By Jonathan Davies
Football clubs spent $4.1bn (£2.7bn) on international players transfers in 2014, according to football's governing body FIFA.
It is the first time spending topped $4bn, with a 2.1% increase on 2013's spending.
English clubs spent $1.2bn on international transfers, more than any other nation. It accounted for more than a quarter of the total spend and was 67% more than the second biggest spenders, Spain ($700m).
Premier League clubs have been boosted by increasingly lucrative TV broadcast deals in recent seasons. The current deal was worth £3.02 billion, but with bidding already open for the broadcast rights for the 2016-17 to 2018-19 seasons, the next contract is expected to bring in even more money.
"From a spending perspective the English market is dominating," said Mark Goddard, from Fifa's transfer unit.
English clubs also accounted for more than a third of fees paid to agents. $236m was paid to agents around the world in 2014 for their part in transfers, with English clubs contributing $87m of that.
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