Premier League clubs have broken the transfer spending record, with financial services firm Deloitte predicting the figure to have topped £1 billion when the current window closes next week.
At 4 p.m. on Thursday, shortly after Manchester City's signing of Barcelona goalkeeper Claudio Bravo was confirmed, the Premier League clubs' gross spending in the current transfer window stood at £880 million -- topping the £870m of last summer.
According to Deloitte, at the same stage last year the figure was £685mi-- £195m down on this year.
Dan Jones, partner and head of the Sports Business Group at Deloitte, said: "This is the fourth summer in a row where we have seen record-breaking spending by Premier League clubs.
"Buoyed by the prospect of increased revenue from the new broadcast deals, clubs' gross spending has now passed last year's record of £870m.
"This is particularly striking considering we still have the best part of a week to go before deadline day."
The current transfer window closes next Wednesday, Aug. 31.
Jones added: "With the third round of games in the new Premier League season to come this weekend and a number of clubs keen to strengthen with a view to competing in European and domestic cup competitions, total spending in this window will likely break the £1bn barrier for the first time."