Premier League clubs are expected to spend "significant" amounts in the remaining days of the summer transfer window, say business analysts Deloitte.
English top-flight sides spent £900m up until 31 July, needing another £530m worth of purchases to break last year's record of £1.4bn for a single window.
Liverpool have paid £170m so far, the most of any club, including a world-record fee for a goalkeeper - Alisson.
This year's window closes at 17:00 BST on Thursday, 9 August.
The deadline has been brought forward so that clubs can complete their purchases before the start of the 2018-19 season on Friday, 10 August when Manchester United host Leicester.
However, Premier League clubs will still be able to sell players to the majority of other European clubs, whose transfer window remains open until 31 August.
With a week to go in last year's transfer window, top-flight clubs had spent a record £1.17bn on new signings.
Deloitte's Sports Business Group director Tim Bridge said: "The Premier League is the most commercially successful football league in the world.
"The fact that clubs are generating record levels of revenues - expected to reach an aggregate of £5bn across the 20 clubs in the 2018-19 season - and profits means that the level of player transfer spending is not surprising.
"Importantly, Premier League clubs are spending within their means."
Fulham outspend European promoted sides... combined
Londoners Fulham returned to the Premier League after beating Aston Villa in the Championship play-off final and have spent £58m on new acquisitions.
Fulham's total is more than the £38m spent by promoted clubs to La Liga, Serie A, Bundesliga and Ligue 1 combined.
"There is not going to be a revolution, but we must invest in people with experience to be competitive in the Premier League," Cottagers manager Slavisa Jokanovic told Marca.