The scale of modern football finance continues to stretch belief. Premier League clubs had already shattered records last summer, spending an astonishing £3 billion ($4 billion) and eclipsing the previous high of £2.36 billion set just two years earlier.

Against that backdrop, January’s business was never going to be quiet. Instead, it offered a sharp lesson in contrasts: necessity versus excess, planning versus panic.

Among the headline moves, Karim Benzema’s switch from Al Ittihad to fellow PIF-owned side Al Hilal stood out. Unlike many Saudi Pro League recruits who eventually drift back to Europe, Benzema remains in the Kingdom for now, strengthening Al Hilal’s title charge against Cristiano Ronaldo’s Al Nassr.

That context makes Ronaldo’s apparent frustration and reported refusal to play feel less coincidental. In purely footballing terms, Benzema looks an ideal fit for Simone Inzaghi’s system and should continue to deliver goals at an elite level.

🚨💣 BREAKING: Karim Benzema signs in as new Al Hilal player from Al Ittihad, HERE WE GO! 🔵🇸🇦

Former Ballon d’Or leaves Al Ittihad to join Inzaghi’s project at Al Hilal with immediate effect.

Benzema agreed on all terms tonight. 🇫🇷 pic.twitter.com/eJdcEteWHk

— Fabrizio Romano (@FabrizioRomano) February 2, 2026

In England, Crystal Palace’s decision to push through a £43 million move for Strand Larsen raised eyebrows. The deal appeared dependent on Jean-Philippe Mateta’s departure, a move that collapsed after a failed medical, but Palace pressed on regardless.

It is a bold, arguably risky play. Larsen’s form this season has been poor, with just one league goal and a loss of his starting place. While last season’s 14-goal return offers some encouragement, confidence is fragile, and big fees rarely mix well with players searching for belief.

 

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Elsewhere, patience finally paid off for Ademola Lookman. After a turbulent standoff with Atalanta last summer, the Nigerian forward secured his long-awaited move to Atlético Madrid. For Atalanta, €35 million plus bonuses is solid business given his contract situation; for Atleti, it feels like planning, potentially easing the eventual loss of Antoine Griezmann with another unpredictable attacking weapon.

 

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Some departures were more bittersweet. Oleksandr Zinchenko’s exit from Arsenal closes the chapter on a transformative signing. Injuries have dulled his influence since 2024, making the timing understandable, even if a €1.5 million fee feels underwhelming. Ajax, however, may feel they’ve struck gold, acquiring a technically gifted player whose game should suit the Eredivisie’s lower physical demands.

Ready to play for Ajax.

Welcome, Oleksandr Zinchenko! ❌❌❌ pic.twitter.com/yyk9IWNicY

— AFC Ajax (@AFCAjax) February 1, 2026

Short-term pragmatism defined Nottingham Forest’s move for Stefan Ortega following John Victor’s season-ending injury. Ortega’s calm competence at Manchester City made him a reliable understudy to Ederson, and although City failed to maximize his value, Forest gained crucial stability during a difficult spell.

Welcome to Nottingham Forest, Stefan Ortega Moreno. ✍️

— Nottingham Forest (@NFFC) February 1, 2026

In South America, Flamengo’s capture of Lucas Paquetá marked a statement of intent and a reminder of Brazilian football’s growing financial muscle. For West Ham, the deal represents sensible business—recouping value on a player whose career has stalled after off-field turbulence. For Paquetá, it offers a chance at renewal.

Primero: sos un maleducado. Segundo: Lucas Paquetá es jugador de Flamengo. Abrazo grande. pic.twitter.com/0VjGTdqrOO

— Flamengo (@Flamengo_es) January 30, 2026

Manchester City’s sale of Oscar Bobb felt like a reluctant concession. Injuries and new arrivals blocked his pathway, but £27 million plus future clauses is strong value for limited first-team exposure. Fulham, by contrast, are gambling on potential, injecting youth into one of the Premier League’s oldest squads.

Welcome to London’s Original, Oscar Bobb! 🇳🇴

— Fulham Football Club (@FulhamFC) January 30, 2026

January also exposed how pressure shapes decision-making. West Ham’s reunion of Adama Traoré with Nuno Espírito Santo smacks of familiarity over imagination, while Aston Villa’s swift move to bring Douglas Luiz back on loan speaks to urgency amid an injury crisis. Luiz’s return feels both practical and symbolic—another homecoming driven as much by financial regulation as football logic.

