Football · The Window LedgerPublished · 2026-08-16
The Window Ledger
€131m in, €275m out: the Argentine Primera División's 2025/26 ledger across 1005 moves
What the league paid, what it recouped, and the 91% of its business that carried no fee at all.
THE BACK PAGE · the money behind the move · ACTUAL SPORTS MEDIA
Across 2025/26, the Argentine Primera División recorded 1005 incoming moves. 92 of them carried a disclosed fee; the other 913 (91%) were frees, loans or undisclosed.
Spent
€131m
Disclosed incoming fees, 2025/26.
Banked
€275m
Disclosed fees received, 2025/26.
Net
−€144m
Spend minus receipts. Not a profit-and-loss — wages and amortisation are not in this record.
Deals with no disclosed fee
91%
Undisclosed is a real outcome, not a missing number, and is never estimated here.
| Player | From | To | Fee |
|---|---|---|---|
| Maximiliano Salas | Racing Club | River Plate | €8.0m |
| Aníbal Moreno | Palmeiras | River Plate | €7.0m |
| Tobías Ramírez | Argentinos Jrs. | River Plate | €4.3m |
| Tobías Ramírez | Asociación Atlética Argentinos Juniors | Club Atlético River Plate | €4.3m |
| Juan Carlos Portillo | CA Talleres | River Plate | €4.3m |
| Matías Galarza | CA Talleres | River Plate | €4.3m |
| Giuliano Galoppo | São Paulo | River Plate | €4.0m |
| Marco Pellegrino | AC Milan | Boca Juniors | €3.5m |
A league ledger measures money moved, not quality bought. The share of business done without a fee is the number most often skipped, and it is usually the majority of it.
Transfer record, fees and market values: ACTUAL TRANSFER MARKET (actualtransfermarket.com). Analysis: ACTUAL SPORT INTELLIGENCE.
Confidence HighEvidence Actual Sport IntelligencePublished 2026-08-16Partial wages, amortisation withheld — the evidence didn't support it
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