Football · The Window LedgerPublished · 2026-08-17
The Window Ledger
€1,479m in, €1,362m out: Serie A's 2025/26 ledger across 1131 moves
What the league paid, what it recouped, and the 82% of its business that carried no fee at all.
THE BACK PAGE · the money behind the move · ACTUAL SPORTS MEDIA
Across 2025/26, Serie A recorded 1131 incoming moves. 198 of them carried a disclosed fee; the other 933 (82%) were frees, loans or undisclosed.
Spent
€1,479m
Disclosed incoming fees, 2025/26.
Banked
€1,362m
Disclosed fees received, 2025/26.
Net
+€118m
Spend minus receipts. Not a profit-and-loss — wages and amortisation are not in this record.
Deals with no disclosed fee
82%
Undisclosed is a real outcome, not a missing number, and is never estimated here.
| Player | From | To | Fee |
|---|---|---|---|
| Gonçalo Ramos | Paris Saint-Germain | AC Milan | €74.0m |
| Christopher Nkunku | Chelsea | AC Milan | €37.0m |
| Ardon Jashari | Club Brugge | AC Milan | €36.0m |
| Francisco Conceição | Porto | Juventus | €32.0m |
| Sam Beukema | Bologna | Napoli | €31.0m |
| Nico González | Fiorentina | Juventus | €28.1m |
| Lorenzo Lucca | Udinese | Napoli | €26.0m |
| Noa Lang | PSV | Napoli | €25.0m |
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 2026-08-17Partial wages, amortisation withheld — the evidence didn't support it
Follow the moneyOpen Serie A in Actual Transfer Market — every move, every fee, every clause, and what the market paid against what it was worth.Open Serie A →Powered by Actual Sport Intelligence