Manchester City flexed their new financial muscle after agreeing a 32.4 million pounds (39.8 million euros) swoop for Real Madrid winger Robinho less than an hour before the transfer window shut on Monday.
City had hoped to land Dimitar Berbatov after agreeing a British record fee of over 30 million pounds for the Tottenham striker.
But with Berbatov apparently close to a move to Manchester United following talks with Sir Alex Ferguson, City persuaded Real to sell Robinho, who still has to agree personal terms with Mark Hughes's side before the 2300 GMT deadline.
The Brazilian had been desperate to join Chelsea but the Blues infuriated Real by making public their interest before a deal had been agreed and City, bankrolled by prospective new owners Abu Dhabi United Group, made their move.
A statement on Real's official website on Monday confirmed: “Real Madrid and Manchester City have reached an agreement for the transfer of Robinho.
“Real Madrid have finally decided tonight (Monday) to transfer Robson da Souza – Robinho – to Manchester City.”
Earlier Monday, Spurs started the last day of transfer activity until January by sealing their 14 million pounds move for Russia striker Roman Pavlyuchenko, while Croatia right-back Vedran Corluka also arrived at White Hart Lane from Manchester City.
Liverpool captured Spain winger Albert Riera from La Liga side Espanyol for an undisclosed fee.
The 26-year-old signed a four-year contract at Anfield after choosing Rafael Benitez's side over a host of other clubs, including neighbours Everton.
He joins Vitor Flora at Liverpool after the 18-year-old Brazilian striker, who holds an Italian passport, agreed a free transfer.
But striker Andriy Voronin and full-back Steven Finnan departed Anfield.
Voronin agreed a one-year loan deal with German side Hertha Berlin while Espanyol have moved for Finnan on a two-year contract.
Not to be outdone by their Merseyside rivals, Everton confirmed the signing of French striker Louis Saha from Manchester United for an undisclosed fee.
Saha signed a two-year deal with an option for a third year and has been joined at Goodison by Wigan keeper Carlo Nash.
Portsmouth manager Harry Redknapp signed Algerian international left-back Nadir Belhadj on loan from French club Lens.
Newcastle signed Valencia's Uruguayan midfielder Nacho Gonzalez on a one-year loan deal.
West Ham left-back George McCartney returned to Sunderland for an undisclosed fee on a five-year contract.
Blackburn strengthened their squad with the acquisition of goalkeeper Mark Bunn, 23, from Northampton on a four-year contract.
Fulham signed Coventry midfielder Julian Gray on a season-long loan, sold Collins John to NEC Nijmegen and cancelled the contract of former Chelsea midfielder Alexei Smertin by mutual consent.
Defender Danny Higginbotham, 29, rejoined Stoke from Sunderland on a three-year deal for an undisclosed fee.
Hull landed Rangers striker Daniel Cousin just 24 hours after the Gabon striker scored and got sent off in his side's Old Firm victory at Celtic.
West Bromwich Albion swooped for AZ Alkmaar defender Ryan Donk on a season-long loan deal with a view to a permanent deal.
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