Premier League clubs brought in £40m more than they forked out in the January transfer window, according to Deloitte analysis.
Spending by top-flight clubs reached a six-year high for the winter window £215m, but a profit was recorded for the first time with clubs pocketing more in transfer fees from overseas clubs and Football League clubs than they paid out.
Chinese clubs, who are able to buy players until the end of February, been splashing the cash on Premier League talent, with Odion Ighalo leaving Watford for Changchun Yatai in a £20m Deadline Day deal.
"Spending by Premier League clubs in this January's transfer window totalled £215m, surpassing last year's total of “175m as the second-highest ever, behind January 2011,” Dan Jones, Deloitte partner, said.
"The sales of Oscar, Dmitri 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.
"As was the case last year, it is clubs in the bottom half of the table who have driven expenditure this January, investing in their squads in an attempt to secure survival.
“This is no surprise given clubs' reliance on the revenues generated from the Premier League's broadcast deals."