Real Madrid's 25 most expensive transfers of all time

FT Desk

• Updated: 23 Oct 2025 09:18 CDT
• 12 min read

Analysis

Real Madrid's status as a footballing superpower is indisputable, something they underscored in the summer of 2024 by winning a record-extending 15th Champions League.

As one of the biggest clubs in world football, Los Blancos have completed some extraordinary transfers over the years and they have broken several major records along the way.

Below, we run through the 25 most expensive Real Madrid signings in history.

25. Thibaut Courtois - €35m (from Chelsea, 2018)

One of Madrid's best signings this century, Courtois has developed into arguably the best goalkeeper in the world in his time at Santiago Bernabeu.

Once a favourite of the rivals across the city, Atletico, the towering Belgian is now Real Madrid through and through.

24. Luka Modric - €35m (from Tottenham, 2012)

When Modric was first signed by Madrid in 2012, there were some Madridistas thoroughly underwhelmed by the deal, to the point where head coach Jose Mourinho had to continually and publicly defend the Croatian.

How stupid must those doubters feel now?

Modric eventually became untouchable and his partnership with Toni Kroos and Casemiro is now the stuff of legend.

From being labelled as a waste of money to winning the Ballon d'Or while at the club. Sensational.

23. Nicolas Anelka - €35m (from Arsenal, 1999)

Anelka was Arsenal's top scorer in the 1998-99 season but his relationship with the club's fans turned sour as his demeanour eventually led to the infamous 'Le Sulk' nickname.

Although he started the Champions League final in 2000, which Real Madrid won, he only scored two league goals in the campaign and was eventually sold to his boyhood club, PSG.

22. Arjen Robben - €35m (from Chelsea, 2007)

After a trophy-filled spell at Chelsea, Madrid signed Robben in the summer of 2007.

He was unfairly subbed as underwhelming by some with Madrid, but the fact is he was a key player and was ultimately forced out of the club.

When Florentino Perez retook the reigns as president as 2009 he went on a remarkable spending spree which included the acquisitions of attackers Cristiano Ronaldo and Kaka. With his spot threatened, Robben signed for Bayern Munich.

21. David Beckham - €37.5m (from Man Utd, 2003)

In 2003, Beckham became the latest Galactico at Madrid, joining the likes of Zinedine Zidane, Luis Figo and Ronaldo.

Everyone knows that Golden Balls was signed due to his marketability as he barely fit inside the structure of the team, often being fielded in central midfield, but that does do a disservice to his ability as he became a fan favourite and helped Madrid to a La Liga title.

20. Mateo Kovacic - €38m (from Inter, 2015)

Inter were forced to sell Kovacic due to Financial Fair Play regulations so Madrid took advantage to sign the Croatian midfielder.

He was reliable enough under Rafa Benitez, often being deployed in various different positions, but when Zidane took over, he favoured Modric, Kroos and Casemiro in midfield.

Kovacic was eventually sold to Chelsea.

19. Vinicius Junior - €45m (from Flamengo, 2018)

There was a time at Real Madrid when Vinicius Junior was considered to be a joke. At half-time during at Champions League match against Gladbach, team-mate Karim Benzema was heard saying to Ferland Mendy, with regards to Vini: “Brother don’t play to him. On my mother’s life. He is playing against us."

Fair play to the Brazilian, as he fought back from that adversity to become Real Madrid's most important attackers for a few seasons.

Things aren't rosy at the moment, though, as the arrival of Kylian Mbappe has threatened that status, while a mega-money move to Saudi Arabia potentially looms.

18. Rodrygo - €45m (from Santos, 2019)

Unfortunately for Rodrygo, despite his exploits, it always seems like he is playing second-fiddle to someone.

The winger would eventually become a key player for Real Madrid but he is usually in the shadow of players like Vini Jr., Mbappe or Jude Bellingham.

With youngsters Arda Guler and Franco Mastantuono taking playing time now also, it is becoming more and more likely he'll leave.

17. Ronaldo - €45m (from Inter, 2002)

Ronaldo won the 2002 World Player of the Year award while at Real Madrid, but it isn't outrageous to say that R9 was perhaps past his best when he signed for the club.

