Although there was plenty of big spending by Manchester City, Tottenham, and Real Madrid, Europe's winter transfer window was less active this year, at least in terms of dollars spent, than in years past. This is particularly true if you discount the new riches of Man City - whose new billionaire owners are not reliant on football revenues to fund their purchases, and who are so desperate to put their club on the world map through record signings they spent a winter-transfer-window record total to do it - overall spending in England was way down this year. Factor in that Tottenham's spending consisted largely of re-purchasing Robbie Keane from Liverpool, for a fee estimated to be between 3-6 million pounds less than what they sold him for only this past summer -- and the figures drop off dramatically.
In Italy, total transfer fees paid in the winter transfer window were down an estimated 43% from last season.
And in Germany, the entire Bundesliga shelled out less than what Real Madrid paid for Klaas-Jan Huntelaar.