Over £3.5bn has been spent by clubs across Europe's top-five leagues so far this summer, with the Premier League clubs forking out just under half of that (£1.59bn), although spending by English top-flight teams is around £800m down on last summer.
The clock is ticking for the majority of European clubs, who will see their transfer windows shut on Friday, while other leagues such as the Saudi Pro League are open until October 6.
Here, Sports Mole takes a look at some of the high-profile deals that could be completed before the summer transfer window slams shut.
Sterling, Chilwell set for Chelsea exits?
There could be plenty of movement for a number of England internationals in the final few days of the window and two of those names could be Chelsea's Raheem Sterling and Ben Chilwell, who have been told by new head coach Enzo Maresca that they will struggle for regular game time if they remain at Stamford Bridge.
Sterling has been linked with a potential move to Serie A giants Juventus, but the attacker is believed to be keen to remain in the Premier League, alerting clubs including Manchester United, Crystal Palace and Aston Villa; the Red Devils have allegedly held exploratory talks with Chelsea over a proposed move for the 29-year-old.
Chilwell, meanwhile, has not been at the forefront of transfer speculation in recent weeks, but it is understood that Man United are monitoring his situation and could make a late move for the left-back to provide extra cover for injury-prone duo Luke Shaw and Tyrell Malacia.
Chelsea 'step up' pursuit of Saudi-linked Toney amid Osimhen interest
Chelsea could use the funds generated from the departures of Sterling and Chilwell to recruit a new centre-forward, with both Victor Osimhen of Napoli and Ivan Toney of Brentford emerging as their leading targets ahead of the deadline.
Osimhen has continuously been linked with a move to the Premier League this summer amid interest from both Chelsea and Arsenal, but a big-money transfer is yet to materialise for the Nigerian as Napoli have been reluctant to accept offers below the striker's £113m release clause.
However, it is understood that Napoli - who have agreed to sign Romelu Lukaku from Chelsea - are now prepared to lower their asking price for Osimhen to allow the striker to make his desired exit. A switch to Saudi Arabia has been mooted as Al-Ahli are said to have tabled a €65m (£55.1m) package, but Osimhen is believed to be holding out for a Premier League move.
The 25-year-old, who has recorded 76 goals and 18 assists in 133 appearances for Napoli, is interested in joining Chelsea, but they have reportedly turned their attention to signing England international Toney.
Brentford's No.17 has been presented with a lucrative offer from Al-Ahli, but Sky Sports News reporter Kaveh Solhekol believes that 'there is a pretty good chance' that Chelsea's pursuit of the 28-year-old "will be successful".
Chelsea would seemingly end their interest in Osimhen, but that could open the door for Arsenal to pounce and use the funds generated from the sale of Eddie Nketiah to Crystal Palace to make their move for the Napoli marksman.
Sancho to follow McTominay out of Man United exit door?
Meanwhile, two names who are expected to leave Man United before the deadline are Scott McTominay and Jadon Sancho, who have both fallen down the pecking order under Erik ten Hag.
McTominay is reportedly set to undergo a medical in Italy ahead of a permanent transfer to Antonio Conte's Napoli, who have agreed a £25.4m deal to sign the Scottish midfielder from the Red Devils.
Sancho could potentially follow McTominay to Serie A as Man United chiefs are said to have flown to Italy to hold talks with Juventus over a deal for the 24-year-old winger.
Juve are believed to be keen to negotiate a straight loan deal for Sancho, while Chelsea have also been linked with a possible temporary move for the Englishman or even a swap deal involving Sterling.
However, it is understood that Man United would prefer to sell Sancho this summer, with the funds recouped from his and McTominay's potential sales set to go towards their £50.7m move for top midfield target Manuel Ugarte of Paris Saint-Germain, who is in the UK undergoing a medical.
Guehi in, Trippier out at Newcastle?
Newcastle United have been somewhat surprisingly inactive in the transfer market under the CEO Darren Eales and new sporting director Paul Mitchell, but they are hopeful of making at least one marquee signing before the deadline.
The name at the top of the Magpies' wishlist if Crystal Palace defender Marc Guehi, who has already been the subject of four rejected bids from the Eagles, but a recent report claims that Eddie Howe's side are close to reaching an agreement.
There is said to be a belief that Guehi's future will be resolved in the next 48 hours and Newcastle may be required to break their transfer record - which currently stands at £63m from the signing of Alexander Isak in 2022 - if they wish to recruit the England international.
While one Three Lions defender could be arriving at St James' Park, another could depart as Kieran Trippier is reportedly keen to leave this summer after losing his starting spot to Valentino Livramento, and Everton are one of a number of clubs who have enquired about the 33-year-old right-back.
Brighton to almost surpass £200m spending with Kadioglu signing?
Only Chelsea have spent more money than Brighton & Hove Albion across Europe so far this summer, and the Seagulls are showing no signs of slowing down in the transfer market as they have reportedly agreed a deal to sign Fenerbahce left-back Ferdi Kadioglu.
Brighton have moved ahead of Arsenal and Man United in the race to sign Kadioglu for £25.4m, and the Turkey international is set to undergo a medical before completing his move to the Amex Stadium.
Under the tutelage of 31-year-old head coach Fabian Hurzeler, Brighton have spent around £170m on eight new signings and have broken their transfer record twice, firstly spending £33m to recruit Yankuba Minteh before activating the £40m release clause in Georginio Rutter's contract at Leeds United.
What other high-profile deals could take place?
Juventus are reportedly on the verge of signing in-demand midfielder Teun Koopmeiners from fellow Serie A side Atalanta BC for a package totalling to €59m. The Netherlands international is scheduled to undergo a medical before penning a five-year contract.
An announcement of Liverpool's first signing of the summer is believed to be imminent, with goalkeeper Giorgi Mamardashvili set to join for around £29.5m from Valencia and head straight back on loan to the La Liga club for the 2024-25 season.
Arne Slot's side are also exploring the possibility of signing Juventus attacker Federico Chiesa, who is also wanted by Barcelona and could be available for as little as £12.8m.
One player who is set to swap the Premier League for the Saudi Pro League is Joao Cancelo as Manchester City have reportedly accepted a €25m (£21.1m) offer from Al-Hilal for the 30-year-old full-back, who is set to earn €15m per season across a three-year contract.
Meanwhile, Arsenal are believed to be willing to part ways with goalkeeper Aaron Ramsdale, who is wanted by Southampton and Ajax, as they have reached a verbal agreement to sign Joan Garcia from Espanyol.