England's Premier League spent a whopping $1.6 billion on new players during the transfer window

The 20 teams in England's top soccer league spent a record amount of money acquiring new players during the summer transfer window, easily outpacing the other "Big Five" European football leagues.

The Premier League teams spent £1.17 billion (US$1.55 billion) on new players, according to data collected by Deloitte (via BBC). Italy's Serie A was second at £590 million (US$783 million), followed by Germany's Bundesliga at £460 million (US$610 million).

Spending is so high in England these days, that clubs in their second division, Football League Championship, actually spent more than members of France's Ligue 1, another one of the "Big Five" leagues.

Cork Gaines/Business Insider