West Ham United is pleased to confirm the signing of Spain international winger Adama Traoré. 🤝

— West Ham United (@WestHam) January 28, 2026

In Barcelona, the window oscillated between opportunism and compromise. João Cancelo’s loan return adds much-needed flexibility, even if it underlines Saudi clubs’ financial indifference. The temporary departure of Marc-André ter Stegen to Girona, meanwhile, benefits everyone except Barça’s wage bill—but minutes and market value now matter more.

🚨💙❤️ OFFICIAL: João Cancelo, back to Barcelona as exclusive story is now confirmed.

€4m salary coverage to Al Hilal, loan until June. pic.twitter.com/YboEDl4MIP

— Fabrizio Romano (@FabrizioRomano) January 13, 2026

Manchester City’s late swoop for Marc Guéhi was ruthlessly efficient. £20 million plus bonuses is startlingly low for a defender of his calibre, though wages inflate the true cost. For Crystal Palace, losing their captain mid-season is a heavy blow, particularly with European ambitions still alive.

 

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Elsewhere, familiar patterns emerged. Donyell Malen’s swift Premier League exit reflects misalignment more than failure. Conor Gallagher’s return to England highlights Atlético Madrid’s depth and Tottenham’s continued preference for energy over elegance. Antoine Semenyo’s big-money move reinforces the premium now placed on proven Premier League attackers.

 

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And fittingly, January opened with a deal shaped by development rather than dominance. Endrick’s loan to Lyon offers the teenage prodigy what Real Madrid could not: minutes. For Lyon, starved of goals, it is a calculated risk worth taking.

In the end, January 2026 was less about spectacle and more about consequence. Some clubs acted with clarity, others with desperation. Whether these decisions prove inspired or regrettable will be revealed not in headlines but in the months ahead—where seasons, and sometimes careers, are truly decided.

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The 29-year-old winger penned a three-year contract with the Riyadh-based side, keeping him at the club until 2028.

Al Nassr confirmed the signing in an announcement on X, while Bayern also released a statement acknowledging the departure of the player who joined them on loan from Juventus in 2015 before making the deal permanent in 2017.

During his time in Munich, Coman collected an impressive haul of silverware, including nine Bundesliga titles, the UEFA Champions League, the FIFA Club World Cup, and multiple domestic cups.

Fast track to Greatness.
Welcome, Coman 🏁⚡
pic.twitter.com/eIWb1ro6Xi

— AlNassr FC (@AlNassrFC_EN) August 15, 2025

That name. That number. That presence.#ComanIsNassr 💥 pic.twitter.com/vweX1ERBCP

— AlNassr FC (@AlNassrFC_EN) August 15, 2025

His most iconic moment came in August 2020 when he netted the decisive goal in Bayern’s 1-0 win over Paris Saint-Germain in the Champions League final in Lisbon.

Reflecting on his departure, Coman expressed gratitude in an emotional Instagram post:
“It’s hard to believe that nearly 10 years have passed since I first made Munich my home as a 19-year-old. I’ve been blessed to share unforgettable memories and success with this incredible club — nine Bundesliga titles, six Super Cups, three German Cups, a Club World Cup, and my proudest moment; scoring the winning goal in the 2020 Champions League final. This club will forever be a part of me, and I wish Bayern nothing but continued success in the seasons ahead. From the bottom of my heart, thank you.”

 

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Coman leaves Bayern having made 339 appearances and scored 72 goals for the Bavarians. His exit follows Bayern’s recent acquisition of Colombian winger Luis Díaz from Liverpool, a move that increased competition for places in the squad.

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Saudi Pro League giants Al-Hilal have officially completed the signing of French international Theo Hernandez from AC Milan, adding another European superstar to their star-studded roster.

The 27-year-old left-back has signed a three-year contract that will keep him at the club until the end of the 2027–28 season. The transfer fee is reported to be £22.8 million (€30.3m/\$30.3m).

Hernandez, a product of the Atletico Madrid youth academy, made a high-profile switch to Real Madrid in 2017 before making his career-defining move to AC Milan in 2019.

At San Siro, he flourished into one of the most dynamic full-backs in Europe.

He’s a Blue! ✍️pic.twitter.com/7oxfDEZkrF

— AlHilal Saudi Club (@Alhilal_EN) July 10, 2025

Over five stellar seasons with the Rossoneri, Hernandez made 262 appearances, scoring 34 goals and providing 45 assists—an exceptional return for a defender.

He was instrumental in AC Milan’s 2021–22 Serie A title triumph and their Italian Super Cup win in January 2025.

According to multiple sources, the Frenchman will earn a staggering €20 million (£17m/\$23m) annually in Saudi Arabia.

His move bolsters an already talent-packed Al-Hilal squad that includes Kalidou Koulibaly, Ruben Neves, and Aleksandar Mitrovic all players with top-flight European experience.

