AC Milan vice-president Adriano Galliani has questioned the "financial sense" of the English transfer market in the wake of Monday's deals.
English clubs spent over £218million throughout the month, with the most notable buys taking place on the final day as Liverpool and Chelsea sparked a transfer merry-go-round.
The Blues forked out a British record £50million for Fernando Torres, with which beneficiaries Liverpool invested £35million of in Andy Carroll from Newcastle.
On top of that, Chelsea added £21.3million defender David Luiz to their books while Liverpool secured the capture of £22.7million striker Luis Suarez on a hectic day in English football.
And with UEFA's Financial Fair Play regulations being introduced next year, Milan chief Galliani has lamented the frenzied buys by England's heavyweights.
"Everyone's talking about balancing the books but then they spend like crazy people," said Galliani.
"[Chelsea] strengthened in an amazing way spending 80million euros, I just don't know where financial sense will end up."
Milan were busy in the market themselves, drafting in Antonio Cassano from Sampdoria, Dutch midfielder Mark van Bommel, plus Urby Emanuelson and Didac Vila.
However, Galliani defended the Serie A leaders' dealings, claiming them necessary due to their lengthy injury list as the club seek to win their first Scudetto since 2004.
"We have 11 players out injured and one suspended," he claimed.
"In American Football they know they always have 10 players injured so they have three players for every position.
"There were as many games before as there are now but football is changing, it's more physical."