#5 Everton (£20.3 million)

5th on the list are Everton, who under the ownership of Businessman Farhad Moshiri splashed out £20.3 million on French defensive midfielder Morgan Schneiderlin. The Frenchman ended a miserable two-year spell at Old Trafford as he sought a new beginning at Goodison Park.
Hoping to recapture the Southampton form that saw United splash out the cash, Schneiderlin got straight back into the groove, performing well alongside Idrissa Gueye. This season, however, hasn’t been all that rosy for the midfielder as a lack of form has seen him being dropped from first-team action.
#4 Manchester City (£27 million)

Surprisingly low on this list are Pep Guardiola’s Manchester City who in recent years have preferred to spend much of their wealth during the summer. This may change though in the coming weeks as Guardiola seeks to improve his already talented squad.
It doesn’t mean that City don’t spend in January, with two strikers namely Edin Dzeko and Gabriel Jesus holding their January transfer record, both arriving for £27 million each.
Dzeko, who initially struggled at the Etihad, played a crucial role in both of City’s title triumphs. Now with Roma, the Bosnian enjoyed his best season last term having scored 39 goals in all competitions.
Gabriel Jesus, on the other hand, has proved to be an even better signing simply due to his greater adaptability after arriving in Manchester from Brazil. The Brazilian scored 7 times in 10 Premier League games after arriving from Palmeiras last January and has already given lead striker Sergio Aguero a run for his money.