#3 Everton - €50 million
Everton were one of the busiest Premier League clubs in the recently concluded winter transfer window.
With only five wins in 20 games, the Toffees are perilously close to the relegation zone. Their poor form this season cost Rafa Benitez his job, and Everton appointed former Chelsea manager Frank Lampard in his place.
The Merseysiders have also backed their new manager with a slew of winter reinforcements. They brought in left-back Vitaliy Mykolenko from Dynamo Kyiv and Nathan Patterson from Rangers. The Toffees also signed midfielders Donny van de Beek (Manchester United) and Dele Alli (Tottenham Hotspur) on loan, and winger Anwar El Ghazi from Aston Villa.
Nevertheless, Lampard has quite a task at hand as he integrates the new players to his roster and take the team to the top half of the league table.
#2 Barcelona - €55 million
Barcelona were one of the biggest spenders in Europe's top five leagues during the winter transfer window.
The Blaugrana are way off the pace in La Liga this season, trailing league leaders Real Madrid by 15 points, albeit with a game in hand. New manager Xavi Hernandez, who came in mid-season, has inherited a squad of talented youngsters and ageing superstars.
The club's poor financial situation meant they couldn't offer contract renewals to Lionel Messi and Antoine Griezmann last summer. As a result, they could make only one signing - Emerson Royal - and a few loan signings. With their finances improving, they delved into the market in winter to address the deficiencies in their roster, especially up front.
Barcelona splurged €55 million to bring in 21-year-old winger Ferran Torres from Manchester City.
They also brought in wantaway Arsenal striker Pierre-Emerick Aubameyang and Dani Alves on free transfers. Adama Traore joined from Wolverhampton Wanderers on loan.
Torres and Alves have already made goal contributions. Xavi will hope the others to also hit the ground running as Barcelona seek a strong end to the season.
#1 Newcastle United - €57.5 million
Newcastle United were the talk of the town after their takeover last year by a Saudi-based consortium made them the wealthiest football club in the world.
However, on the field, the Magpies are languishing in the relegation zone, having won only twice all season. As a result, they delved into the winter transfer market, and were virtually linked with almost every available player.
Clubs did try to make the most of Newcastle's newfound wealth. Nevertheless, the Magpies still splurged over €100 million to augment all three areas of the field. Defensive midfielder Bruno Guimaraes (€42 million) was brought in from Lyon, while striker Chris Wood (€30 million) arrived from Burnley.
Meanwhile, right-back Kieran Tripper (€15 million) and centre-back Dan Brown (€15 million) were signed from Atletico Madrid and Brighton respectively.
Matt Targett arrived on loan from Aston Villa, while two other players returned from loan deals.