Football · The Window LedgerPublished · 2026-08-15
The Window Ledger
€21.6m in, €85.4m out: the Croatian HNL's 2025/26 ledger across 280 moves
What the league paid, what it recouped, and the 90% of its business that carried no fee at all.
THE BACK PAGE · the money behind the move · ACTUAL SPORTS MEDIA
Across 2025/26, the Croatian HNL recorded 280 incoming moves. 29 of them carried a disclosed fee; the other 251 (90%) were frees, loans or undisclosed.
Spent
€21.6m
Disclosed incoming fees, 2025/26.
Banked
€85.4m
Disclosed fees received, 2025/26.
Net
−€63.8m
Spend minus receipts. Not a profit-and-loss — wages and amortisation are not in this record.
Deals with no disclosed fee
90%
Undisclosed is a real outcome, not a missing number, and is never estimated here.
| Player | From | To | Fee |
|---|---|---|---|
| Dion Beljo | Augsburg | Dinamo Zagreb | €4.0m |
| Gonzalo Villar | Granada CF | Dinamo Zagreb | €3.0m |
| Matteo Pérez Vinlöf | FC Bayern II | Dinamo Zagreb | €2.0m |
| Moris Valincic | NK Istra | Dinamo Zagreb | €1.4m |
| Mateo Lisica | NK Istra | Dinamo Zagreb | €1.3m |
| Sergi Domínguez | Barça Atlètic | Dinamo Zagreb | €1.2m |
| Gabriel Vidovic | Bayern Munich | Dinamo Zagreb | €1.2m |
| Monsef Bakrar | New York City | Dinamo Zagreb | €1.0m |
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 2026-08-15Partial wages, amortisation withheld — the evidence didn't support it
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