Premier League clubs have shelled out a record £1.4 billion in transfers this season, according to a report Wednesday that warned of over-reliance on big Chinese spending.

The Deloitte consultancy study said top-tier English sides made 40 million pounds ($50 million/46 million euros) in profit from the January transfer window, the first time they have come out of the football horse-trading in the black.

The market closed on Tuesday night with Southampton swooping for Napoli's Italy forward Manolo Gabbiadini for at least £14 million while Burnley completing the reported club-record £13 million signing of Norwich winger Robbie Brady.

Deloitte said total gross spending by Premier League clubs for the 2016/17 season is now almost £1.4 billion ($1.76 billion/1.6 billion euros) smashing the previous record of £1 billion set last season.

The latest eye-watering outlay was "far in excess of any other league in world football", said Dan Jones of Deloitte's sports business department.

In all, the 20 Premier League clubs spent £215 million on new players during the market from January 1 until Tuesday, Deloitte said, the second-highest amount for this window since 2011.

The bottom six teams fighting for their Premier League lives -- Hull City, Sunderland, Crystal Palace, Swansea, reigning champions Leicester City and Middlesbrough -- accounted for more than 50 percent of the January sales spending.

"The sales of Oscar, Dimitri Payet, Odion Ighalo and Memphis Depay, as well as around £20m worth of sales to Championship clubs, have helped Premier League clubs record net receipts for the first time in a transfer window," said Jones.