Manchester City's January spending was not a precautionary measure for a future transfer embargo, manager Pep Guardiola said, adding the club would learn the verdict of a hearing into their alleged violations of Premier League regulations in "one month".

Global transfers during the January window broke the $2 billion (£1.6bn) mark for first time in the men's game according to FIFA data.

The January 2025 transfer window shattered records across the footballing world, with global spending hitting an unprecedented $2.35 billion, according to FIFA’s International Transfer Snapshot. This marks a nearly 20% increase from the previous January high set in 2024.

Clubs worldwide spent a record $2.35 billion on international transfers in men's soccer in the January window, nearly a 58% increase from last year, world soccer's governing body FIFA said in a study published on Friday.