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Transfer fees have entered another stratosphere in the 21st century, with inflation pushing sums from high in the tens of millions to nine figures for the first time in the history of the sport.
Football’s commercialisation and TV rights deals mean that leading clubs have huge financial muscle to flex, and it’s projected that fees could reach between £350 million and £650m ($443m-$708m) by the year 2050.
There have been plenty of transfers that have pushed valuations to these new heights, but which have been the most expensive of the 21st century so far? Below, GOAL runs through the top 25 and gauges whether they have been a hit or miss:
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Getty Images25Harry Maguire (Man Utd – £72m)
Manchester United grossly overspent on Harry Maguire back in 2019, and the centre-back has never been able to live up to his price tag in what has been a tumultuous period in the club’s history.
The England international has had periods of form and popped up in some key moments, but he is widely considered to be something of a liability due to a number of high-profile errors and unimpressive displays.
Result? Miss.
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Getty Images24Jadon Sancho (Man Utd – £73m)
Another Manchester United move that went awry. The Red Devils seemed to have pulled off a real coup when they saw off competition to land Jadon Sancho from Borussia Dortmund in 2021 for what seemed like a reasonable fee at the time.
However, poor form and a monumental falling-out with then-manager Erik ten Hag saw Sancho’s time at Old Trafford go badly wrong, culminating in him being loaned back to Dortmund before a summer switch to Chelsea in a loan-to-buy deal.
Result? Miss.
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Getty Images23Romelu Lukaku (Man Utd – £75m)
The start of this list will make grim reading for Manchester United fans. United broke the bank to sign Belgian striker Romelu Lukaku from Everton for a then-record fee, but he flattered to deceive in two seasons at Old Trafford, scoring 42 times in 96 appearances.
Despite a fast start, Lukaku fell out of favour under Ole Gunnar Solskjaer, and after a deterioration in the relationship it was deemed best for all parties that he moved on as he joined Inter.
Result? Miss.
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Getty Images22Gonzalo Higuain (Juventus – £75.5m)
Juventus have a habit of shelling out when they deem it necessary, and they did just that to snare the prolific Gonzalo Huguain from rivals Napoli in 2016 as they triggered his release clause.
The Argentine repaid that investment by plundering 40 Serie A goals in two seasons as he helped to fire the Bianconeri to two Scudetti, though he was unable to end their Champions League hoodoo.
Result? Hit.
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Getty Images21Neymar (Al-Hilal – £77.5m)
Paris Saint-Germain’s clear-out of their ‘bling-bling’ superstars saw Neymar dramatically join big-spending Saudi side Al-Hilal in 2023, but so far things have not gone according to plan in the Gulf state.
The attacker suffered an ACL injury just two months after completing the third blockbuster transfer of his career, and has only just recovered more than one year later, amid talk that his mammoth contract could be terminated.
Result? Miss.
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Getty20Josko Gvardiol (Man City – £77.5m)
One of the most recent in a string of defensive signings Manchester City have made under Pep Guardiola. Nominally a centre-back, ex-RB Leipzig man Gvardiol has reinvented himself as an attacking full-back under the revered Catalan.
The Croatian has demonstrated his unlikely finishing ability on numerous occasions and is undoubtedly one of the first names on the teamsheet after a little over a season with the club.
Result? Hit.
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Getty Images19Cristiano Ronaldo (Real Madrid – £80m)
Needless to say, this will probably go down as one of the most successful transfers in the history of the game. After leaving Manchester United behind in 2009, Ronaldo would go on to become Real Madrid’s greatest-ever goal-scorer.
The Portuguese icon netted 451 times in 438 appearances for Los Blancos, winning the Champions League four times – including three in a row – La Liga twice and four further Ballons d’Or. An unequivocal hit.
Result? Hit.
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Getty Images18Antony (Man Utd – £81m)
From one of the best transfers of the 21st century to one of the worst; Antony’s switch to Manchester United from Ajax has been an unmitigated disaster. Ten Hag brought the Brazilian with him to Manchester from Ajax in 2022 after protracted negotiations, but he has done nothing to justify his price tag.
The winger does not seem to be cut out for the Premier League, and his poor form and off-field controversies have made him an unpopular figure at Old Trafford. It will be interesting to see how long he lasts under Ruben Amorim.
Result? Miss.
