From Mendieta to Kepa: Spain's most expensive transfers recalculated for 2025
A new study reveals the true cost of Spanish football's biggest transfers when adjusted for inflation, with Kepa's move to Chelsea topping the list at €108 million.
The list of Spain’s most expensive footballers looks dramatically different when recalculated for 2025 values, with some surprising names climbing the charts and Real Madrid conspicuously absent as buyers.
Kepa tops the chart
Kepa Arrizabalaga’s 2018 move from Athletic Club to Chelsea now stands as the costliest Spanish transfer ever when adjusted for inflation, valued at a whopping €108 million. The goalkeeper, currently at Arsenal, is the only Spanish player whose recalculated fee breaks the €100 million barrier.
Mendieta’s shock second place
Perhaps most surprisingly, Gaizka Mendieta ranks second on the list - not Martin Zubimendi as many might expect. Mendieta’s 2001 transfer from Valencia to Lazio cost 8 billion pesetas (€48 million) at the time, but would be worth approximately €94 million in today’s market.
This revelation comes from Betfair’s ‘Calculator’ report, which applies an algorithm accounting for inflation and currency fluctuations to determine what historical transfers would cost in 2025.
Premier League dominance
The recalculated list highlights the Premier League’s financial muscle:
- Only one non-English team appears as a buyer in the top 10 (Lazio for Mendieta)
- Chelsea features prominently, having signed both Kepa and Fernando Torres
- Barcelona (Ferran Torres) and Atlético Madrid (Diego Costa) make appearances as buyers
- Real Madrid only appears as a selling club, despite their reputation for galáctico signings
Torres and Morata climb the rankings
Fernando Torres’ move from Liverpool to Chelsea jumps from 10th to 5th place in the recalculated list, now valued at over €90 million. Similarly, Álvaro Morata’s transfer from Real Madrid to Chelsea would cost nearly €91 million today - €25 million more than the 2017 fee.
Interestingly, Morata ranks as the fifth most expensive player globally when all his transfers are adjusted to current values. His various moves between Juventus, Atlético Madrid, Chelsea and others would total €281 million today - €64 million more than originally paid.