Hernandez’s arrival significantly strengthens Al-Hilal’s defensive line, bringing pace, creativity, and attacking depth from the left flank.

The Frenchman will work under Simone Inzaghi, who took over as head coach earlier this summer after departing Inter Milan.

 

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Hernandez is expected to make his debut in the Saudi Super Cup semifinal against Al-Qadsiyah on August 20.

With this marquee addition, Al-Hilal continue to assert their dominance in the Saudi transfer market, solidifying their ambitions both domestically and on the Asian football stage.

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Bayer Leverkusen’s sporting director, Simon Rolfes, has addressed speculation surrounding Victor Boniface’s potential move to Saudi Pro League side Al Nassr during the January 2025 transfer window.

Following weeks of rumors linking the Nigerian forward to a lucrative switch, Rolfes confirmed that there had been interest from clubs but stated that Boniface remains part of Leverkusen’s plans. Speaking in a recent interview, he revealed that the striker trained with the team and expressed confidence that he would stay at the club.

“There have been talks, but we are happy that he will be training with us today. I assume that he will stay. He feels comfortable here, his attitude towards the club is unchanged,” Rolfes stated.

Reports indicate that Al Nassr ultimately pursued Aston Villa forward Jhon Durán instead, securing a deal that was reportedly more expensive than their proposed offer for Boniface.

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Saudi Pro League club Al Ettifaq have officially confirmed the departure of their manager, Steven Gerrard, by mutual consent following a challenging campaign.

Gerrard, who took charge of the club in July 2023, initially signed a long-term contract extension in January 2024. However, despite leading Al-Ettifaq to a sixth-place finish last season, the team’s poor run of form this term saw them drop to 12th in the league standings, ultimately leading to his exit.

Reports of Gerrard’s growing frustrations had surfaced in recent weeks, and the club has now reached an agreement to terminate his contract.

Expressing his appreciation for his time at the club, the former Liverpool captain said: “I want to express my gratitude to the club, the players, the fans and everyone involved for the opportunity and the support during my time here, especially the president, Mr. Samer, CEO Mr. Hamad and the head of the football committee Mr. Hatim.

“I express my gratitude for Mr. Samer and Mr. Hatim from the first day I was warmly welcomed and I have enjoyed to work in a new country with a different culture. So overall I have learnt a lot and it’s been a positive experience personally and for my family as well.

“But football is unpredictable, and sometimes things don’t go the way we want. However, I leave with the great respect for the club and the country, I have no doubt that the work being done will bring success in the future, and I wish the team the very best for the rest of the season.”

During his tenure, Gerrard oversaw several high-profile signings, including former Liverpool teammate Jordan Henderson, whose stint in Saudi Arabia was short-lived as he left for Ajax after just six months.

Other notable arrivals such as Demarai Gray, Georginio Wijnaldum, Jack Hendry, and Moussa Dembélé remain with the club.

With Gerrard’s departure, Al Ettifaq will now look to appoint a new manager to stabilize their season and push for better results in the Saudi Pro League.

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Jhon Duran is on the verge of joining Saudi Pro League side Al Nassr, with the Colombian striker set to undergo a medical ahead of a blockbuster transfer.

Duran started the 2024-25 season in explosive form but has struggled for consistent game time due to the impressive performances of Aston Villa’s star striker, Ollie Watkins. Despite this, Al-Nassr is prepared to splash €77 million (£64.5m/$80m) plus add-ons for the 21-year-old, according to The Athletic. His medical is scheduled for Thursday in London before finalizing the move.

Many fans will be disappointed to see Duran leave top-tier European football, given his talent and Premier League goal-scoring record. However, the young forward appears keen on accepting a lucrative five-and-a-half-year deal to join football stars like Cristiano Ronaldo, Sadio Mané, and Aymeric Laporte at Al-Nassr.

Despite making 16 of his 20 Premier League appearances this season as a substitute, Duran has still managed to net seven league goals. Across all competitions, he has scored 12 goals in 55 league appearances for Villa, along with three goals in seven Champions League games, helping the club secure a place in the knockout stages.

Duran’s move could have wider implications for the transfer market, particularly for Arsenal. The Gunners had been monitoring Villa’s first-choice striker, Ollie Watkins, but with Unai Emery now losing his backup option, the chances of Watkins leaving this window have significantly diminished.

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Ajax has officially announced the signing of Jordan Henderson on a contract spanning two and a half years. This move comes after the termination of his contract with Al-Ettifaq, marking the conclusion of a challenging stint in Saudi Arabia. The 33-year-old swiftly departed from the Saudi Pro League team, unable to find his footing in the country since departing from Liverpool the previous summer.

Following the confirmation of his signing, the English international promptly expressed gratitude to his former teammates and fans via social media. He also took the opportunity to elucidate the reasons behind his departure from the Saudi club.

‘I’m sad to say that I will be leaving Al-Ettifaq with immediate effect.’ He wrote on X, formerly Twitter. ‘It wasn’t an easy decision but one that I feel is best for me and my family.

‘I want to take this opportunity to thank the club & the fans for all the support during my time. I really felt the love from Day One. I’ll keep watching & hoping for your success. Good luck for the future.’

I’m sad to say that I will be leaving Al Ettifaq with immediate effect. It wasn’t an easy decision but one that I feel is best for me and my family.
I want to take this opportunity to thank the club & the fans for all the support during my time. I really felt the love from Day… pic.twitter.com/Jouk4ad6Gf

— Jordan Henderson (@JHenderson) January 18, 2024

In a video announcement, Ajax celebrated the significant signing, praising Jordan Henderson’s leadership skills and his familiarity with playing in ‘red and white,’ harkening back to his formative years with his childhood club, Sunderland.

Jordan, welcome to Ajax ❌❌❌ pic.twitter.com/nAZhQACt5E

— AFC Ajax (@AFCAjax) January 18, 2024

Ajax interim boss John van’t Schip told the club’s website: ‘We wanted an experienced midfielder with leadership qualities. Partially due to injuries in the team, we were looking for someone who could step in immediately. Jordan Henderson is that type of player.

‘His arrival means a huge enhancement for our squad. Both on and off the pitch, a football player of this calibre is important for our many young players.

‘He’s an English international player and has won the Champions League and many other prizes with Liverpool. I am happy he’s here.’

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According to reports, Jordan Henderson has agreed to leave the Saudi Pro League team Al Ettifaq and is on the verge of permanently joining Ajax.

The three-year deal that the England international signed last summer is currently being finalized between him and his present team, guaranteeing that there won’t be a transfer fee associated with the midfielder’s departure.

Henderson has agreed to a potential deal with Ajax and is currently returning to the UK from Al Ettifaq’s winter training camp in Abu Dhabi.

🚨⚪️🔴 Jordan Henderson to Ajax, here we go! Agreement completed right now as former Liverpool captain will travel to Amsterdam on Thursday.

Medical tests to follow tomorrow.

Top signing revealed last week now done.

Exclusive story, confirmed.@TurkishAirlines ✈️ pic.twitter.com/WGCiFwFK0T

— Fabrizio Romano (@FabrizioRomano) January 17, 2024

Before the 33-year-old former Liverpool midfielder’s temporary comeback to European football is finalized, paperwork and other formalities around that prospective move must be worked out.

Henderson’s exit from Saudi Arabia comes just six months after his move from Anfield.

Henderson left Liverpool after a 12-year tenure in July to travel to Saudi Arabia, and in September, he justified his decision following significant criticism, telling The Athletic in an exclusive interview that he wanted to “achieve something special and build a club and build the league.”

He played 17 times in the SPL, making four assists for the side led by former Liverpool teammate Steven Gerrard, but left midway through his first season with the club.

Henderson has also failed to impress at Al-Ettifaq, which is coached by another former Liverpool captain, Steven Gerrard, and now ranks eighth in the Saudi Pro League. For league officials, his decision to force a move back to Europe represents a big blow to their ambitions of making Saudi Arabia a leading player in world football.

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Jose Mourinho, the legendary Portuguese manager currently at the helm of Italian giants AS Roma, has expressed his interest in coaching in the Saudi Pro League, aligning with the recent trend of prominent figures moving to the league.

Amidst speculation about his future as he enters the final year of his three-year deal with Roma, Mourinho has considered the possibility of joining the wave of high-profile players and coaches making the move to Saudi Arabia.

In an interview with Italian outlet Rai1, Mourinho stated, “I think one day I will join the Saudi Pro League. I think I will go and coach there, yes.”

However, he was quick to clarify, emphasizing that this move won’t happen in the immediate future, saying, “But that day won’t be tomorrow or after tomorrow…”

He made it clear that he still harbors ambitions of continuing his coaching career in Europe for the time being.

While affirming his commitment to Roma, Mourinho stated, “I am committed to my work with Roma and I want to give everything to the club until the last day.” Notably, Mourinho guided Roma to their first European title in 2022 by securing victory in the UEFA Europa League.

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After Al-Nassr defeated Al-Wehda 3-1 in the Saudi Pro League, Cristiano Ronaldo sent a message on his social media profile.

