The Five Most Expensive Premier League January Transfers of All-Time

FT Desk

• 31 Jan 2025 08:30 CST
• 5 min read

Football managers often bemoan the January transfer window because it is a difficult market to operate in.

Players available for transfer have often not regularly featured for their respective clubs, and clubs do not want their first-team players to leave. These two facts lead to overinflated prices; there are seldom any bargains in January.

That said, Premier League teams have historically splashed the cash in January, bolstering their squads with elite-level players and doing so for sums of money that make your eyes water. The five most expensive January Premier League transfers weigh in at an incredible £358.56 million. Here are those five superstars and the transfer fees they commanded.

Enzo Fernandez (Benfica to Chelsea) - £106.8 million

On January 31, 2023, not only was the most expensive British transfer fee paid, but also one of the most expensive association football transfers of all time. According to the MyBookie online sportsbook, Chelsea had no chance of qualifying for European competition. They were languishing in tenth place in the Premier League following a 4-1 defeat away to Liverpool. Mauricio Pochettino's squad desperately needed reinforcements, and they arrived in the shape of Enzo Fernandez.

The Argentinian midfielder started his career at River Plate before moving to Benfica in June 2022. After winning the Best Young Player award at the 2022 FIFA World Cup, Fernandez was on some of Europe's top teams' radar, but Chelsea acted first. Benfica was adamant Fernandez would not be sold for less than his €121 million release clause. Chelsea agreed to pay €121 million (£106.8 million) on transfer deadline day.

The fee was the largest paid by a Premier League team and is the fifth most expensive transfer ever.

Virgil van Dijk (Southampton to Liverpool) - £75 million

Virgil van Dijk made a name for himself playing for Celtic in the Scottish Premiership between January 2013 and September 2015. The 6ft 5in man mountain moved to Premier League outfit Southampton for £13 million and quickly became club captain and a rock in the heart of the Southampton defense.

During the 2018 winter transfer window, Van Dijk joined Liverpool for £75 million, a world record for a defender. The Dutchman was an instant hit at Anfield, guiding the team to UEFA Champions League glory in his second season and the Premier League title the season after.

At the time of writing, Van Dijk has played 299 games for Liverpool in all competitions, scored 25 goals, and prevented countless more from being conceded.

Mykhaylo Mudryk (Shakhtar Donetsk to Chelsea) - £62 million

Chelsea paid Ukrainian Premier League team Shakhtar Donetsk £62 million on January 15, 2023, to secure Mykhaylo Mudryk's signature. The £62 million Chelsea paid is an initial payment, which could rise to £89 million if specific targets are met. Mudryk is unlikely to trigger that additional £17 million because the winger has endured a torrid time at Stamford Bridge.

Mudryk has struggled to adapt to the pace and physicality of the Premier League and has found himself in and out of Chelsea's starting XI. The Ukrainian has worn Chelsea's famous blue 73 times, scoring 10 goals and assisting nine for teammates. However, he may never play for Chelsea again because he faces a potential four-year professional football ban.

On December 17, 2024, the Football Association provisionally suspended Mudryk after he tested positive for the banned performance-enhancing drug meldonium. Mudryk and Chelsea are currently waiting for the results of his B-Sample. If they come back positive, Mudryk faces four years on the sidelines.

Christian Pulisic (Borussia Dortmund to Chelsea) - £57.56 million

Chelsea had a 12-year-old Christian Pulisic on a five-day trial in the summer of 2010 but opted not to offer him a scholarship. Chelsea's loss was German giants Borrusia Dortmund's gain because the attack-minded American joined them as a fresh-faced 17-year-old in early 2015. Pulisic played 127 games for Dortmund, scoring 19 goals.

On January 2, 2019, Chelsea agreed to pay Dortmund £57.56 million for Pulisic; the Premier League club agreed to allow Pulisic to stay in Germany until the end of the season. The fee broke the record for a North American player.

Pulisic started his Chelsea career strongly, scoring a perfect hat-trick in a 4-2 win against Burnley. It was the American's first career hat-trick, and he became the youngest Chelsea player to score three goals in a game at the age of 21 years and 38 days.

Pulisic scored 26 goals in 145 appearances for Chelsea but fell out of favor during the 2022-23 season. In July 2023, AC Milan paid €22 million for Pulisic, and he has become a fan favorite.

Aymeric Laporte (Athletic Bilbao to Manchester City) - £57.2 million

During the 2017-18 Premier League season, Manchester City was in the market for a left-sided central defender, and head coach Pep Guardiola saw Frenchman Aymeric Laporte as the man he wanted to build his defense around. Laporte had played 222 games for Athletic Bilbao, and the La Liga outfit did not want to let their best defender leave. However, Laporte had a £57.2 million release clause in his contract, which Manchester City met.

Laporte made his Manchester City debut only one day after signing for the club. Thanks to making nine Premier League appearances during his first season, Laporte was eligible for a Premier League winner's medal.

Injuries plagued Laporte's career in England, limiting him to 121 Premier League appearances over six seasons. In August 2023, Saudi Pro League club Al-Nassr, the team Cristiano Ronaldo plays for, signed Laporte for a reported £23.6 million fee.

Will a 2024-25 January Transfer Spoil This List?

The current winter transfer window remains open for Premier League teams until February 3, so there is a chance someone will break the bank and sign a player deserving of being in this article. While there has been a lack of big-money transfers in the English top flight so far, Chelsea is heavily linked with a £60 million move for Manchester United winger Alejandro Garnacho.

Should that move go through, Garnacho would become the third-most-expensive Premier League winter transfer since the competition began.