The German Transfer Market 2023


The summer of 2023 once again captivated the soccer world, and the transfer market was the center of attention. Millions of pounds were spent and promising talents were discovered. It’s that special time when clubs set themselves for the upcoming season, coaches rethink their tactics and fans wait in suspense to see which stars will wear their club colours. In this blog post, we take a closer look at the top transfers and highlight the financial aspects that have significantly influenced the transfer market in the German Bundesliga in the summer of 2023.

How has the German market been?

The German soccer market was highly active during the 2023 summer transfers in the Bundesliga. This transfer period was characterized by significant financial investments, some surprises and an increased focus on foreign talent.

– Heavy investment and record transfers

Bundesliga clubs mobilized significant financial resources to strengthen their squads. A standout feature of the window was the record number of high-value transfers including Harry Kane’s move to FC Bayern Munich for a transfer fee of €100 million, setting a new benchmark for expensive signings in the league. With Min-jae Kim as the second most expensive transfer of €50 million, FC Bayern Munich tops the list in expenditure. But other clubs have also been willing to spend money and bring in new and exciting signings in the transfer market. RB Leipzig, for example, purchased two new strikers; the star addition of Lois Openda cost the club € 38 million and Benjamin Sesko signed for a transfer fee of € 24 million. In the rest of the Bundesliga, Borussia Dortmund had a notable window with the transfer of Felix Nmecha, paying VFL Wolfsburg a transfer fee of € 30 million. This underlines the determination of the Bundesliga to assemble a squad capable of competing at the highest level.

– Big-name surprises

A real highlight of this transfer period was undoubtedly the arrivals of Leonardo Bonucci and Robin Gosens at Union Berlin. The news of these transfers sent fans into a frenzy and made it clear that even up-and-coming clubs have the chance to make headline transfers. The signing of big-name and experienced players undoubtedly adds to the league’s global appeal and inspired euphoric feelings among loyal supporters.

– Focus on talent

One fascinating development observed in the Bundesliga transfer market in the summer of 2023 was the increased attention paid to young talent. The most exciting examples include the loan of Xavi Simons to RB Leipzig and Victor Boniface to Bayer 04 Leverkusen. The average age of all transfers in the Bundesliga was a mild 23.4 years. This shows that clubs are willing to nurture up-and-coming young players and give them the opportunity to play at the highest level. This focus on young talent not only promises exciting soccer in the future, but also shows that the Bundesliga continues to be a place where promising players can develop their potential. Promoting young talent is a step in the right direction to maintain the league’s competitiveness on the international stage. We can look forward to seeing how these young talents will enrich the Bundesliga in the coming years.

What about other transfer rumors ?

The summer of 2023 in the Bundesliga was marked not only by actual transfers, but also by unprecedented transfer rumors. It is always fascinating to see how speculation and rumors excite the minds of fans and keep the transfer rumor mill bubbling.

– High-profile names

One of the standout sagas was undoubtedly the transfer of Harry Kane to the Bundesliga which eventually materialised. The speculation about his future after a mixed season at his old club made many fans sit up and take notice. However, there is a flip side to everything that should not be forgotten. Such as the rumor about Josko Gvardiol to Manchester City, which of course did not go down well with the fans, as it really turned into a gossip match. The back and forth between the clubs was nerve-wracking for everyone. Another interesting rumor was the possible arrival of international stars in the Bundesliga. Players like Paulo Dybala and Lautaro Martínez have been linked to German clubs. Importantly of course, not all of them became reality. The world of soccer transfers is complex and many factors influence the actual negotiations and whether a deal is completed or not. A transfer can vary greatly from contract details to financial aspects.

Overall, the transfer rumors in the summer of 2023 contributed to general excitement and expectations. They showed that the Bundesliga continues to be a magnet for soccer talent and a showcase for top international players. The discussions and speculation surrounding potential transfers have focused the attention of the soccer world on the league.

What does the transfer record tell us?

In the Bundesliga, which is known for its passion and competitiveness, the transfer balance is an important factor that reflects the ambitions and performance of clubs in the transfer market. It offers an insight into the diversity of strategies and approaches adopted by teams in the top league of German soccer. Let’s take a closer look at the numbers and try to draw some conclusions.

– Departures

In the summer of 2023, there were a total of 263 player departures from Bundesliga clubs. These departures resulted in impressive transfer revenues totaling €1 billion. This means that, on average, clubs profited around €58.1 million each from the sale of players. On a per-player basis, the average is €3.9 million per player transferred. This high average illustrates the attractiveness of the Bundesliga to international clubs searching for the next top players and youth talent.

– Additions

On the other side of it, Bundesliga clubs signed a total of 270 new players in the summer of 2023. The transfer expenditures for these acquisitions amounted to $748 million. This means that, on average, clubs invested approximately $41 million per club in new players. The average expenditure per player is $2.7 million.

-Total Balance

The overall balance for the Bundesliga in the summer of 2023 stands at a $298 million profit. This indicates that clubs, overall, have achieved almost $300 million in transfer balance gains. On average, each club has an average balance of $16.5 million. This underscores the Bundesliga clubs‘ ability to financially manage their transfer activities and sell top talents to other clubs around the world to achieve a positive balance despite high investments. Notably, the Bundesliga has generated the highest transfer revenues compared to other top leagues. This balance between income and expenses demonstrates that the Bundesliga is economically healthy and ready to compete at the highest level.


Revenue and Expenditure of Bundesliga Clubs in the Summer of 2023

Let’s now take a look at the specific revenue and expenditure of the clubs in the Bundesliga that have shaped the transfer market this window.


The summer window of 2023 was a highly financially-successful transfer period for Bundesliga clubs, characterized by impressive revenue from player transfers. Notably, RB Leipzig stood out as the leader in revenue for this transfer period. The club achieved an impressive profit of €240.7 million through the sale of players such as Josko Gvardiol, Dominik Szoboszlai, Christopher Nkunku, and many others. However, other top clubs in Germany were also extremely successful in this regard. FC Bayern Munich recorded revenues of €173 million, followed by Eintracht Frankfurt with €142 million and Borussia Dortmund with €112 million. These figures not only highlight the financial strength of Bundesliga clubs but also their ability to identify and successfully move on talented players for large fees. It’s further evidence of the Bundesliga’s attractiveness that so many high-profile players are active in the league and sought after by international clubs.


On the other hand, Bundesliga clubs made ambitious transfers in the summer of 2023. In particular, FC Bayern Munich and RB Leipzig were actively involved in this transfer period. Both clubs recorded expenditures of more than €150 million, sharing the top spot in terms of transfer spending. These investments underscore their ambition to dominate not only in Germany, but also on the international and European stage. However, it’s not just the top clubs that invested in new players. Clubs like Bayer 04 Leverkusen and VfL Wolfsburg also made significant upgrades in the hope of competing at the highest level. These clubs are relying on reinforcements to establish themselves in the Bundesliga and beyond. Even traditional clubs like VfB Stuttgart, 1. FC Union Berlin, and Eintracht Frankfurt have adapted to the changing circumstances and added reinforcements as well. Below, you can take a closer look at both the revenue and expenditure as well as the squad value of the clubs.




Overall, the Bundesliga stands as one of the financially most stable leagues in Europe, but it faces the challenge of managing its revenue and expenditures carefully to ensure long-term success. Significant investments, high-profile transfers, and the nurturing of emerging talents have propelled the Bundesliga into the spotlight of the international football world. The league continues to be one of the most thrilling and competitive in all of Europe, and fans can look forward to an exciting season where new players will showcase their skills and qualities.


by Dr Erkut Sogut, Baris Kaader & Kaan Karazor

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