Raheem Sterling became the most expensive English player ever following his £49m move to Manchester City from Liverpool on Tuesday.
With more than six weeks left to go until the summer window slams shut, more transfer records could be broken as football clubs work hard behind the scenes to get their business concluded.
Below, Sports Mole has gathered the stories that recently emerged in the gossip pages.
Wednesday morning's headlines:
Manchester United explore option of Angel Di Maria, Edinson Cavani swap?
Manchester United could reportedly explore the option of swapping Argentine winger Angel di Maria for Paris Saint-Germain striker Edinson Cavani. Read more.
David de Gea 'could delay Real Madrid move until next summer due to sign-on fee'
Real Madrid reportedly promise to pay David de Gea a €5m (£3.5m) sign-on fee if he delays his move from Manchester United until next summer. Read more.
Chelsea close to sealing deal for Barcelona winger Pedro?
Premier League champions Chelsea are reportedly close to sealing a deal to sign Barcelona winger Pedro for a fee thought to be in the region of £22m. Read more.
Nicolas Otamendi's agent to meet with Manchester United?
Nicolas Otamendi's agent will meet with Manchester United officials this week, according to a report. Read more.
Victor Valdes' agent in talks over season-long Valencia loan?
The agent representing Manchester United goalkeeper Victor Valdes is reportedly holding talks with Spanish side Valencia over a possible loan move for the veteran stopper. Read more.
West Ham United move for Alex Song in doubt?
West Ham United are considering cancelling the proposed permanent move for Alex Song after the Barcelona midfielder was told he may need ankle surgery. Read more.
Report: Wayne Hennessey nearing West Bromwich Albion switch
Crystal Palace goalkeeper Wayne Hennessey is reportedly nearing a £3.5m switch to West Bromwich Albion, where he would be reunited with former boss Tony Pulis. Read more.
Max Eberl: 'Granit Xhaka will not be sold to Bayern Munich'
Granit Xhaka will not be joining Bayern Munich in the summer transfer window, according to Borussia Monchengladbach sporting director Max Eberl. Read more.
Luke Murphy pens new four-year Leeds United contract
Leeds United announce that midfielder Luke Murphy has signed a new four-year contract with the club. Read more.