUSD
































































































































Nationality
In2023,179dierentnationalitieswererepresentedbyatleastoneprofessionalplayerwhomovedacross borderstojoinanewclubabroad.Thetoptennationalities,intermsofthetotalnumberoftransfers andthetotalspendingontransferfeesin2023,areshowninFigure10below.WhileBrazilianplayers completedthemosttransfers(2,375),thebiggestoutlaywasonplayersfromFrance,withacombined sumofUSD1.29billionintransferfees.WhiletransfersofplayersfromtwoAfricannations–Nigeriaand Ghana–madethetoptenintermsofthenumberoftransfers,thetoptenspotsintermsofspendingwere stillheldexclusivelybynationalitiesfromSouthAmericaandEurope.
Figure10:Playernationalitiesfeaturinginatleastoneofthetoptenrankingsbynumberoftransfersandtotaltransferfees inUSD(2023,globalranksinparentheses)














Thedurationofacontractisalsocorrelatedwithtwofurtherfactors:thesalaryoeredtotheplayerand –toalesserextent–theplayer’sage.In2023,contractswithayearlytotal��xedremunerationofmorethan USD500,000hadanaveragedurationof32.3months–morethanawholeyearlongerthancontractswith lower��xedsalaries(17.4monthsonaverage).Similarly,youngerplayerstypicallyreceivelongercontracts thanolderteam-mates:theaveragedurationofacontractforplayersundertheageof24tendstobemore than��vemonthslongerthanforthoseaged24andolder(21.7v.16.3months).
Figure9:Distributionofcontractdurationbyplayer’syearlytotalxedremunerationandage
















872(4) Transfers +3.0% Growthintransfers 517.4m(4) Transferfees(USD) +108.0% Growthinfees
PORTUGUESE
250(24) Transfers -10.4%
442(10) Transfers +9.4% Growthintransfers
397.4m(6) Transferfees(USD) +3.1% Growthinfees
SPANISH
619(8) Transfers +2.1% Growthintransfers
280.2m(9) Transferfees(USD) +6.7% Growthinfees
965(3) Transfers +4.7% Growthintransfers 1,292.4m(1) Transferfees(USD) +120.1% Growthinfees





Transfersbyconfederation
Asinpreviousyears,clubsfromUEFAdominatedboththenumberoftransfersandtheamountspent ontransferfeesin2023.Forthe��rsttimesince2016,however,thetotalspendingofEuropeanclubs (USD7.79billion)stayedbelowtheirtotalreceipts(USD8.43billion).AsshowninFigure12,thiswaslargely duetotheincreasedspendingofclubsintheAFConplayersfromEuropeanclubs,anamountthatreached USD1.15billionin2023comparedtoUSD93.9millionintheyearbefore.
Figure11:Transfersandtransferfeesbyconfederationoftheclubsinvolved(2023)









Figure12:StreamsoftransfersandtransferfeesinUSDwithinandbetweenconfederations(2023)
















Transfersbyassociation
Forthesecondyearinarow,Portugueseclubsledthewayforincomingtransfers,withatotalof1,017such transfers.ClubsfromBrazilreleasedthehighestnumberofplayers,withatotalof1,217outgoingtransfers. Infact,thenumber-onetransferstreamin2023wasplayersmovingfromBraziltoPortugal(414transfers).
ClubsfromEnglandwereonceagain,byalongway,thebiggestspenders.Theirtotaloutlaynearlyhitthe USD3billionmark,buttheystillsetanewhighofalmostUSD2.96billion.England’sdominantroleisalso reectedinthetop��vestreamsoftransferfees,fourofwhichhadEnglandontheengagingside.Clubsfrom SaudiArabiafeaturedamongthetop��vespendersforthe��rsttimewithatotaloutlayofUSD970.0million in2023,comparedtoUSD50.4millionin2022.
ClubsfromGermanywerethenumber-onerecipientsoftransferfeeswithatotalofalmostUSD1.21billion, the��rst-evertimethatclubsfromanyoneassociationhavereceivedmorethanUSD1billionintransfer feesinacalendaryear.Thatbeingsaid,threemoreassociationsalsojoinedGermanyinthisexclusive groupin2023:France(withtotalreceiptsofUSD1.19billion),England(withUSD1.04billion)andItaly(with USD1.02billion).
Figure13:Associationsfeaturinginatleastoneofthetoptenrankingsbyincomingtransfers,outgoingtransfers,spendingon transferfeesorreceiptsfromtransferfees(2023,globalranksinparentheses)
NETHERLANDS
306(16) Transfersin 383(13) Transfersout
318.6m(7) Spending(USD) 529.5m(6) Receipts(USD)
681(3)
Transfersin 838(2)
Transfersout
428(10)
Figure14:Transferstreamsfeaturinginatleastoneofthetopverankingsbynumberoftransfersortotaltransferfees (2023,globalranksinparentheses)
ReleasingassociationTransferfees(USD)TransfersEngagingassociation
BELGIUM
402(12)
Transfersin 430(11)
Transfersout
241.5m(10) Spending(USD) 355.4m(8) Receipts(USD) USA
Transfersin 405(12) Transfersout
2,956.6m(1) Spending(USD) 1,041.4m(3) Receipts(USD)
FRANCE
GERMANY
455(8)
Transfersin 558(8)
Transfersout
850.7m(4) Spending(USD) 1,209.5m(1) Receipts(USD)
ITALY
Receipts(USD)
203.1m(12) Spending(USD) 139.4m(16)
487(5) Transfersin 685(6) Transfersout
991.8m(2) Spending(USD) 1,193.5m(2) Receipts(USD)
1,017(1)
Transfersin 731(4) Transfersout
269.3m(8) Spending(USD) 522.3m(7) Receipts(USD)
COLOMBIA
236(23) Transfersin 465(9) Transfersout
1.7m(53)
Spending(USD) 50.1m(25) Receipts(USD)
597(4)
Transfersin 773(3) Transfersout
469.2m(6) Spending(USD) 716.8m(5) Receipts(USD)
BRAZIL
922(2) Transfersin 1,217(1) Transfersout 146.2m(13) Spending(USD) 314.9m(9) Receipts(USD)
ARGENTINA
471(6) Transfersin 700(5) Transfersout
86.7m(16) Spending(USD) 276.8m(10) Receipts(USD)
NIGERIA
72(93) Transfersin 445(10) Transfersout -(102) Spending(USD) 5.1m(57) Receipts(USD)
428(10)
442(9)
Transfersin 561(7) Transfersout
757.6m(5) Spending(USD) 1,021.0m(4) Receipts(USD)

