Manchester City and Manchester United have posted the highest transfer deficits in Europe over the last 10 transfer windows, new data shows - while Everton and Aston Villa have racked up bigger losses than both Chelsea and Arsenal.
New figures released by the CIES Football Observatory put into perspective the huge outlay on new talent from across Europe's top five leagues from the past 10 transfer windows - or since the summer window of 2016.
The data shows just how lavish some clubs' spending is and how some, like City and United, are able to hoover up the world's best talent without having to sell players to balance the books.