Premier League sets new transfer market record with more than €4 billion spent

NEW: Premier League clubs smash the transfer record with more than €4 billion spent this summer, with Manchester City setting a single-club record of over €500 million.

Four billion euros. That's what Premier League clubs just spent on transfers in one single summer, and nobody's ever done that before.

Manchester City led the charge with a record of their own, more than five hundred million on new signings, the most any club has ever spent in one window. You can see the champions in action here, and every one of those shirts now comes with a very expensive price tag.

Want the detail that made me laugh? All eighteen Ligue 1 clubs combined spent six hundred and five million this summer. City, on their own, nearly matched the entire French top flight. That's not a rivalry anymore, that's a different sport.

So the gap between England and everyone else isn't closing, it's a canyon. And the scary part for the rest of Europe is that the Premier League's next TV deal hasn't even kicked in yet.

This is Sara White, reporting for HIT.