Manchester City, Arsenal and Liverpool have posted the biggest net losses of any clubs in world football this summer, underlining once again the spending power of the Premier League's elite.
According to figures from the CIES Football Observatory, Pep Guardiola's side recorded a deficit of around £314million, narrowly ahead of Arsenal on £311m and Liverpool on £208m.
Six English clubs appear in the global top 10 loss-makers, alongside Cristiano Ronaldo's Al-Nassr, Real Madrid, Atletico Madrid, Galatasaray and Italian outfit Como.