Football · The Window LedgerPublished · 2026-08-13
The Window Ledger
€3.2m in, €10.4m out: the Bulgarian First League's 2025/26 ledger across 23 moves
What the league paid, what it recouped, and the 74% 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 23 incoming moves. 6 of them carried a disclosed fee; the other 17 (74%) were frees, loans or undisclosed.
Spent
€3.2m
Disclosed incoming fees, 2025/26.
Banked
€10.4m
Disclosed fees received, 2025/26.
Net
−€7.2m
Spend minus receipts. Not a profit-and-loss — wages and amortisation are not in this record.
Deals with no disclosed fee
74%
Undisclosed is a real outcome, not a missing number, and is never estimated here.
| Player | From | To | Fee |
|---|---|---|---|
| Pastor | Farense | CSKA Sofia | €800k |
| Joel Andersson | Midtjylland | Ludogorets | €720k |
| Isaac Solet | Slavia Sofia | CSKA Sofia | €500k |
| Maks Ebong | FC Astana | CSKA Sofia | €425k |
| David Seger | Östers IF | CSKA Sofia | €400k |
| Stanislav Ivanov | Arda Kardzhali | Ludogorets | €350k |
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 2026-08-13Partial wages, amortisation withheld — the evidence didn't support it
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