The Premier League transfer window closes at 23:00 GMT on Tuesday – and there are potential deals in the works that could further extend the record fee already paid.
Around £550million was spent this month, breaking the 2018 record of £430million.
The English Football League deadline is also 11:00 p.m., while Scotland’s is 11:59 p.m.
The German Bundesliga closes at 5:00 p.m., the Italian Serie A at 7:00 p.m., the Spanish La Liga at 11:00 p.m. and the French Ligue 1 at 11:59 a.m. – also on January 31.
The Women’s Super League closes at midnight for international transfers and at 5:00 p.m. for domestic transactions.
Britain’s transfer record could be broken on January’s transfer deadline day for the first time since 2011, when Chelsea signed Fernando Torres from Liverpool for £50m.
Chelsea have offered 120m euros (£105.6m) for Benfica’s Argentinian midfielder Enzo Fernandez.
Arsenal are running out of time to sign Brighton midfielder Moises Caicedo with a £70m bid rejected.
Sean Dyche was appointed manager of struggling Everton on Monday as faces a stampede if he wants new faces.
Top-flight English clubs have spent nearly £2.5billion this season, including record summer spending of £1.9billion, well above the previous record of £1.86billion pounds sterling in 2017-18.
What has happened so far?
Chelsea have really set the pace this window as they look to get back into the top four.
Owner Todd Boehly’s Blues have spent more than £200m on seven new players, including Benoit Badiashile (£35m), Andrey Santos (£18m), Joao Felix (loan with 9, £7m), Noni Madueke (£30.7m) and Mykhailo Mudryk (£62m rising to £89m), most on long contracts.
There has been some movement from clubs above them in the table, but not much, with Liverpool capture of Dutch striker Cody Gakpo from PSV, Arsenal signing of Leandro Trossard from Brighton and Newcastle’s £45m swoop for Anthony Gordon of Everton’s most eye-catching.
There was an intriguing entry to Manchester United, with Dutch striker Wout Weghorst has been loaned by Burnley.
Naturally, there has been plenty of action from clubs whose main challenge this season is to stay in the division.
Wolves have been busy, signing forwards Matheus Cunha and Pablo SarabiaMidfielder Mario Lemina and defender Craig Dawson to boost Julen Lopetegui’s squad.
There is no slowing down at Nottingham Forest after a summer in which they signed 23 players, with Brazilian midfielders Danilo and Gustavo Scarpa, and forward Chris Wood, moving into the City Ground this month.
Leeds have broken their transfer record at signing forward Georginio Rutter and have also reached an agreement to bring in the American midfielder Weston McKennie from Juventus on an initial loan, while Bournemouth (Dango Ouattara for £20m), West Ham (Danny Ings for £12m) and Southampton (Mislav Orsic and Carlos Alcaraz for a total of £20m) have made moves.
It was a tough window for Everton, who lost the aforementioned Gordon and saw Arnaut Danjuma turns his back on them before signing for Spurs shortly after manager Frank Lampard was sacked.
What are the current transactions?
As already discussed, Fernandez and Caicedo are important transfer targets for the last day of the window.
Startling news broke on Monday that the Manchester City full-back Joao Cancelo was in talks over a loan move to Bayern Munich that could then result in a €70m (£61.5m) move this summer.
Stuttgart midfielder Naouirou Ahamada is have a medical ahead of an €11m (£9.7m) move to Crystal Palace, while the Newcastle midfielder Jonjo Shelvey speaks at Nottingham Forest on a move that would see him become the latter’s 26th signing of the season.
A number of Championship players have also been linked with Premier League moves, like Coventry striker Viktor Gyokeres, Stoke defender Harry Souttar and Sheffield United midfielder Sander Berge.