FIFA says men's soccer clubs spent a record $2.35 billion on international transfer deals in a booming January trading period, fueled by England and Saudi Arabia.

Clubs worldwide spent a record $2.35 billion on international transfers in men's soccer in the January window, nearly a 58% increase from last year, world soccer's governing body FIFA said in a study published on Friday.

Man City needed a midfielder but only valued González's transfer at €40m before they eventually relented on deadline day to pay his €60m release clause. The 23-year-old is a good addition, who knows how to play in the style of a Pep Guardiola team, but it does feel like a bit of a panic move from City.

The collective spending of all 20 teams in Spain's top flight was €26.1m, making it the 16th highest-spending league in football this winter

Manchester City's January spending was not a precautionary measure for a future transfer embargo, manager Pep Guardiola said, adding the club would learn the verdict of a hearing into their alleged violations of Premier League regulations in "one month".

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.

Transfer activity during the 2024-25 winter window set new records in numbers and total spending, according to a report published by football governing body FIFA on Friday. According to the organization,

The January 2025 transfer window shattered records across the footballing world, with global spending hitting an unprecedented $2.35 billion, according to FIFA’s International Transfer Snapshot. This marks a nearly 20% increase from the previous January high set in 2024.