(CNN)Manchester City has become the first club in the history of football to invest more than one billion euros ($1.1 billion) on the transfers of players that make up its current squad, according to research by the CIES Football Observatory.

The English champion leads the way on €1,014 billion ($1.10 billion), ahead of France’s Paris Saint-Germain (€913 million/$1 billion) and Spain’s Real Madrid ((€912 million/$995 million).City, which won the domestic treble last season, broke its transfer record earlier this year when it paid a reported £62.8 million ($77.6 million) for Spanish midfielder Rodri from Atletico Madrid. City’s current squad also includes David Silva, who was signed in 2010.The Premier League champion has spent 32 times more than Norwich City on its squad of players.Manchester City's Spanish midfielder Rodri (C) tackles Bournemouth's Welsh midfielder Harry Wilson.Manchester City's Spanish midfielder Rodri (C) tackles Bournemouth's Welsh midfielder Harry Wilson.Manchester City’s Spanish midfielder Rodri (C) tackles Bournemouth’s Welsh midfielder Harry Wilson.READ: ‘We know how big it potentially could be’: City earns bragging rights in first women’s Manchester DerbyRead MoreREAD: Transfer deadline day: Whatsapp messages, spinning plates and a ‘Catch 22’According to CIES Football Observatory, the research analyzed transfers to have taken place since 2010 involving teams from the top five major European leagues.Manchester United on €751 million ($829 million) were found to be the fourth biggest spenders, ahead of Juventus on €719 ($793 million), and Barcelona on €697 ($769 million).According to the research, European champion Liverpool was ranked seventh after spending €639 ($705 million). Liverpool's Virgil van Dijk kisses UEFA Champions League trophy. He was reported to have cost the club £75 million ($92.7 million) from Southampton.Liverpool's Virgil van Dijk kisses UEFA Champions League trophy. He was reported to have cost the club £75 million ($92.7 million) from Southampton.Liverpool’s Virgil van Dijk kisses UEFA Champions League trophy. He was reported to have cost the club £75 million ($92.7 million) from Southampton.READ: Real Madrid usurps Manchester United as world’s richest clubREAD: Lukaku monkey chants ‘not racist’, says Inter Milan fans groupCity, which is owned by Sheikh Mansour bin Zayed al-Nahyan’s investment company Abu Dhabi United Group, was also found to be the biggest spender on player transfers in the past decade.City has spent €1,368 billion on transfers ($1,809), with Barcelona just behind on €1,525 billion ($1,685 billion).Chelsea, PSG, Juventus, Manchester United, Real Madrid, Atletico Madrid and Liverpool are all recorded to have all spent over €1 billion ($1.1 billion) on transfers over the past 10 years.City also had the largest net spend deficit between 2010-2019 (-€1,091billion /-$1.2 billion), ahead of PSG, Manchester United and Barcelona.English Premier League clubs alone have a total net negative balance of €6.5 billion ($7.2 billion).French club Lille had the most positive net balance for transfers followed by Monaco, Genoa, Lyon and Udinese.Paris Saint-Germain's French striker Kylian Mbappe joined from Monaco.Paris Saint-Germain's French striker Kylian Mbappe joined from Monaco.Paris Saint-Germain’s French striker Kylian Mbappe joined from Monaco.READ: Kylian Mbappe — PSG’s new figurehead?READ: Liverpool’s European kings honored in FIFPro World XI shortlistMeanwhile, French club Monaco received the most monies for its players between 2010-2019 from clubs playing in Europe’s top five leagues.Monaco has raked in €1,029 billion ($1.135 million)) from player sales over the past decade which included offloading Kylian Mbappe to PSG for a reported €180 million ($199 million).

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