Premier League spending reached never-before-seen levels this summer as a record-breaking deadline day sent the division's total outlay soaring past the £1bn mark.
The window closed with England's cash rich top divisions spending a total £1.165bn on new players, a 34 per cent increase on the previous record of £870m set last summer according to figures from the Deloitte Sport Business Group.
Premier League clubs spent £155m on the final 24 hours of the window — setting a new deadline day record — as Chelsea and Tottenham made headlines with their respective purchases of David Luiz and Moussa Sissoko.
Chelsea spent nearly £60m on the final day of the window, including £34m on former defender Luiz and £23m on left-back Marcos Alonso from Fiorentina.
But it was the Manchester clubs who topped the spending clubs.
Manchester City exited the window having spent over £180m on new players — more than any other club —while rivals United broke the transfer fee record by paying £89m for Paul Pogba.
"This is the fourth consecutive year the summer transfer spending record by Premier League clubs has been broken," said Deloitte Sports Business Group's Dan Jones.
"At the start of the 2013/14 season, the summer transfer spending record had stood at £500m, and the fact that this record has more than doubled since then is a clear indicator of the financial growth of the league.
"As has been the case for a number of years now, the increases in broadcast revenue, with the 2016/17 season being the first of a new broadcast cycle, is the principal driver of this spending power. The increase in the value of these deals and the comparatively equal revenue distribution of these by the Premier League has again allowed clubs throughout the division to invest significantly in this summer's market.
"For those clubs traditionally at the upper end of the table who have been investing most significantly, their commercial revenue growth has also been a critical enabler of the increases in spending."