The Premier League is the most widely followed football league in the world. This translates to a lot of money in terms of matchday revenue. As a result, Premier League clubs are some of the richest in the world.Premier League top six have made a few blunders in the transfer marketEngland's top-flight top six clubs are renowned for flexing their financial muscle in every transfer window. At times, they are bang on the money with their signings, but there have been times when big-money signings have not worked out for them.It's quite common for Premier League sides to break the bank to make marquee signings every summer transfer window.Without further ado, let's take a look at five of the most overpaid Premier League transfers of all time.#5 Alvaro Morata to Chelsea - €66 millionChelsea v Huddersfield Town - Premier LeagueAlvaro Morata had outgrown the role of deputy striker at Real Madrid and looked set for his big move in the summer of 2017. Both Manchester United and Chelsea were reportedly in the race to sign him. Both clubs were also interested in Romelu Lukaku and the Red Devils stole the march on the Blues and signed the Belgian from Everton.Chelsea acted immediately and signed Morata from Real Madrid. They paid €66 million to secure his services. He got off to a decent start and even scored a hat-trick within the first two months of his arrival. But it was all downhill from there.Morata scored just 15 goals and provided six assists in 45 appearances across all competitions for Chelsea in the 2017-18 season. He had another underwhelming half-season for Chelsea before he was shipped out to Atletico Madrid on loan.In July 2019, Atletico Madrid signed Morata on a permanent basis for close to €68 million. Chelsea can take solace in the fact that they recouped all the money they invested in him, at the very least.Selling Alvaro Morata for £58m and activating Timo Werner's £49m release clause. Chelsea doing business. pic.twitter.com/OPWEF3X8ia— ESPN FC (@ESPNFC) June 5, 2020#4 Benjamin Mendy to Manchester City - €57.5 millionManchester City v Manchester United - Premier LeagueBenjamin Mendy was a vital cog in the AS Monaco side that made an exciting run to the semi-finals of the Champions League 2016-17 season. He was also part of the mass exodus that happened at Monaco that summer. Manchester City signed Mendy for €57.7 million in the summer of 2017.Mendy has now been at Manchester City for four seasons. He has made just 49 appearances in the Premier League so far. The left-back is extremely injury prone and is yet to produce much of note for Pep Guardiola's side.Manchester City made him the most expensive defensive signing in the history of the Premier League. They have now spent plenty more to nurse his multiple injury problems.Pep Guardiola has spent over £400 million on defenders at Man City 🤑John Stones: £47.5mBenjamin Mendy: £52mKyle Walker: £45mAymeric Laporte: £57mDanilo: £26.5mAngelino: £11mJoao Cancelo: £60mNathan Ake: £41mRuben Dias: £62m pic.twitter.com/79wwYQhMiD— Goal (@goal) September 28, 2020