Football · The Window LedgerPublished · 2026-08-16
The Window Ledger
€405k in, €0 out: the Bulgarian First League's 2025/26 ledger across 66 moves
What the league paid, what it recouped, and the 92% of its business that carried no fee at all.
THE BACK PAGE · the money behind the move · ACTUAL SPORTS MEDIA
Across 2025/26, the Bulgarian First League recorded 66 incoming moves. 5 of them carried a disclosed fee; the other 61 (92%) were frees, loans or undisclosed.
Spent
€405k
Disclosed incoming fees, 2025/26.
Banked
€0
Disclosed fees received, 2025/26.
Net
+€405k
Spend minus receipts. Not a profit-and-loss — wages and amortisation are not in this record.
Deals with no disclosed fee
92%
Undisclosed is a real outcome, not a missing number, and is never estimated here.
| Player | From | To | Fee |
|---|---|---|---|
| Ognjen Gasevic | Budućnost | CSKA 1948 Sofia | €150k |
| Dragan Grivić | Budućnost | CSKA 1948 Sofia | €120k |
| Egor Parkhomenko | Neman Grodno | CSKA 1948 Sofia | €70k |
| Juanmi Carrión | Antequera | CSKA 1948 Sofia | €50k |
| Sadio Dembélé | Aalen | CSKA 1948 Sofia | €15k |
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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