For the first time in Premier League history, the total expenditure in one transfer window surpassed the £1billion mark after Arsenal secured the signing of German defender Shkodran Mustafi.
The Gunners are believed to have spent £35million on the centre-back, who joins from Spanish giants Valencia, which pushed the total spending by Premier League clubs to over the billion mark.
Last season's summer window set the new record at £859million, but this season's spending, which still has a day to go, has already well exceeded that of last year.
Manchester United's world record £89.3million transfer for Paul Pogba was one of the main contributors to the spending, as was the fact that no less than 11 Premier League sides broke their club record transfers over the months of July and August.
The spending is set to continue as the transfer window enters its final day with several clubs still eyeing last-minute deals to strengthen their squads before the window shuts at midnight.
Chelsea are one of those teams, as they are reportedly looking at bringing back defender David Luiz from PSG for £30million.
The Brazilian left two years ago in a £50m deal, but Luiz is believed to be keen on a return.