The 11 highest-spending soccer clubs in Europe right now have already splashed out $2 billion this summer

• Clubs in Europe's top five leagues have spent more than $5 billion on transfers already this summer.
• $2 billion of that has been spent by 11 clubs.
• The transfer window in the Premier League shuts on Thursday, August 8, but the rest of Europe has until the beginning of next month to complete its business.
• Many of those 11 clubs could keep spending.
• Visit Business Insider's homepage for more stories.

This summer, all the clubs in Europe's top five leagues — England's Premier League, Spain's La Liga, Italy's Serie A, Germany's Bundesliga, and France's Ligue 1 — have spent an astonishing $5.03 billion on transfers, according to transfermarkt.com data.

Just under half of that expenditure, $2.05 billion, has been spent because of the purchasing power of 11 clubs as the richest teams in world soccer reinforce their respective rosters ahead of the new season.

Read more: Nobody wants to buy two of the world's top soccer players because they're overpaid and too old and could be a gigantic waste of money

The Premier League transfer window closes on Thursday, August 8 but the rest of Europe has until the start of September to complete their deals.

This means that already huge figure is likely to continue to surge in the weeks to come.

As things currently stand, these are the 11 biggest-spending clubs in Europe right now.

11: Arsenal FC has already spent $127.6 million and could add to that amount in the coming days.

Arsenal manager Unai Emery has spent more than double his reported $55 million transfer budget to bring a host a fresh talent to London this summer, including splashing $87.5 million on club record signing Nicolas Pepe, who joined from LOSC Lille.

Players signed:

1. Nicolas Pepe (LOSC Lille, $87.5 million)
2. William Saliba (Saint-Etienne, $32.8 million)
3. Gabriel Martinelli (Ituano, $7.3 million)
4. Dani Ceballos (Real Madrid, loan) 

10: Bayern Munich has bought $129.1 million worth of talent.

Bayern Munich has wasted no time in replacing the departed Mats Hummels and Rafinha this summer, signing the 2018 FIFA World Cup-winning duo Lucas Hernandez and Benjamin Pavard from Atletico Madrid and VfB Stuttgart respectively. 

Players signed:

1. Lucas Hernandez (Atletico Madrid, $87.5 million)
2. Benjamin Pavard (VfB Stuttgart, $38.3 million)
3. Jann-Fiete Arp (Hamburger SV, $3.3 million) 

9: Sevilla launched an aggressive summer recruitment drive, spending $135.6 million to date.

Not content with its sixth-placed finish in La Liga last season, Sevilla has bought an astonishing 12 new players this summer.

The stand out signing is the 20-year-old centre back Jules Kounde, who arrived from Girondins de Bordeaux in a $27.3 million deal.

Players signed:

1. Jules Kounde (G. Bordeaux, $27.3 million)
2. Munas Dubbar (RB Salzburg, $16.4 million)
3. Diego Carlos (FC Nantes, $16.4 million)
4. Lucas Ocampos (Marseille, $16.4 million)
5. Joan Jordan (SD Eibar, $15.3 million)
6. Luuk de Jong (PSV Eindhoven, $13.7 million)
7. Oliver Torres (FC Porto, $13.1 million)
8. Maximilian Wöber ($11.5 million)
9. Fernando (Galatasaray, $4.9 million)
10. Yan Brice (UD Almeria, $547,000)
11. Nemanja Gudelj (Guangzhou Evergrande, free)
12. Sergio Reguilon (Real Madrid, loan)

8: Borussia Dortmund is looking to close the gap on Bundesliga rival Bayern Munich, spending $139.5 million.

Borussia Dortmund finished just two points behind Bayern Munich in the Bundesliga table, having led the race for the title for much of the 2018-2019 season.

Six new signings — including former star Mats Hummels from Bayern — could ensure another close finish in the coming year. 

Players signed:

1. Mats Hummels (Bayern Munich, $33.4 million)
2. Nico Schulz (TSG Hoffenheim, $27.9 million)
3. Thorgan Hazard (Borussia Monchengladbach, $27.9 million)
4. Julian Brandt (Bayer Leverkusen, $27.3 million)
5. Paco Alcacer (Barcelona, $23.0 million)
6. Mateu Morey (Barcelona U19, free)

7: Recently-promoted Aston Villa has invested $162.5 million in its squad as it hopes to stay in the Premier League this season.

Back in the Premier League for the first time since the 2015-2016 season, Aston Villa is determined not to drop back into the Championship, spending $162.5 million on new talent.

