With the 2015-16 Premier League season starting next weekend, clubs are frantically looking to tie up deals, while also getting rid of the unwanted.
Raheem Sterling has swapped Liverpool for Manchester City in a £49m move, while the Reds have signed Christian Benteke from Aston Villa for £32.5m and Petr Cech has made a £10m switch from Chelsea to Arsenal.
But some of the division's most high-profile names are yet to decide their future.
BBC Sport takes a look at which players last season's top six may still be targeting - and who will be shown the door.
Rumoured ins: John Stones (Everton), Baba Rahman (Augsburg)
Rumoured outs: Mohamed Salah (Roma), Juan Cuadrado (Juventus, Inter Milan)
Having won the Premier League by eight points last season, Chelsea's squad was in decent shape already and they have only added goalkeeper Asmir Begovic and striker Radamel Falcao so far.
But manager Jose Mourinho is keen to reinforce his defence, with a deal for Augsburg left-back Baba Rahman reported to be close, while Everton centre-back John Stones is still being pursued after an initial bid was rejected.
Rumoured ins: Kevin De Bruyne (Wolfsburg), Paul Pogba (Juventus)
Rumoured outs: Edin Dzeko (Roma)
City have brought in three Englishmen to increase their homegrown quota. A huge £49m went on Liverpool's Raheem Sterling - a record for an English player - while Fabian Delph and Patrick Roberts have also arrived from Aston Villa and Fulham respectively.
But will these additions enhance their chances in the Champions League? Big money moves for Wolfsburg's former Chelsea winger Kevin De Bruyne and France midfielder Paul Pogba from Juventus have failed to materialise...yet.
Rumoured ins: Karim Benzema (Real Madrid), Fernando Llorente (Juventus)
Rumoured outs: Joel Campbell (Palermo)
Arsene Wenger's acquisition of goalkeeper Petr Cech from rivals Chelsea looks to have turned Arsenal into genuine title contenders this season - but it is the only purchase the Gunners have made in the transfer window so far.
Wenger wants to add a player who can provide competition for striker Olivier Giroud and a deal for Real Madrid's Karim Benzema is reported to be likely.
Rumoured ins: Pedro (Barcelona), Jasper Cillessen (Ajax), Zlatan Ibrahimovic (Paris St-Germain)
Rumoured outs: Angel Di Maria (Paris St-Germain), David De Gea (Real Madrid), Javier Hernandez (Tottenham)
Manchester United acted fast in this year's window, sealing a £31m move for Netherlands forward Memphis Depay in May, before bolstering their midfield with the signings of Germany international Bastian Schweinsteiger from Bayern Munich and France's Morgan Schneiderlin from Southampton in July.
But it is potential departures which have dominated back pages recently, with goalkeeper David De Gea a Real Madrid target and club-record signing Angel Di Maria nearing a switch to Paris St-Germain.
Fans' feelings would be mixed on Di Maria's exit, but there is no doubt losing De Gea would be a huge blow to Louis van Gaal as his side return to the Champions League.
Rumoured ins: Saido Berahino (West Brom), Sven Bender (Dortmund), Ashley Young (Manchester United), James McCarthy (Everton)
Rumoured outs: Emmanuel Adebayor (Aston Villa), Roberto Soldado (Dortmund, Sevilla), Aaron Lennon (Everton)
By their own standards, it have been a quiet summer for Spurs, the biggest signing being Belgium defender Toby Alderweireld from Atletico Madrid.
Should Emmanuel Adebayor and Roberto Soldado depart, it leaves them short up front and boss Mauricio Pochettino may target England Under-21 international Saido Berahino from West Brom.
The north London side are also reportedly keen on Manchester United winger Ashley Young, who is into the final year of his Old Trafford contract.
Rumoured ins: Lucas Digne (Paris St-Germain), Adama Traore (Barcelona), Asier Illarramendi (Real Madrid)
Rumoured outs: Mario Balotelli (Bologna, Lazio), Fabio Borini (Torino)
Manager Brendan Rodgers has spent big in this window and is "under pressure" to deliver a trophy, according to former England captain Alan Shearer.
Rodgers has pinned his hopes on Brazil forward Roberto Firmino - a £29m signing from Hoffenheim - and Aston Villa striker Benteke get his side back into the Champions League.
The Northern Irishman has reportedly told striker Mario Balotelli that he has no future at the club and the Italy international was left out of their pre-season tour, along with Fabio Borini and Jose Enrique.
What about the rest?
Six English clubs have broken their record transfer fee this year, as the halfway point in the 2015 summer transfer window passes.
Manchester City have brought in Sterling, but Premier League new boys Bournemouth and Watford - by their own standards - have also gone big. The Cherries spent £8m on Ipswich's Tyrone Mings and Etienne Capoue joined the Hornets for a reported £6m fee.
Elsewhere, Crystal Palace have broken their record for the second year running with their £10m signing of Yohan Cabaye, topping the £7m they paid for James McArthur from Wigan in 2014.
New Newcastle boss Steve McClaren has spent around £36m on three signings, and the former England boss is reportedly considering taking a punt on League Two striker Ivan Toney.
Leicester City have been linked with Chile's Charles Aranguiz, while Napoli's Gokhan Inler has also been mooted as a possible midfield target. Aston Villa have been active with nine deals completed and more could follow for them and the rest.
The transfer window closes on Tuesday, 1 September at 18:00 BST.
For all the latest deals, Sportsday has live confirmation as they happen during the week, and to find out what the back pages are saying, read our gossip column.