La Liga Transfers 2025-2026 — All Signings & Departures

The 2025-2026 La Liga transfer window highlights an increasing market polarization in Spanish football. The three biggest clubs — Real Madrid, FC Barcelona and Atletico Madrid — account for over 70% of total spending across the league. Atletico Madrid emerged as the heaviest spender at 183.5 million euros, driven primarily by the acquisitions of Julian Alvarez (75M) and Conor Gallagher (42M). Diego Simeone's aggressive recruitment strategy aims to close the gap with the two historical giants.

Real Madrid adopted a fundamentally different approach by targeting world-class free agents. The arrival of Kylian Mbappe from PSG without a transfer fee represents one of the most remarkable deals in modern football history. Combined with the signing of Alphonso Davies (also free from Bayern Munich), the club strengthened its squad with two players whose combined market value exceeds 200 million euros — without paying a single euro in transfer fees. Only Endrick (35M from Palmeiras) required a transfer payment.

FC Barcelona, despite ongoing financial constraints linked to La Liga's financial fair play regulations, managed to complete two major signings: Nico Williams (58M from Athletic Bilbao) and Dani Olmo (55M from RB Leipzig). These targeted investments strengthen an attacking unit already powered by Lamine Yamal and Raphinha. The addition of Szczesny as an experienced goalkeeper provides depth following ter Stegen's long-term injury.

For mid-table and lower-ranked clubs, the strategy relies heavily on loans and free transfers. Girona, the previous season's revelation, lost their three crown jewels — Artem Dovbyk (38.5M to Roma), Savinho (25M to Manchester City) and Aleix Garcia (18M to Bayer Leverkusen) — collecting 81.5M but significantly weakening their squad. Clubs fighting relegation such as Valladolid, Leganes and Las Palmas operate with transfer budgets below 10 million euros, relying on loan deals from major European clubs to fill their squads.