Alex Telles, their summer recruit, took the lead in the eleventh minute. Abdulelah Al-Amri increased the lead in the 39th minute. Ronaldo then extended the lead to 3-0 in the 49th minute of play. Anselmo delivered Al-Wehda a consoling goal in the 81st minute.

Following the match, Ronaldo posted the following on Instagram:

 

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A post shared by Cristiano Ronaldo (@cristiano)

On Saturday, Al-Nassr extended their winning run to seven games in all competitions at the King Abdul Aziz Stadium. The Portuguese forward has been quite productive this season, making 17 appearances across all competitions and throwing out nine assists in addition to his 16 goals.

The Saudi Professional League has now adjourned for the international break, during which Ronaldo will represent Portugal against Liechtenstein and Iceland.

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After joining Al Ittihad during the summer, Karim Benzema stated that he “always wanted” to live in Saudi Arabia.

The famous forward was widely anticipated to sign a one-year agreement with Real Madrid after the 2022–23 season, but he suddenly decided to join Saudi Pro League team Al Ittihad instead, agreeing to a deal for an astounding £172 million annually.

Benzema has made 11 appearances for his new teams so far, scoring six goals in those contests to help the defending champions climb the Saudi Pro League standings.

Speaking to the league’s official media outlets, Benzema spent time explaining why he chose to go to the Middle East, citing his faith as a major motivator.

“Well with everything I’ve made and gained with Real Madrid, I think it was for me the good moment to try a new challenge,” he said. “For a really long time, even before football, I always wanted to come here. Also, it’s a Muslim country. Straight away I felt this love for me. On and off the pitch I feel good.

“This country welcomed me with open arms. I feel the love of the people here so obviously that makes me happy.”

“I really want to help Saudi football grow. [Al Ittihad] was a project that was just starting to burst from everywhere so from my side I wanted to be part of the story. That’s the reason why I came here.”

Benzema also discussed how surprised he’s been by the standard of play in the Saudi Pro League. A huge number of top level players such as Cristiano Ronaldo, Sadio Mane and Riyad Mahrez have all made the move to the league over the last 12 months, greatly improving the product.

“I’m really surprised and pleased about the level of the game here,” he went on to explain. “Really surprised because in Europe we don’t watch much football from here. Nowadays we are watching more and more because of the big names they signed.”

"I really wanted to be part of the story and to help Saudi football grow" 🎙️@Benzema discusses his move and start to life in the RSL 🇫🇷#yallaRSL pic.twitter.com/67VysqGDMM

— Roshn Saudi League (@SPL_EN) October 11, 2023

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Cristiano Ronaldo has once more defended the Saudi Pro League, stating that it is more competitive than the top division in his country.

Ronaldo left Manchester United in January and signed a lucrative contract with Al-Nassr. Many prominent figures have accompanied the Portuguese hero to the Middle East, and many have come under fire for choosing to compete at a high level in Europe rather than following the money to Saudi Arabia despite the nation’s track record on human rights. However, Ronaldo maintains that the Saudi league is even superior to the Primeira Liga in his native Portugal and contends that all leagues and nations are subject to criticism.

“It’s normal to criticise, what league is not criticised? Where there aren’t problems and controversy? There are everywhere. Spain, Portugal,” he said at a press conference. “I already knew, I keep saying: everyone thought I was crazy, crazy isn’t so crazy… It’s already normal to play in the Saudi Arabian league.

“As an Al-Nassr player, I knew this was going to happen, it’s a privilege to change a country’s culture and football, to have great stars, it makes me proud. I was the pioneer and I feel proud of it. What I want most is to continue to evolve always, so that I can be at the top.”

He added: “I believe that the Arab League is better than the Portuguese one. It’s not just the controversy, there’s not so much fuss, the quality of the names is much better. I hope it can get better, I know it will be difficult. Possibly impossible. It turns out to be a circus what has been happening lately.”

The Saudi top division has been successful in recruiting players like Karim Benzema, Neymar, N’Golo Kante, Aymeric Laporte, Ruben Neves, Jordan Henderson, and Roberto Firmino, among many others, since Ronaldo joined Al-Nassr.

Lionel Messi was one well-known figure who chose to join Inter Miami in the Major League Soccer (MLS) over Saudi Arabia’s efforts.

Ronaldo, though, made a sneaky jab at the level of football played in the USA in July when he said, “The Saudi championship is much better than the USA.”

When Portugal plays Slovakia on September 8, which will be followed by a match against Luxembourg three days later, the seasoned forward might make his 201st appearance for Portugal.

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