The mesmeric dribbling and ludicrous speed that he displayed previously at Barca and Inter had been toned down a bit by a succession of serious knee injuries.

That said, he still scored 83 goals in 127 league appearances with Los Blancos and he helped them to a La Liga title in 2003.

16. Franco Mastantuono - €45m (from River, 2025)

With the attacking talent that Madrid has, it is perhaps a surprise that Argentine wonderkid Mastantuono has received plenty of playing time in his few months at Madrid. It is still early days, but there are big, big hopes for him.

15. Endrick - €47.5m (from Palmeiras, 2024)

Endrick began to receive some playing time under Carlo Ancelotti in the second half of the 2024/25 season but he has been awarded almost zero opportunities to impress by current boss Xabi Alonso.

He has the talent, but it needs nurturing.

14. Ferland Mendy - €48m (from Lyon, 2019)

A big-money signing from Lyon, Mendy was signed to provide competition with and then act as a successor to Marcelo.

However, the club have always linked with other left-backs and eventually spent big again on Alvaro Carreras in 2025 for that position. Mendy is still at the club, but he isn't a regular.

13. Eder Militao - €50m (from Porto, 2019)

Militao has been a stalwart at the heart of the Real Madrid defence when fit but unfortunately for him his career over the last couple of years has been derailed by injuries.

In 2023/24 he missed basically the entire season with a torn ACL and then in November of 2024 he ruptured the ACL in his other knee to miss the majority of the 2024/25 season.

Still, he's won multiple La Liga titles and two Champions League titles.

12. Alvaro Carreras - €50m (from Benfica, 2025)

It is still far too early to judge Carreras as his tenure at Madrid is still in its infancy, but the pressure is on as the club have been looking for a long term successor to Marcelo for many years.

11. Luis Figo - €60m (from Barcelona, 2000)

This was the most memorable transfer of Perez’s first stint as Real Madrid President. He was able to secure the services of one of the world’s best players in Luis Figo from eternal rivals Barcelona.

He made Figo the club’s first Galactico, and it didn’t go down well with the Barcelona faithful, who had adored the Portuguese in years gone by.

In his first visit back to the Camp Nou, he was given plenty of abuse, and even had a severed pig’s head thrown at him when he was taking a corner.

On the pitch, he impressed and won two leagues and a Champions League with Los Blancos.

10. Dean Huijsen - €62.5m (from Bournemouth, 2025)

Juventus made the surprising decision to sell Dean Huijsen to Bournemouth in 2024 and after a stellar debut campaign with the Cherries, he completed a €62.5m move to Real Madrid.

The Spain defender solidified his reputation as one of the best young centre-backs in the world during his short spell at Bournemouth and he became one of the marquee signings of Xabi Alonso’s first transfer window in charge of Real Madrid.

Huijsen overtook Luis Figo to become Los Blancos’ 10th-most expensive signing ever.

9. Luka Jovic - €63m (from Eintracht Frankfurt, 2019)

When Luka Jovic registered 17 goals and five assists in 25 Bundesliga starts for Eintracht Frankfurt at the age of just 20, the Serbian striker looked set to achieve great things on a global stage.

However, a €63m move to Real Madrid didn't go to plan. After just two goals across his first 18 months at the Santiago Bernabeu, Jovic was sent on loan back to Frankfurt, before joining Fiorentina on a free transfer in 2022.

One of the worst signings in Madrid's history in terms of return on investment, the notion that Jovic could have been the long-term successor to Karim Benzema now looks very silly indeed.

8. Kaka - €67m (from AC Milan, 2009)

Kaka came with such lofty expectations that, in some ways, he was an anticlimactic signing for Real Madrid.

He arrived the same summer as Cristiano Ronaldo, but a series of injuries restricted the Brazil star to just 85 La Liga starts in four years, with 23 goals signalling a decline from his near 'one in two' record at AC Milan.

That said, contributions to La Liga and Copa Del Rey titles mean he was far from a failure at the Santiago Bernabeu, despite his injury troubles and his immense global reputation.

