The £500m transfer fee spend record was set in 2008 but is set to be broken on Tuesday morning following the closure of this summer's transfer window.
Tottenham boss Andre Villas-Boas has led the way in the spending stakes. Spurs forked out £30m for Roma's Erik Lamela and £26m for Spanish striker Roberto Soldado. That's just two of many players that have signed up to join the Villas-Boas revolution at White Hart Lane.
Premier League club spending this window is set to surpass the £500m mark. With so many players coming to England with such high price tags it's no wonder that the transfer window in the Premier League is such big business.
Some of the most lucrative transfers to the Premier League this summer include Fernandinho to Manchester City and Willian to Chelsea - both signing for around £30m.
Dan Jones, Partner in Deloitte's Sports Business Group, told reporters: "Clubs have already spent over £400m this summer and with several large deals looking close to completion and a number of clubs still expected to do significant business, we will likely see the £500m gross record broken by Tuesday morning."
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