Seven of Europe's biggest clubs have spent more than €1billion (£900million) in transfer fees on players since 2010.
And of those seven clubs, four are from the Premier League — Manchester City, Chelsea, Manchester United and Liverpool.
A new study from the CIES Football Observatory has crunched the numbers and revealed that the signings of the likes of Kevin De Bruyne, Kepa Arrizabalaga, Paul Pogba and Alisson has seen the Premier League quartet top the 10-figure mark in outgoings.
City have spent the most from England, forking out €1.47bn (£1.33bn) in transfer fees since 2010.
They are closely followed by another Premier League side in Chelsea, who have splashed out €1.31bn (£1.18bn) in that timeframe.
Elsewhere in the top seven, United have spent €1.1bn (£991m) on new players, while Liverpool have, following their recent spree, plunged €1.07bn (£964m) in the last eight years.
Rounding out the teams that have spent over €1bn are Barcelona (€1.26bn (£1.13bn)), Paris Saint-Germain (€1.24bn (£1.11bn)) and Juventus (€1.09bn (£982m)).
English clubs are also the most highly-represented subset of clubs within the top 20 for transfer fee investment by clubs.
There are seven Premier League sides in the top 20, with Arsenal, Everton and Tottenham all earning a place.
Meanwhile, Germany can only provide two clubs, who are at the bottom of the top 20. Italy is the closest competitor to England, with five teams and Spain follows closely behind with just four teams in the top 20.
France, surprisingly, has two representatives in PSG and Monaco.
The CIES research includes all transfer fees, add-ons, and loan fees paid out by clubs.
THE TOP 20 FOR TRANSFER FEES
1. Manchester City (€1.47bn)
2. Chelsea (€1.31bn)
3. Barcelona (€1.25bn)
4. PSG (€1.24bn)
5. Manchester United (€1.10bn)
6. Juventus (€1.08bn)
7. Liverpool (€1.07bn)
8. Real Madrid (€912m)
9. Roma (€809m)
10. Atletico Madrid (€764m)
11. Inter Milan (€748m)
12. Monaco (€706m)
13. AC Milan (€678m)
14. Arsenal (€671m)
15. Everton (€597m)
16. Tottenham Hotspur (€589m)
17. Napoli (€579m)
18. Valencia (€555m)
19. Bayern Munich (€554m)
20. Borussia Dortmund (€531m)