7. James Rodriguez - €75m (from Monaco, 2014)

After a stellar World Cup showing for Colombia, James Rodriguez signed for Real Madrid during Carlo Ancelotti's first stint at the club and he immediately proved his worth with 24 goal contributions in 29 league games during his first campaign.

However, the playmaker's production steadily decreased until 2017, when he was shipped to Bayern Munich on a two-year loan deal.

After returning to Real Madrid, James was largely made to watch on from the sidelines before he reunited with Ancelotti at Everton in 2020.

6. Zinedine Zidane - €77.5m (from Juventus, 2001)

A World Cup and European Championship winner with France, Zinedine Zidane made the move to the Spanish capital for a then-world record fee of €77.5m in 2001.

While the team's success in his era was slightly underwhelming given the talent on show, Zidane earned himself legendary status during his five years in Madrid.

An unbelievable transfer, for an unbelievable athlete, who many would argue ranks as one of the greatest players ever to lace up a pair of boots. And he scored one of the most iconic goals in Champions League history with the winner against Bayer Leverkusen in the 2002 final.

5. Aurelien Tchouameni - €80m (from Monaco, 2022)

Aurelien Tchouameni could join the €100m club if add-on clauses are met, although his move from Monaco to Real Madrid cost an initial €80m in the summer of 2022.

It was a deal that raised eyebrows, largely due to Tchouameni's lack of top-level experience. After all, when he joined the club, he had not played a minute of Champions League football and had only a handful of appearances for the France national team.

However, Real Madrid beat Chelsea and Liverpool to his signature, and he has established himself as a capable long-term replacement for Casemiro.

4. Cristiano Ronaldo - €94m (from Manchester United, 2010)

A supreme talent that emerged at Manchester United and was given the platform to make football history for Real Madrid. Cristiano Ronaldo won it all in the Spanish capital.

Upon his departure in 2018, Ronaldo had notched a cool 450 goals in just 438 Real Madrid appearances, becoming the club's all-time record goal-scorer in the process, and won a whopping 16 trophies for the club.

And, had it not been for rival Lionel Messi, Ronaldo would have been out on his own as the best of his generation, and perhaps of all time.

3. Gareth Bale - €101m (from Tottenham, 2014)

Gareth Bale's final few seasons at Real Madrid were admittedly poor, but he should be regarded as a Los Blancos legend no matter what.

The Welshman was a vital part of an all-time great front three, alongside Ronaldo and Karim Benzema, and he deserves the appreciation of the Real Madrid fanbase.

Bale left the club in 2022, with 258 appearances, 106 goals, 67 assists and 18 trophies across a brilliant nine-year career at the Santiago Bernabeu. He is also, perhaps, the scorer of the Champions League final's most incredible goal ever.

2. Jude Bellingham - €113m (from Dortmund, 2023)

Jude Bellingham moved to Real Madrid from Borussia Dortmund in the summer of 2023 for an initial €103m, although that fee has now risen to €113m due to add-ons.

Los Blancos saw off competition from Liverpool and Manchester City to sign the best young midfielder in the world, with Bellingham winning the Kopa Trophy just months after joining Real Madrid.

Bellingham enjoyed a sensational first season at Madrid, scoring 23 goals and providing 13 assists across all competitions, and he established himself as the club’s latest Galactico in the process.

1. Eden Hazard - €115m (from Chelsea, 2019)

Unfortunately, Eden Hazard must go down as the worst Real Madrid transfer in history after four shocking years in Spain following his €115m move from Chelsea.

An icon at Stamford Bridge, it was always a matter of when rather than if Hazard would leave England to fulfil his lifelong ambition of becoming a Galactico. But, maybe the date of the transfer was more important than first imagined.

Hazard was plagued by injuries and bad form at Madrid, making just three starts and scoring only one goal in his final campaign at the club, before being released on a free transfer. He retired from football in 2023 at just 32 years old, having left Real Madrid with just seven goals in 76 appearances.

The 25 most expensive Real Madrid signings of all time

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