Gareth Bale has moved to Real Madrid from Tottenham for £85m and was unveiled at the Bernabeu today in front of thousands of screaming fans.
But Real's German playmaker Mesut Ozil could be on his way to the UK after Arsenal agreed a £42.4m deal for him.
And Liverpool have signed central defenders Mamadou Sakho and Tiago Ilori for a combined fee of about £25m.
The transfer deadline is 11pm tonight so there'll be more business done before that.
Frenchman Sakho comes to Liverpool from Paris Saint-Germain, for about £18m. He is manager Brendan Rodgers' most expensive signing of the summer and can play in the centre of defence as well as at left-back.
London-born Ilori, 20, comes from Sporting Lisbon for £7m. He's represented Portugal at youth level but is still eligible to play for England.
Liverpool's third signing of the day is Chelsea' Victor Moses on loan.
Elsewhere, West Bromwich Albion have signed midfielder Morgan Amalfitano on a season-long loan from Marseille.
Stoke City have signed Austria winger Marko Arnautovic for an undisclosed fee from German club Werder Bremen.
Outside the Premier League, Brazilian superstar Kaka has left Real Madrid and rejoined former club AC Milan on a free transfer.
The full list of today's transfers [updated at 16:45]:
Morgan Amalfitano [Marseille - West Brom] Loan
Marko Arnautovic [Werder Bremen - Stoke] Undisclosed
Hamza Bencherif [Notts County - Plymouth] Free
Harry Bunn [Manchester City - Sheffield United] Loan
Graham Cummins [Preston - Rochdale] Loan
Florent Cuvelier [Stoke - Sheffield United] Undisclosed
Tiago Ilori [Sporting Lisbon - Liverpool] £7m
Brian Jensen [Burnley - Bury] Free
Kaka [Real Madrid - AC Milan] Free
Genseric Kusunga [FC Basel - Oldham] Free
Emmanuel Mayuka [Southampton - Sochaux] Loan
Victor Moses [Chelsea - Liverpool] Loan
Dany N'Guessan [Millwall - Swindon] Free
Abdul Razak [Manchester City - Anzhi Makhachkala] Loan
Jamie Reckord [Wolves - Plymouth] Loan
Mamadou Sakho [Paris St-Germain - Liverpool] £18m
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