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.

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".

The deals are continuing to flow in as preseason gets fully underway for all of the teams in MLS. Let's dig into the biggest deals you may have missed from the last 48 hours. LA Galaxy 'agree deal'

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.

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.

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.