Premier League clubs splashed out a record £2.36billion on new players this summer, according to Deloitte.
The window was open from June 14 to September 1.
It exceeded last year’s record £1.92bn, with the top-flight clubs spending £255 million on deadline day alone, it said.
Premier League clubs were responsible for 48% of the spending across Europe’s top five leagues including LaLiga, Serie A, Bundesliga and Ligue 1.
“A second successive summer of record spending by Premier League clubs suggests that year-on-year revenue growth could return following the pandemic,” Tim Bridge, lead partner in Deloitte’s Sports Business Group, said in a statement.
“Nearly three-quarters of Premier League clubs [14] spent more this summer than the last, reflecting the increased intensity of competition.
Chelsea have spent more than $1bn in transfer fees since the new ownership led by American Todd Boehly and Clearlake Capital completed their takeover of the club in May 2022.