Premier League top 6 teams have been spending quite amount of money on players. Arsenal is the only team out of those 6 who has an underachievement in relative spending.
Manchester City
Spent - £ 753 million , Received - £224 million, Net Spend - £529 million
Manchester United
Spent - £678 million, Received - £202 million, Net Spend - £476million
Arsenal
Spent - £385 million, Received - £153 million, Net Spend - £232 million
Chelsea
Spent - £694 million , Received - £487 million, Net Spend - £207million
Liverpool
Spent - £620 million , Received - £4437 million, Net Spend - £183 million
Tottenham
Spent - £254 million, Received - £225 million, Net Spend - £29 million.