Manchester United splashed the cash again this summer.
Despite the effects of coronavirus, United spent £75m on players over the last few months.
That total included spending £35m on Donny van de Beek and £13.5m on Alex Telles.
According to CIES, United have spent an incredible €844m on their current squad.
But how does that sum compare to the rest of Europe's top sides? CIES have crunched the numbers and we have listed the 20 teams that have spent the most on their current squad below.
20. Wolves - €293m
19. Roma - €303m
18. Dortmund - €311m
17. Monaco - €358m
16. Leicester - €370m
15. Bayern Munich - €408m
14. Inter Milan - €439m
13. Napoli - €467m
12. Tottenham - €479m
11. Atletico Madrid - €483m
10. Everton - €504m
9. Arsenal - €590m
8. Juventus - €594m
7. Liverpool - €666m
6. Real Madrid - €708m
5. Chelsea - €763m
4. Barcelona - €826m
3. Manchester United - €844m
2. Paris Saint-Germain - €888m
1. Manchester City - €1036m
There's a few eye-catching names in the top 20.
The fact that Bayern are the best team in the world having spent just €408m on their current squad is astonishing. It just goes to show how shrewd they are in the transfer market.
Everton and Carlo Ancelotti have been receiving a lot of plaudits for their start to the season, but it's not as impressive given the Toffees have spent €504m on their current squad.
It's perhaps surprising to see Liverpool squad is the seventh most expensive in Europe. Jurgen Klopp has clearly recruited well and not had to spend massive amounts to achieve success.
After the big money arrivals of Kai Havertz, Timo Werner and more this summer, Chelsea now have the world's fifth most expensive squad. Time will tell whether they will be rewarded for their big spending.
Man United's squad is the third most expensive squad in the world. The fact they've spent more than €150m more on their squad than Liverpool's is laughable.
And it's no surprise to see that the two richest clubs in world football, PSG and Man City, are way out in front. Man City have actually spent more than €1billion on their squad, which is quite frankly insane.