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Getty Images17Harry Kane (Bayern Munich – £82m)
Already prolific, Harry Kane has taken his goal-scoring exploits to another level in Germany after leaving Tottenham for Bayern Munich in 2023. The England captain has feasted against Bundesliga defences and is scoring at a rate of a goal per game so far (61 in 61).
However, that long-awaited trophy has still eluded him as Bayer Leverkusen sprung a surprise to claim the league title last term. He will be desperate to put that right.
Result: Hit.
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Getty Images16Gareth Bale (Real Madrid – £85m)
Gareth Bale’s Real Madrid legacy is a complex one, as the Spanish media often framed him as the enemy at the Bernabeu and he seemingly fell out of love with the club. But you cannot argue with his highlights reel, trophy cabinet and the raw statistics.
The big-money signing from Tottenham was a sensation in his time in the Spanish capital, with the Welsh winger making 183 goal contributions in 258 games while winning countless honours, including the Champions League five times.
Result? Hit.
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Getty Images15Jude Bellingham (Real Madrid – £88.5m)
More evidence that Real Madrid rarely miss when they spend big, midfield dynamo Jude Bellingham is their most recent big-money buy to deliver the goods in the famous white shirt.
The England international was prolific in his debut campaign as Los Blancos secured a La Liga and Champions League double, and although he is not scoring at the same rate this time around, he is still influential to Carlo Ancelotti’s side.
Result? Hit.
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Getty Images14Paul Pogba (Man Utd – £89m)
Another player with a complex past with the club that spent so much on him. Paul Pogba was capable of moments of technical brilliance, but too often flattered to deceive in a Manchester United shirt and never really fulfilled his potential at Old Trafford.
Having come through the academy, he was re-signed from Juventus for an astronomical fee in 2016. His strongest season came in 2018-19 as he contributed to 27 goals, but that was as good as it got as niggling injuries disrupted his flow.
Result? Miss.
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Getty Images13Eden Hazard (Real Madrid – £89m)
Eden Hazard had a spotless injury record at Chelsea, but as soon as he completed his long-anticipated transfer to Real Madrid in 2019, his problems began – and they would ultimately force him into a sad early retirement.
Widely regarded as one of the best players in the world at the time, he could only muster 76 appearances in four years at the Bernabeu, with a raft of fitness issues derailing his dream move to Los Blancos.
Result? Miss.
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Getty Images12Ousmane Dembele (Barcelona – £97m)
Part of Barcelona’s huge splurge in 2017 as they desperately sought to replace Neymar, the club hedged their bets on Ousmane Dembele reaching similar levels having been touted as another wonderkid.
However, the French winger would never hit the heights at Camp Nou and became a source of frustration given his huge price tag. Injuries didn’t help, but his numbers were always pretty modest for such a costly signing. The nature of his exit to PSG left a bad taste, too.
Result? Miss.
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Getty Images11Romelu Lukaku (Chelsea – £97.5m)
Lukaku’s second appearance on this list. Hailed as the signing that could fire Chelsea to the Premier League title in 2021, the Belgian’s return proved to be ill-fated. Things started well as he bagged three goals in three league games, but injuries and an ill-considered interview with Italian media proved to be his downfall as he fell foul of Thomas Tuchel.
He would become peripheral and lasted just one season back at Stamford Bridge despite his eye-watering price tag, being loaned back to Inter and subsequently to Roma before finally being sold to Napoli in 2024.
Result? Miss.
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Getty Images10Cristiano Ronaldo (Juventus – £99m)
There was an element of risk in spending such a significant amount on a 33-year-old when Juventus decided to move for Ronaldo in 2018, who felt undervalued by Los Blancos at the time, but they were probably always confident it would pay off in the short-term despite the long-term financial implications.
Indeed, the veteran would fire the Italian giants to back-to-back Scudetti, scoring 101 times in 134 appearances for the Bianconeri – including a 31-goal haul in Serie A in 2019-20. However, Juve failed to claim that elusive Champions League crown.
Result? Hit.
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Getty Images9Declan Rice (Arsenal – £100m)
A transfer that always felt like a banker after Declan Rice established himself as one of the finest No.6s in the Premier League at West Ham, it was Arsenal who won the race to sign him in 2023.
Although his attacking threat has arguably diminished, Rice has adapted seamlessly to the step up and is a key player at the base of the Gunners’ midfield as they push to end their agonising wait for a Premier League title.
Result? Hit.
