Clubs worldwide spent a record $9.63 billion on international transfers in 2023, an increase of nearly 50% compared to 2022, world soccer's governing body FIFA said in its Global Transfer Report published on Tuesday.
Arsenal's search for a proven goalscorer to spearhead their challenge for a first Premier League title since 2004 could also loom large.
Premier League side Chelsea completed the signing of Argentina midfielder Enzo Fernandez from Benfica for a British record 106.8 million pounds ($131.46 million) on Wednesday after a day of complex negotiations between the clubs.
Moises Caicedo has pleaded with Brighton to accept a club record transfer fee amid interest from Arsenal in the midfielder.
Premier League leaders Arsenal signed Poland defender Jakub Kiwior from Italian side Spezia in a deal worth a reported £12 million ($27 million) on Monday.
Chelsea completed the signing of Noni Madueke from PSV Eindhoven on Friday to continue a remarkable spending spree.
Wolverhampton Wanderers have signed Spain midfielder Pablo Sarabia from Paris St Germain on a contract until 2025, the Premier League club said on Tuesday
Chelsea swooped to beat Arsenal to the signing of Ukrainian international winger Mykhailo Mudryk from Shakhtar Donetsk for a fee that could rise to 100 million euros (£88 million, $108 million) on Sunday.
Chelsea have signed Portugal forward Joao Felix from Atletico Madrid on a loan deal until the end of the season, both clubs said on Wednesday.
Chelsea's new signing Raheem Sterling will be a huge asset for the London club and the England forward will help shape the team, manager Thomas Tuchel said.
Midfielder Mesut Ozil has left Fenerbahce after his contract was terminated by mutual consent and joined Turkish top flight rivals Istanbul Basaksehir on Thursday.
Although the story seems to crop up every transfer window, the reactions, feelings and emotions change like the wind. Just the thought of seeing a Chelsea icon back in the royal blue at Stamford Bridge is enough to get the fans excited.
Raheem Sterling confirmed his departure from Manchester City in an emotional message to the club's fans on Wednesday.
Barcelona have reached an agreement in principle to sign Brazilian winger Raphinha from Premier League side Leeds United, both clubs announced on Wednesday.
Records continued to fall as the deadline for European football transfers (2200GMT) drew closer on Wednesday and new managers at some of the biggest clubs refined their squads with Chelsea set to re-sign Brazilian defender David Luiz.
When Brendan Rogers arrives at Old Trafford on Saturday, he will experience the defining game as the Liverpool manager this season.
Manchester United target Sergio Ramos has agreed to sign a new five-year contract with Real Madrid.