Premier League clubs have already spent £910m on transfers during the current window – almost twice as much as the £480m they had committed at the same stage last year.
The figures, compiled by Deloitte, lend further weight to predictions that total spending by English top-flight teams will dwarf last summer’s record £1.165bn outlay.
“The combination of record broadcast, commercial and matchday revenues continues to fuel extraordinary levels of transfer expenditure in the Premier League,” said Chris Stenson of Deloitte’s Sports Business Group.
The final tally could even break through the £2bn barrier by the time the window closes on 31 August, if this year’s business follows a similar pattern to 12 months ago.
Almost 59 per cent of the money spent by Premier League sides last summer came in the final month. A repeat of that ratio would see total spend reach £2.208bn by deadline day.
“With one month still to go, we expect this summer’s total to comfortably surpass the previous record of £1.165bn, set in summer 2016,” Stenson added.
Manchester City have been the division’s biggest spenders in this window, investing more than £200m in six signings including full-backs Benjamin Mendy and Kyle Walker and midfielder Bernardo Silva.
The biggest single fee spent has been Manchester United’s £75m signing of striker Romelu Lukaku from Everton. The deal could rise to as much as £90m depending on performances.