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Getty Images8Moises Caicedo (Chelsea – £100m)
Moises Caicedo looked for all the world like he was set to become the latest costly flop on this list at the midway point of last season, off the back of a very difficult start to life at Chelsea following his huge-money move from Brighton.
However, he has rediscovered himself in 2024 and has hit his best form this season under Enzo Maresca, reminding everyone of his talents as a ball-playing, midfield destroyer and arguably emerging as the Blues’ most important player.
Result? Hit.
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Getty Images7Jack Grealish (Man City – £100m)
Man City finally signed long-term target Jack Grealish in 2021 for a then-British record fee. Three years on, the jury is arguably still out on whether the England international was worth the money.
Previously a tricky flair player, Grealish has had to adapt to Guardiola’s tactics, rotation policy and becoming more responsible defensively, making him more of a functioning cog than the star man he was at Aston Villa. However, he has already won three Premier League titles and the Champions League in his time with City.
Result? Hit (just about).
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Getty Images6Enzo Fernandez (Chelsea – £107m)
The most costly of Chelsea’s raft of new signings in January 2023, Enzo Fernandez was supposed to be the marquee signing of the Todd Boehly-Clearlake Capital ownership following his impressive showings at the 2022 World Cup.
However, the Argentine has been unable to replicate that level consistently, leading to questions over whether he is suited to the Premier League. A hernia contributed to a dip in form in 2023-24, but he has struggled to kick on this season so far.
Result? Miss.
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Getty Images5Antoine Griezmann (Barcelona – £107m)
Barcelona stumped up Antoine Griezmann’s huge release clause to sign him in 2019 as one of the finest players on the planet, but he lasted just two seasons as both inconsistent form and the Blaugrana’s dire financial situation saw him return to Atletico Madrid.
The attacker’s second season at Camp Nou wasn’t bad as he provided 33 goal contributions in all competitions, although that included just 13 league goals. He is generally considered to have been a mismatch tactically and has returned to his best back at Atleti.
Result? Miss.
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Getty Images4Philippe Coutinho (Barcelona – £108m)
Another Barcelona misstep at the very expensive end of this list, their move for Philippe Coutinho might just go down as the worst transfer of all time. The attacking midfielder was carrying an injury when he signed in January 2018 and inevitably found it hard to find a place in a Lionel Messi-dominated team.
Eventually, form and some bad results saw him become public enemy No.1, and after an underwhelming loan to Bayern Munich and subsequent knee injury, his time at Camp Nou drew to a pretty sorry end.
Result? Miss.
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Getty Images3Joao Felix (Atletico Madrid – £113m)
An exuberant attacking player who thrives when he is given freedom, Diego Simeone’s Atletico Madrid and Joao Felix always seemed like something of a mismatch – and that would prove to be the case.
Felix struggled for consistency within Simeone’s defensive tactical system and had a very-public falling out with the Argentine. He was eventually loaned to Chelsea and subsequently Barcelona, before a permanent switch to Stamford Bridge in the summer.
Result? Miss.
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Getty Images2Kylian Mbappe (PSG – £166m)
He may have been eye-wateringly expensive and his acrimonious exit to Real Madrid certainly left a sour taste, but there is no doubt that Kylian Mbappe’s transfer from Monaco to PSG in 2017 was a roaring success as the explosive French forward emerged as one of the finest payers on the planet.
It was a risk to spend so much on an 18-year-old, but it paid off handsomely as the attacker became the club’s all-time top goal-scorer with 256 in 308 appearances (56 ahead of second place), winning Ligue 1 six times in seven years as well as countless cup competitions. However, a Champions League crown always remained elusive.
Result? Hit.
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Getty Images1Neymar (PSG – £198m)
A transfer fee that is yet to be matched seven years on, and may well never be. PSG stunned the football world when they triggered Neymar’s €200 million (£198m/$263m) release clause in 2017 to prise him away from Barcelona, with the attacker motivated by the chance to move out of Messi’s shadow and be the main man in the French capital.
The question of whether or not the deal was a hit is a complicated one: although he would delight over the course of seven years with moments of individual brilliance, extraordinary flair and sublime goals, his time in Paris was ultimately marred by injuries, falling short of the overarching target of winning the Champions League and the breakdown in his relationship with the club.
For such an unfathomable, extraordinary, astronomical sum of money, the club probably expected the Brazilian to help deliver more than just domestic dominance, which was par for the course.
Result? Miss.
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