Saudi Arabia made waves in the football world with an unprecedented $1 billion in transfer spending, attracting major talents to the Saudi Pro League. However, 2024 has seen a significant slowdown in this spending spree, with the country investing just $524 million in new acquisitions, according to Transfermarkt. Despite this, four of the top 10 highest-paid footballers in the world still play in the Saudi Pro League, including Cristiano Ronaldo, who continues to set earning records.
A Shift in Spending: From Billion-Dollar Transfers to More Modest Investments
The sharp decrease in spending by Saudi Pro League clubs can be attributed to a combination of factors. Saudi Arabia, known for its vast oil wealth, is currently focused on large-scale infrastructure projects that have tied up significant resources from its $925 billion sovereign wealth fund. Consequently, the football market has seen a more modest approach to acquisitions in 2024.
Unlike last year’s star-studded transfers, the biggest signings of 2024, such as Moussa Diaby, Ivan Toney, and Marcos Leonardo, have yet to become household names. The shift signals a more measured approach to spending compared to the previous year’s flurry of high-profile transfers.
Saudi Pro League Players Still Dominate Earnings
Even with a quieter transfer window, Saudi clubs continue to pay astronomical wages to their existing superstars. Four players from the Saudi Pro League rank among the top 10 highest-paid footballers globally in 2024. Cristiano Ronaldo leads the list, marking the sixth time in a decade that the Portuguese icon has claimed the top spot.
Ronaldo, who signed with Al Nassr in January 2023, is set to earn an estimated $220 million on the field this season, with an additional $65 million coming from endorsements and other ventures. His total of $285 million is a record in the sport, surpassing his own 2023 earnings of $260 million. The only athlete to earn more in a single year is boxer Floyd Mayweather, according to data tracked by Forbes.
Messi vs. Ronaldo: The Rivalry Continues
Lionel Messi, who currently plays for Inter Miami in Major League Soccer, is Ronaldo’s closest competitor in terms of earnings. Messi is projected to make $135 million in 2024, including $75 million off the field, the highest figure for any footballer in endorsement earnings. However, Messi still trails Ronaldo in total earnings for the second consecutive year.
This ongoing rivalry between Messi and Ronaldo has defined football for over a decade, both on and off the field. While Messi’s move to the U.S. marked a new chapter in his career, Ronaldo’s decision to head to the Middle East opened the door for other top-tier players to follow suit.
Impact of Financial Fair Play on Global Football
The spending restraint in Saudi Arabia has had far-reaching effects across global football, particularly in Europe. UEFA’s Financial Fair Play Regulations, which limit a team’s spending relative to its income, have made it more challenging for clubs to splash out on big transfers. In 2023, Saudi clubs not only paid hefty transfer fees but also relieved European clubs of expensive payrolls. Without Saudi Arabia’s financial backing in 2024, many European clubs have felt the pinch.
For instance, the Premier League’s transfer spending fell to $2.5 billion this summer, a significant drop from last year’s $3 billion record. Germany’s Bundesliga and France’s Ligue 1 also experienced notable declines in transfer activity.
The World’s Highest-Paid Footballers: A Look at the Top 10
While blockbuster moves were few and far between this off-season, the top footballers continue to rake in significant sums. Combined, the world’s 10 highest-paid footballers are projected to earn a staggering $983 million in 2024, representing a modest 2% increase over the previous year.
Here’s a breakdown of the top earners:
- Cristiano Ronaldo – $285 million (Al Nassr, Portugal)
On-field: $220 million | Off-field: $65 million - Lionel Messi – $135 million (Inter Miami, Argentina)
On-field: $60 million | Off-field: $75 million - Neymar – $110 million (Al Hilal, Brazil)
On-field: $80 million | Off-field: $30 million - Karim Benzema – $104 million (Al Ittihad, France)
On-field: $100 million | Off-field: $4 million - Kylian Mbappé – $90 million (Real Madrid, France)
On-field: $70 million | Off-field: $20 million - Erling Haaland – $60 million (Manchester City, Norway)
On-field: $46 million | Off-field: $14 million - Vinicius Jr. – $55 million (Real Madrid, Brazil)
On-field: $40 million | Off-field: $15 million - Mohamed Salah – $53 million (Liverpool, Egypt)
On-field: $35 million | Off-field: $18 million - Sadio Mané – $52 million (Al Nassr, Senegal)
On-field: $48 million | Off-field: $4 million - Kevin De Bruyne – $39 million (Manchester City, Belgium)
On-field: $35 million | Off-field: $4 million
Future Prospects: New Contracts on the Horizon
The earnings landscape may soon change, with some top players nearing contract renewals. Erling Haaland, currently with Manchester City, is in the third year of his five-year deal. Having scored an astonishing 101 goals in 108 matches since joining the club in 2022, Haaland has attracted interest from Europe’s elite clubs. A contract extension seems likely, and with it, a potential surge in earnings.
Meanwhile, Kevin De Bruyne’s future is less certain. His current contract with Manchester City expires at the end of this season, leaving the door open for potential moves or negotiations.
Conclusion
While Saudi Arabia’s football spending spree may have cooled in 2024, the Kingdom remains a financial powerhouse in the sport. The top earners in football continue to enjoy massive salaries, with Cristiano Ronaldo leading the pack. As global football grapples with the ripple effects of Saudi Arabia’s more measured approach to transfers, the financial landscape of the sport remains in flux, with potential new deals and record earnings still on the horizon.