Football clubs in Europe's top five leagues have spent a total of 5.5 billion euros during the summer transfer window, which ended on Monday.
This is 0.9 billion euros more than the previous record set in 2018.
Premier League clubs spent 1.55 billion euros, La Liga clubs 1.37 billion euros, surpassing the one billion mark for the first time, while Serie A clubs spent 1.17 billion euros, Bundesliga clubs 740 million euros and Ligue 1 clubs 670 million. All are new records.
Dan Jones of Deloitte said record spending rates for the clubs were driven by factors such as additional revenue earned by clubs from television rights for the new season and money earned from participating in club competitions.
Jones pointed to other factors related to the clubs themselves, such as administrative changes, and improved team formation to achieve goals on the pitch, and stressed that "the improvement of the financial performance of European clubs reduced the need to sell the best players."
The Spanish league attracted the most expensive deals during the summer transfer market, and Atletico Madrid signed striker Joao Felix (19 years) from Benfica for 126 million euros, while French international striker Antoine Griezmann moved to Barcelona from Atletico for 120 million euros.
After strenuous attempts to bring in Chelsea winger Eden Hazard from Chelsea in a media deal worth around 100 million euros.