Chelsea have splashed the cash this month and could break the Premier League record by landing Enzo Fernandez before the transfer window closes on Tuesday.
The Blues have already spent big to bring Mykhailo Mudryk to Stamford Bridge, while Noni Madueke, Joao Felix and Benoit Badiashile are among their other recruits.
Fernandez could follow from Benfica on what promises to be a busy deadline day as clubs across Europe scramble to get late deals done.
It remains to be seen if Arsenal can tempt Brighton to part with Moises Caicedo.
Joao Cancelo looks set to swap Manchester City for Bayern Munich on loan and Paris Saint-Germain could finally seal a deal for long-time target Milan Skriniar, along with Blues ace Hakim Ziyech.
We have picked out the standout transfers that could go through before the deadline.
Blues chasing Fernandez
Fernandez emerged as a target for Chelsea following his influential displays for Argentina during their World Cup triumph in Qatar.
The London club have wasted no time in building a new-look squad since a Todd Boehly-led consortium completed a takeover and Graham Potter arrived as head coach.
They have already made huge statements this month, none more so than snaring winger Mudryk from under the noses of Premier League leaders Arsenal.
Chelsea are working on trying to secure the services of Fernandez for a reported fee of £105.5million (€120m), which would break the Premier League record of £100m City paid Aston Villa for Jack Grealish.
Caicedo a no-go?
Arsenal have already raided Brighton to bring wantaway winger Leonadro Trossard to the capital.
The Gunners have failed with big-money offers for centre midfielder Caicedo, who last week made it clear he wants to join the Premier League leaders.
Arsenal are said to be ready to test the Seagulls’ resolve again on deadline-day with a third bid of £75m, but Brighton want to keep him for the rest of the season.
If they do not get an offer they cannot refuse, Arsenal could turn to Leicester City’s Youri Tielemans or Chelsea’s Jorginho.
Cancelo heading for Bayern
Eyebrows were raised on Monday when it came to light that Bayern are poised to bring Cancelo to the Bundesliga from City.
The Portugal full-back Cancelo has fallen out of favour at the Etihad Stadium, having reportedly had a bust-up with Pep Guardiola.
A loan deal would be great business for Bayern as they hunt more trophies and this one is expected to go through.
PSG eye reinforcements
While Bayern’s move for Cancelo has come late in the window, Skriniar has long since been a target for PSG.
The Inter centre-back is only under contract at the end of the season and with the Serie A giants unable to tie him to a deal, it has been seemingly only a matter of time before he moves on.
PSG should finally get their man before the window closes, with the defender having already confirmed he has agreed terms with the Ligue 1 champions.
Chelsea winger Ziyech could also be on his way to the French capital.