Arsenal had a net transfer spend of £125.8million last summer, according to the accounts published last night.
While the statement itself focused on the financial year ending May 31, 2021, an addendum at the bottom revealed the outlay to bolster Mikel Arteta's squad as the club seeks a return to the Champions League.
That figure includes the cost of signing Aaron Ramsdale, Ben White, Martin Odegaard, Nuno Tavares, Albert Sambi Lokonga and Takehiro Tomiyasu, with Joe Willock's sale to Newcastle United deducted.
For the financial year the club made a post-tax loss of £107.3million, with £85million of that attributable to the pandemic.
Football revenue for the year was £327.6million, down from £343.5million.
Arsenal played 31 times at the Emirates Stadium but only two of those fixtures had supporters in attendance, meaning matchday revenue fell by £75million to £3.8million.
Broadcast revenue climbed to £184.4million, from £118.9million a year previous, owing to additional games been played during Operation Restart. Commercial income fell by £5.9million to £136.4million.
Overall wage costs rose by £9.9million to £244.4million with the transfer spend for 2020/21 £115million with £18million regained in fees.
The accounts also reveal that the club could pay up £37.2million in potential add-ons relating to signings, listed as liabilities.
A £70million loan facility with Barclays bank remains and the club said that its financial challenge remains significant but "the club continues to have the unwavering support and commitment of its ownership, Kroenke Sports & Entertainment."
The accounts were published eight hours after the club announced it was to raise ticket prices at the Emirates by 4% next season, a move that has been heavily criticised by supporters.
