Football · The Window LedgerPublished · 2026-08-13
The Window Ledger
€15.6m in, €17.8m out: Ligue 2's 2025/26 ledger across 26 moves
What the league paid, what it recouped, and the 77% of its business that carried no fee at all.
THE BACK PAGE · the money behind the move · ACTUAL SPORTS MEDIA
Across 2025/26, Ligue 2 recorded 26 incoming moves. 6 of them carried a disclosed fee; the other 20 (77%) were frees, loans or undisclosed. It is France's tier-2 competition, and it still moves this much money.
Spent
€15.6m
Disclosed incoming fees, 2025/26.
Banked
€17.8m
Disclosed fees received, 2025/26.
Net
−€2.1m
Spend minus receipts. Not a profit-and-loss — wages and amortisation are not in this record.
Deals with no disclosed fee
77%
Undisclosed is a real outcome, not a missing number, and is never estimated here.
| Player | From | To | Fee |
|---|---|---|---|
| Chico Lamba | Arouca | Saint-Étienne | €6.0m |
| João Ferreira | Watford | Saint-Étienne | €3.0m |
| Irvin Cardona | Augsburg | Saint-Étienne | €2.5m |
| Mahmoud Jaber | Maccabi Haifa | Saint-Étienne | €2.0m |
| Maxime Bernauer | Dinamo Zagreb | Saint-Étienne | €1.2m |
| Marten-Chris Paalberg | Pärnu Vaprus | Saint-Étienne | €900k |
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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