FIFA Has revealed the figure for worldwide transfer fees paid in 2014, and England's Premier League clubs led the pack last year.
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Yesterday, FIFA revealed that the total spending by the world's football clubs on transfers last year exceeded $4 billion.
The report continued to state that English clubs spent more than those from any other league in the world, with a total of $1.17 billion (R13,63 billion) spent on transfers throughout the 12 months of 2014.
The country that received the highest amount in fees over the course of the year is Spain, whose constituent clubs received $667 million (R7,8 billion).
Furthermore, the money spent by the world's football clubs, as reported by the FIFA TMS' Global Trasfer Market Report, resulted in a higher figure than ever in the history of the beautiful game.
The full findings for the report are as follows:
In 2014, the total value for international transfer fees reached a new high at $4.1 billion (R47.73 billion).
The total number of international transfers in 2014 was 13,090.
Brazil was the most active country in the market, recording 646 incoming transfers and 689 outgoing transfers.
England was the country that spent the most on transfer fees in 2014 - $1.17 billion (R13.64 billion) and Spain the biggest receiver ($667 million R7.8 billion).
England spent a total of $452 million (R5.26 billion) to engage players from Spanish clubs, up 92 per cent up on the previous year. In total 62 players moved from Spain to England.
The average age of players transferred during the year was 25 years and 6 months.
$236 million (R2.74 billion) was paid in club intermediary commissions for international transfers throughout 2014. English clubs paid a total of $87 million (R1.01 billion) in 2014 (37% of the total club intermediary commissions paid worldwide), an increase of $12 million when compared to 2013.
In 2014 international transfers from England to Wales, England to Scotland and Wales to England appear in the top 5 streams worldwide. The increase in transfer activity was in part driven by the growing role of clubs from Wales such as Swansea City and Cardiff City FC.
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Are you surprised that England is the world's highest spending football nation? Have your say in the comments section below.
