Football · The Window LedgerPublished · 2026-08-16
The Window Ledger
€332m in, €131m out: Major League Soccer's 2025/26 ledger across 536 moves
What the league paid, what it recouped, and the 71% of its business that carried no fee at all.
THE BACK PAGE · the money behind the move · ACTUAL SPORTS MEDIA
Across 2025/26, Major League Soccer recorded 536 incoming moves. 154 of them carried a disclosed fee; the other 382 (71%) were frees, loans or undisclosed.
Spent
€332m
Disclosed incoming fees, 2025/26.
Banked
€131m
Disclosed fees received, 2025/26.
Net
+€200m
Spend minus receipts. Not a profit-and-loss — wages and amortisation are not in this record.
Deals with no disclosed fee
71%
Undisclosed is a real outcome, not a missing number, and is never estimated here.
| Player | From | To | Fee |
|---|---|---|---|
| Heung-min Son | Tottenham | LAFC | €22.0m |
| Heung-min Son | Tottenham Hotspur | Los Angeles Galaxy | €22.0m |
| Josh Sargent | Norwich | Toronto | €18.6m |
| Rodrigo De Paul | Atlético | Miami | €15.0m |
| Germán Berterame | Monterrey | Miami | €12.6m |
| Nicolás Fernández Mercau | Elche CF | New York City | €8.0m |
| Facundo Torres | Palmeiras | Austin | €8.0m |
| Paxten Aaronson | Frankfurt | Colorado | €7.0m |
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 2026-08-16Partial wages, amortisation withheld — the evidence didn't support it
Follow the moneyOpen Major League Soccer in Actual Transfer Market — every move, every fee, every clause, and what the market paid against what it was worth.Open Major League Soccer →Powered by Actual Sport Intelligence