The football transfer market is one of the most dynamic areas of contemporary sport. The aim of this study is to examine the determinants of transfer fees in the elite segment of the global football transfer market. The analysis is based on a dataset of 305 of the most expensive transfers between 2000 and 2023. Descriptive statistics, nonparametric tests, and hedonic regression models with log-transformed variables and bootstrap procedures were applied. The results show that traditional sporting indicators, such as goals and assists, have limited explanatory power within the elite segment of the market. Stronger associations are observed for contextual factors, particularly transfers to Premier League clubs and social-media visibility measured by Instagram followers. The results contribute to the debate on competitive balance and financial regulation in global football.