Liga: rising expenses and declining revenues in 2014 winter market, - €4.8m deficit

The 2014 winter transfer window in La Liga is characterised by a balance deficit of - €4.8m. The 20 clubs in the Spanish first division had achieved a balance profit of €9.5m the previous year in January 2013. This result is explained by a 50% decrease in sales (€11.5m in January 2014 against €23.15m a year earlier) and a 19.3% increase in purchases (€16.25m in January 2014 against €13.6m a year earlier).

The cumulative amount of sales and purchases of the Liga is the lowest in the five major European championships. Spanish clubs completed 16 less transactions than in the 2013 winter market (94 in January 2014 against 110 the previous year), representing a decrease of 14.5%. Paid transfers represent 9.4% of departures and arrivals represent 15.2% during the La Liga 2014 winter transfer window.

Foreign championships are the first destination (55.5% of sales) and the first recruitment market in La Liga (68.6% of total purchases).

• Summary of the 2014 La Liga winter transfer window: