English Premier League clubs spent a record $1.53 billion during the summer transfer season, according to the BBC.
The BBC used data from Deloitte, which is a tax and audit advisory firm based in New York City.
During the final day of the transfer window, teams spent £155 million ($203.76 million), breaking the previous record of £140 million set during the 2013 summer transfer window.
Chelsea re-signed defender David Luiz from Paris Saint-Germain for a reported £35 million ($46.02 million), while defending Premier League champions Leicester City signed Algeria striker Islam Slimani from Sporting Lisbon for a reported £35 million.
The increase in spending is a result of a new television deal worth $7.8 billion that is set to run until 2019.
"The increases in broadcast revenue, with the 2016–17 season being the first of the new broadcast deal cycle, is the principal driver of this spending power," said Dan Jones, a partner at financial analyst Deloitte.
The four Premier League clubs—Arsenal, Leicester City, Manchester City and Tottenham Hotspur—spent around £385 million in transfers, with 13 teams setting new records in spending.
- Scooby Axson