Arsenal have completed the signing of Olivia Smith for a record fee, which sees the Canadian youngster become the first-ever woman to cost £1 million.

The deal has been widely publicized since the agreement was reached between the two clubs, as it further reinforces the fact that women's football is in the middle of a commercial revolution.

46 years since Trevor Francis became the first £1 million transfer in football history, following his move to Nottingham Forest from Birmingham City, Olivia Smith breaks the jinx in women's football, and greater numbers are expected to follow the milestone in the coming windows.

From the Americas to Europe, big-name players are moving in this direction—and for big money. In light of this, we revisit the top 10 most expensive players in women’s football history and how the stars adapted once the dust settled.

Top 10 Most Expensive Players in Women’s Football History

1. Olivia Smith – Liverpool to Arsenal (£1m, July 2025)

The Canadian wonderkid becomes the first woman transferred for £1 million following her move to Arsenal from fellow English club Liverpool, which made her the most expensive player in women’s football history.

Known for her flair and vision, Smith dazzled in Portugal before moving to Liverpool in 2024. After one season at Anfield—where she scored nine goals and added one assist in 25 games across all competitions—the 20-year-old now joins Renée Slegers’ European champions for the upcoming season.

The transfer fee is already starting to earn her critics, especially those who believe she is not worth the amount. Olivia will be out to prove them wrong when the season gets underway.

2. Naomi Girma – San Diego Wave to Chelsea (£890,000, January 2025)

Following a stellar stint at San Diego Wave and standout performances with the USWNT during the inaugural CONCACAF W Gold Cup and SheBelieves Cup in 2024, Girma was snapped up by Chelsea.

The defender completed her move for £890,000, breaking the women’s transfer record and becoming the first woman to be sold for over $1 million.

She arrived bearing an injury, but since her return to fitness, Naomi has started to prove her worth in the colours of the Blues. Surely more of her will be seen next season.

3. Racheal Kundananji – Madrid CFF to Bay FC (€685,000, February 2024)

In early 2024, NWSL expansion side Bay FC shocked the world by signing Kundananji from Madrid CFF in a record-breaking deal.

The Zambian striker was a sensation in Spain, netting 35 goals and five assists in 46 games across all competitions. Signed for approximately £625,000, she continues to adapt to the more physical American game.

4. Tarciane Lima – Houston Dash to Lyon (£650,000, February 2025)

Less than a year after joining the NWSL in the biggest move involving a Brazilian player, young centre-back Tarciane attracted the attention of European giants Lyon.

The French club paid a hefty £650,000 for her signature in February 2025. Coming shortly after Girma's record move, Tarciane signed a four-and-a-half-year contract, becoming the fourth most expensive female footballer in history.

5. Barbra Banda – Shanghai Shengli to Orlando Pride (£580,000, March 2024)

After impressing in China, Barbra Banda joined Orlando Pride in a deal worth £580,000, making her the second-most expensive woman in football at the time—behind fellow Zambian Racheal Kundananji.

Banda has proven to be a bargain, leading her club to the NWSL Championship and Shield titles, while also winning the tournament's Player of the Year. She recently set a record for the fastest hat-trick in NWSL history, completed in just 38 minutes against Utah Royals.

She also won the BBC and African Player of the Year awards and featured in the FIFA FIFPRO XI.

6. Keira Walsh – Barcelona to Chelsea (£450,000, 2025)

After two-and-a-half successful seasons at Barcelona, the England midfielder signed for Chelsea for £450,000, reappearing among the most expensive players in the game, though not for the first time.

Chelsea were interested when she first left Manchester City, but Walsh initially chose her childhood favourite club, Barcelona. She eventually joined Chelsea in February 2025, making 15 appearances and contributing to a domestic treble in the 2024/25 season.

7. Keira Walsh – Manchester City to Barcelona (£400,000, 2022)

Barcelona splashed out £400,000 in the summer of 2022 to sign Keira Walsh from Manchester City—almost doubling the previous world-record fee (Pernille Harder’s £250,000 to Chelsea).

The deal raised eyebrows, but Barcelona saw her as crucial to revamping their midfield after Alexia Putellas’ injury. Walsh went on to become a tempo-setter in midfield, helping the Catalan side to multiple trophies, including two UEFA Women’s Champions League titles.

She left the club in January 2025 due to homesickness and joined Chelsea—this time for a fee higher than her original record move.

8. Priscia – Internacional to Club América (£378,000, 2024)

Just weeks after her 20th birthday, Priscila was signed by Mexican side Club América in a deal that made her the most expensive Brazilian at the time, and among the five costliest transfers in women’s football.

The young forward has impressed for her new club, scoring 13 goals in 23 league games, already surpassing her best season at Internacional.

The deal included a clause guaranteeing Internacional 20% of any future sale, and with her current form, the Brazilian club may expect a healthy return.

9. Mayra Ramírez – Levante to Chelsea (£384,000, 2024)

After an impressive 18 months at Levante, where she scored 22 goals and provided 12 assists in 40 matches, Mayra Ramírez earned a high-profile move to Chelsea for £384,000.

At the time, it was the most expensive transfer for a South American woman in football. Ramírez has since scored 15 goals and contributed nine assists in 46 games for Chelsea, winning four trophies, including two league titles, and earning a Ballon d’Or nomination in 2024.

10. Lena Oberdorf – Wolfsburg to Bayern Munich (£384,000, 2024)

In their bid to assert dominance in German women’s football, Bayern Munich signed Lena Oberdorf from Wolfsburg for £384,000, making her both the most expensive German player and one of the costliest in history.

The move was sealed in February 2024, but tragedy struck when Oberdorf suffered a serious ACL injury during European Championship qualifiers later that year. She is yet to debut for Bayern due to the setback, but she's now back in training.

Oberdorf was named best young player at the Women's European Championship 2022, where Germany finished second to England.

More Money, Yet More Than Just the Money

These transfers represent more than inflated fees; they reflect a cultural and commercial shift in the value of women’s football. Each player carried not just a price tag, but expectations, and many have delivered.

Olivia Smith’s million-pound move will undoubtedly open the door for more groundbreaking deals, proving that women’s football isn’t just catching up, it’s setting new standards.