Players signed:

1. Wesley Moraes (Club Brugge, $27.3 million)
2. Tyrone Mings (Bournemouth, $24.4 million)
3. Douglas Luiz (Manchester City, $18.4 million)
4. Matt Targett (Southampton, $17.0 million)
5. Ezri Konsa (Brentford, $14.6 million)
6. Marvelous Nakamba (Club Brugge, $13.1 million)
7. Trezeguet (Kasimpasa, $10.9 million)
8. Anwar El Ghazi (LOSC Lille, $9.8 million)
9. Tom Heaton (Burnley, $9.62 million)
10. Björn Engels (Reims, $8.8 million)
11. Jota (Birmingham, $4.9 million)
12. Kortney Hause (Wolverhampton Wanderers, $3.7 million)

6: Juventus announced Matthijs de Ligt's arrival this summer, spending $165.7 million in total.

Matthijs de Ligt, the $93.5 million signing from Ajax, is Juventus' marquee signing of the summer.

But the club has also completed good business by signing three big-name players for free, paying no transfer fee to recruit Aaron Ramsey, Adrien Rabiot, and Gianluigi Buffon.

Players signed:

1. Matthijs de Ligt (Ajax, $93.5 million)
2. Christian Romero (Genoa, $28.4 million)
3. Luca Pellegrini (AS Roma, $24.1 million)
4. Merih Demiral (Sassuolo, $19.7 million)
5. Aaron Ramsey (Arsenal, free)
6. Adrien Rabiot (PSG, free)
7. Gianluigi Buffon (PSG, free)

5: Manchester City has again invested heavily this summer, spending $171.2 million as it looks to retain the Premier League title.

Manchester City boss Pep Guardiola has again opted to go for quality rather than quantity this summer, adding just four new signings.

Only two of those however — midfielder Rodri and full-back Joao Cancelo — are likely to feature in the Spaniard's immediate first team plans. 

Players signed:

1. Rodri (Atletico Madrid, $76.5 million)
2. Joao Cancelo (Juventus, $72.9 million)
3. Angelino (PSV Eindhoven, $13.1 million)
4. Zack Steffen (Columbus Crew, $8.7 million)

4: Three summer signings have cost Manchester United $173.9 million.

Manchester United has been linked with many players as one of England's most dominant clubs in history attempts to battle back to the top of the Premier League.

So far, United has only managed to sign three recruits but the club has splashed the cash to get their men, spending a total of $173.9 million, including $95.2 million on England international Harry Maguire — a world record fee for a defender. 

Players signed:

1. Harry Maguire (Leicester City, $95.2 million)
2. Aaron Wan-Bissaka (Crystal Palace, $60.2 million)
3. Daniel James (Swansea, $18.6 million)

3: Atletico Madrid has had a busy summer, buying eight players for a combined $226.3 million.

Having to sell Antoine Griezmann, Lucas Hernandez, and Rodri represented huge, talent-losses for Atletico Madrid, but it has done more than enough business to try and replace the trio, signing 8 new players, including $137.8 million teenage sensation Joao Felix.

Players signed:

1. Joao Felix (Benfica, $137.8 million)
2. Marcos Llorente (Real Madrid, $32.8 million)
3. Mario Hermoso (Espanyol, $27.3 million)
4. Kieran Trippier (Tottenham, $24.1 million)
5. Felipe (FC Porto, $21.9 million)
6. Renan Lodi (Athletico-PR, $21.9 million)
7. Ivan Saponjic (Benfica B, $546.9k)
8. Hector Herrera (FC Porto, free)

2: FC Barcelona is hoping $278.9 million of player purchases sees the team return to the pinnacle of European soccer this season.

Barcelona may have won La Liga last season, but it was a season to forget otherwise after it crashed out of the UEFA Champions League at the semifinal stage, and lost the final of the Copa Del Rey 2-1 to Valencia.

A busy summer indicates it is determined to do better in the season ahead.

Players signed:

1. Antoine Griezmann (Atletico Madrid, $131.2 million)
2. Frenkie de Jong (Ajax, $82.0 million)
3. Neto (Valencia, $28.4 million)
4. Junior Firpo (Real Betis, $19.7 million)
5. Emerson (Atletico-MG, $13.1 million)
6. Marc Cucurella (SD Eibar, $4.4 million) 

1: Real Madrid is this summer's biggest spender, investing $333.7 million in its roster.

It probably comes as no surprise Real Madrid has spent the most money this summer, as it is the richest soccer club on the planet.

Club president Florentino Perez has given manager Zinedine Zidane a vast checkbook, as he hopes to erase the memory of last season and usher in a new era of Galacticos at the Estadio Santiago Bernabeu. 

Players signed:

1. Eden Hazard (Chelsea, $109.4 million)
2. Luka Jovic (Eintracht Frankfurt, $65.6 million)
3. Eder Militao (FC Porto, $54.7 million)
4. Ferland Mendy (Olympique Lyonnais, $52.5 million)
5. Rodrygo Goes (Santos FC, $49.2 million)
6. Takefusa Kubo (FC Tokyo, $2.25 million)