Premier League clubs splashed out over $295 million NZD on agents' fees last year - a 15 million increase on the previous 12 months.
Liverpool spent the most of any club as they paid out $32 million to the sport's middle men over the last two transfer windows, according to figures released by the Premier League on Monday.
The second highest spenders were Manchester United $31.6m, followed by local rivals Manchester City $28.4m.
Chelsea and Arsenal both spent $27.4 million, while at the other end of the scale newcomers Watford paid $3.62 million.
Fees are not just paid to agents when transfers happen, but also when players sign new contracts.
During the period in question, there were 172 inbound transfers and loans in the Premier League, 542 new or improved contracts and 573 outbound transfers and loans - a total of 1,287 transactions, all of which could have led to an agent's fee being paid.