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Around £550 million has been spent so far in January on Premier League transfers.

This is a record-breaking number - and it's expected to get even larger before the end of the day.

The last time the record was set was in 2018, when teams spent a total £430 million.

Today is transfer deadline day and teams don't have long to being in players - the Premier League deadline is today at 11.00pm. For Scottish clubs it's just before midnight.

What is the transfer window?

Once January starts, football teams have a month to put bids in for other players to strengthen their team.

Their offers can be rejected by teams, if they don't want to sell their players, if they don't think other clubs are bidding enough, or if players don't want to move clubs.

But it's the clubs' last chance to get players in before the end of the season, so the pressure is on and it can lead to some huge transfers being done!

These are just a few of the deals made so far - there's also been a lot of other transfers including for Nottingham Forest, Wolverhampton Wanderers, and Leeds United, who are all hoping to stay in the division this season.

One of the most surprising deals of the day so far is the news that Manchester City's full-back Joao Cancelo has joined Bayern Munich on loan for the rest of the season, with an option to join permanently for £61.5m in the summer.

This is despite the fact that the Portugal defender has played more minutes for City than any other defender this season!

WSL drama

The Women's Super League transfer window also closes on January 31st - at midnight for international transfers, and at 5.00pm for domestic deals.

In the WSL the big drama has been Arsenal's reported world-record bid to try to sign Alessia Russo.

The Manchester United star has scored 17 goals in 35 WSL appearances for United, and netted 10 times in 17 games for England, including four in the Lionesses' Euro 2022 triumph last summer.

Her contract with United runs out this summer, but so far the Red Devils are standing firm and don't want to sell.

Are there more deals to come?

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Currently the teams have until the end of the day to get their deals done! So we could expect some more late moves as managers scramble to get the best players together for the season.

Chelsea's mega £105.6 million bid for Enzo Fernandez has not been accepted by Portugal club Benfica yet - so we will find out soon if the team are going to make that huge purchase.

Jonjo Shelvey, who currently plays as a midfielder for Newcastle, has also been in talks with Nottingham Forest. If he does end up moving over, this will be Forest's 26th signing of this season!