325.7m(5)31(80)
30.4m(63)80(3)
16.6m(97)188(2)
TÜRKIYE
Transfersin 337(15)
Transfersout
260.6m(9) Spending(USD) 161.2m(14) Receipts(USD)
SAUDIARABIA
456(7)
Transfersin 233(26) Transfersout
970.0m(3) Spending(USD) 16.9m(39) Receipts(USD)

6.8m(175)414(1)
Thescatterplotbelowshowshowclubsfromdierentmemberassociationsperformedinrespectof transferfees.Themajorityofassociationscanbefoundabovethediagonalline,whichmeansthattheir clubsreceivedmorefromoutgoingtransfersthantheyspentonincomingtransfers.
Inadditiontotheassociationsshowninthegraphbelow,therewere25associationswithclubsthatreceived transferfeesforoutgoingtransfersbutnoclubsthatspentanymoneyontransferfees.Similarly,tenassociations hadclubswithspendingontransferfeesbutnonewithreceiptsfromoutgoingtransfers.
Figure15:Distributionofassociationsbyspendingonandreceiptsfromtransferfees(2023)




Figure16:Numberofclubsbytypeoftransferactivity(2023)











































































Clubcharacteristics

Some64.4%ofthe4,971clubsthatwereactivelyinvolvedininternationaltransfersin2023onlycompleted incomingtransfersanddidnotreleaseaplayertoanotherclubabroad.The1,486clubsthatmadeboth incomingandoutgoingtransfersrepresented29.9%ofthetotal,whiletheremaining285clubs(5.7%) releasedatleastoneplayerinternationallybutdidnothaveanyincominginternationaltransfers.
Itmayseemlikemostclubsareonlyengagingbutnotreleasinganyplayersinternationally.Itshouldbe noted,however,thattransfersofplayersmovingoutofcontracttypicallydonotinvolveareleasingclub, buttheystillmakeupmorethan60%ofalltransfers.Transfersforwhicharelease(buy-out)clausewas activatedaretheonlyexceptiontothisrule;theseareout-of-contracttransfersbuttheyofcourserequirethe activeinvolvementofthereleasingclub.Thereisalsogreatvariationinthenumberoftransferscompleted byindividualclubs;whilethevastmajorityofclubscompletednomorethan��vetransfers,therewerealso severalclubsthatmademorethan20transfersin2023alone.

Figure17:Numberofclubsbynumberofincomingandoutgoingtransfers(2023)





Figure20:ToptenclubsfromCONMEBOLbyspendingontransferfees(2023)
ClubAssociation



Flamengo–RJ Brazil
Bahia–BA Brazil
VascodaGama–RJ Brazil


RiverPlate Argentina
Talleres(Cordoba) Argentina
Santos–SP Brazil


RedBullBragantino–SPBrazil
EstudiantesdeL.P. Argentina
RacingClub Argentina
Botafogo–RJ Brazil

Concacaf




Figure21:ToptenclubsfromConcacafbyspendingontransferfees(2023)
ClubAssociation








InterMiami USA

FCJuárez Mexico
PortlandTimbers USA

LAFC USA
RayadosdeMonterrey Mexico
CruzAzul Mexico


NewYorkCity USA
RealSaltLake USA
CharlotteMLS USA

FCCincinnati USA




Figure22:ToptenclubsfromtheAFCbyspendingontransferfees(2023)
ClubAssociation

AlHilalSFC SaudiArabia
AlAhli SaudiArabia








AlNassr SaudiArabia
AlIttihad SaudiArabia
Al-ArabiSC Qatar
Al-RayyanSC Qatar
AlEttifaq SaudiArabia
AlShabab SaudiArabia
Al-DuhailSC Qatar
Al-SaddSC Qatar



ClubAssociation









AlAhly Egypt
PyramidsFC Egypt
ClubSportifSfaxien Tunisia
MamelodiSundownsFCSouthAfrica
AlahlyBenghaziSC Libya
EspéranceSp.deTunis Tunisia
AhlyTripoli Libya
MCA Algeria
AlHilalKH Sudan
YoungAfricansSportsClubTanzania


















Figure23:ToptenclubsfromCAFbyspendingontransferfees(2023)














