The 10 most expensive January transfers of all time

Cameron Smith

• 12 Dec 2024 04:22 CST
• 7 min read

The 2024 January window was fairly quiet from a transfer perspective, with most big clubs deciding against spending huge amounts of money to bolster their squad.

It was a direct contrast from 2023, with Chelsea splashing €121 million on Enzo Fernandez and an initial €70m on Mykhailo Mudryk as their spending under Clearlake Capital continued.

Although clubs rarely enjoy making big-money signings midway through the season, that doesn’t always stop the richest teams in the world from spending untold fortunes on players.

So, who are the 10 biggest January transfer windows in football history?

READ MORE: What are the most expensive transfers of all time? The 50 highest fees in history

10. Diego Costa - €60m (Chelsea to Atletico Madrid, 2018)

Three-and-a-half years after leaving Atletico Madrid, Diego Costa returned to the club in January 2018 following a fall-out with Antonio Conte at Chelsea.

The Spaniard scored 59 goals in 120 games for Chelsea, helping them win two Premier League titles, but he left in unceremonious fashion in 2018.

Costa re-joined Atletico for €60m, however his form never justified that price tag and his contract was terminated in January 2021.

READ MORE: The 10 most expensive Premier League transfers of all time

9. Pierre-Emerick Aubameyang - €63.8m (Borussia Dortmund to Arsenal, 2018)

Pierre-Emerick Aubameyang spent four-and-a-half successful years at Borussia Dortmund, notching 141 goals in 213 games for the club as he battled Robert Lewandowski for the honour of being the Bundesliga’s most lethal forward.

His form in Germany caught the attention of Arsenal and the north London giants opted to spend €63.8m to bring him to the Emirates Stadium in January 2018.

The Gabonese striker enjoyed a prolific stint with the Gunners, becoming a fan favourite in the process, however his time at the club ended in disappointing fashion. Aubameyang was stripped of the captaincy before leaving by mutual consent in 2022.

8. Christian Pulisic - €64m (Borussia Dortmund to Chelsea, 2019)

Christian Pulisic was courted by a host of top European clubs following his breakthrough at Borussia Dortmund, but Chelsea won the race for his signature in January 2019.

Following a loan spell back at Dortmund, Pulisic enjoyed an eye-catching debut campaign at Chelsea, but injuries soon took their toll and he was unable to establish himself as a regular starter at Stamford Bridge.

After 145 games and 26 goals for the club, Pulisic left Chelsea to join AC Milan for €20m in 2023.

7. Bruno Fernandes - €65m (Sporting CP to Man Utd, 2020)

Bruno Fernandes moved to Udinese at the age of 19, but after returning to Portugal with Sporting CP, he emerged as one of Europe’s best attacking midfielders.

He registered 113 goal contributions in 137 matches for Sporting, which prompted Manchester United to spend €65m to sign him in January 2020.

Fernandes immediately hit the ground running with eight goals and seven assists in 14 Premier League appearances during his first half-season at Old Trafford, while he was named club captain by Erik ten Hag in 2023.

6. Aymeric Laporte - €65m (Athletic Club to Man City, 2018)

Despite being born in France, Aymeric Laporte was eligible to play for Athletic Club through his great-grandparents and he joined the Spanish side as a 16-year-old back in 2010.

After progressing into the first-team, Laporte made 222 senior appearances for the club before Manchester City came knocking in January 2018.

Pep Guardiola’s side stumped up €65m to sign the defender and he made an instant impact upon his arrival at the Etihad Stadium. 180 appearances and 16 trophies later, Laporte left Man City to join Al-Nassr for €27.5m in August 2023.

5. Mykhailo Mudryk - €70m (Shakhtar Donetsk to Chelsea, 2023)

Mykhailo Mudryk was one of Europe’s most exciting prospects during his time at Shakhtar Donetsk, although his move to Chelsea was heavily criticised amid the Blues’ lucrative spending under Clearlake Capital.

Mudryk notched 10 goals and eight assists in 18 games across the Ukrainian top flight and the Champions League in the first half of 2022-23, which attracted significant interest from Arsenal.

The Gunners were on the verge of agreeing a deal to sign Mudryk in January 2023, but Chelsea hijacked the deal and he moved to Stamford Bridge for an initial transfer fee of €70m.

4. Dusan Vlahovic - €83.5m (Fiorentina to Juventus, 2022)

Dusan Vlahovic scored 20 goals in 24 games during the first half of the 2021-22 campaign and his immense form at Fiorentina attracted the attention of virtually every elite club in Europe.

Arsenal and Chelsea were both interested in bringing the Serbian forward to the Premier League, but he moved across Italy to join Juventus instead, with the Turin outfit spending €83.5m to sign him on a permanent deal.

Vlahovic became Juve’s fourth most expensive signing of all time and Fiorentina’s record departure upon his arrival at the Allianz Stadium.

3. Virgil van Dijk - €84.7m (Southampton to Liverpool, 2018)

Virgil van Dijk was expected to join Liverpool in 2017, but the Reds were forced to end their interest in the Dutchman after being accused of “tapping him up” by Southampton.

However, Jurgen Klopp was determined to land the centre-back and Liverpool struck an €84.7m agreement in late December, with Van Dijk arriving at Anfield on 1 January 2018.

The Netherlands stalwart helped Liverpool win the Champions League during his first full season at the club, while he played a key role as the club won the Premier League title for the very first time the following year.

2. Enzo Fernandez - €121m (Benfica to Chelsea, 2023)

Enzo Fernandez was a huge prospect at River Plate, but he catapulted himself onto the biggest stage of all thanks to his short stint at Benfica and his form at the 2022 World Cup in Qatar.

The midfielder was named as a substitute in Argentina’s opening two group stage games, but after scoring off the bench against Mexico, he became an indispensable player for Lionel Scaloni’s side.

Fernandez went on to win the Young Player of the Tournament award as Argentina lifted the trophy and after interest from Barcelona, Real Madrid and several others, he joined Chelsea for a whopping €121m.

1. Philippe Coutinho - €135m (Liverpool to Barcelona, 2018)

Philippe Coutinho is the most expensive signing in the history of the January transfer window.

After failing to sign him during the 2018 summer window, Barcelona were determined to land the Brazilian in January and they finalised an agreement with Liverpool after agreeing to pay a whopping €135m for the midfielder.

The Blaugrana were eager to bolster their first-team squad following a serious hamstring injury to Ousmane Dembele, but Coutinho’s time at Camp Nou didn’t go as planned and after two loan spells away, he joined Aston Villa on a permanent deal in 2022.

The 10 most expensive January transfers of all time