Arsenal broke their record transfer by signing Mesut Ozil from Real Madrid for £42.4m on a dramatic transfer deadline day as summer spending in the Premier League also reached a new high.
The recruitment of Germany international Ozil on a five-year deal will appease Arsenal fans who have been waiting for a big-name signing and eclipses the £15m fee paid for Russian Andrey Arshavin in 2009.
Ozil, 24, regarded as one of Europe's best midfielders, said: "I am thrilled to be joining a club of the stature of Arsenal and am looking forward to playing in the Premier League. I am particularly looking forward to working with [Gunners boss] Arsene Wenger."
Tottenham have been the biggest spenders this window having invested nearly £105m on seven new players but have lost Gareth Bale to Real for a world-record fee of £85.3m.
Marouane Fellaini's late move from Everton to Manchester United for £27.5m meant that the total gross spend by Premier League clubs from 1 July until 23:00 BST on Monday, reached £630m according to Deloitte's Sports Business Group - easily surpassing the previous high of £500m.
The midfielder had a release clause of £23.5m that expired on 31 July and on 19 August United failed with a joint bid of £28m for Fellaini and team-mate Leighton Baines.
It was not until after the deadline had passed that news emerged of midfielder Fellaini joining his former Everton manager at Old Trafford.
United failed to land a last-day deal for Athletic Bilbao midfielder Ander Herrera and it looked like it might be an unsuccessful final day for manager David Moyes, with Uruguayan right-back Guillermo Varela the United boss's solitary signing since he replaced Sir Alex Ferguson in the summer.
However, Moyes hopes to capture Real Madrid left-back Fabio Coentrao on loan, with confirmation of a deal yet to come through.
It is understood that United were also working on a deal to bring Baines to the Premier League champions but it fell through, leaving the Old Trafford club to work on a season-long loan for Portuguese left-sided defender Coentrao, 25.
Everton boss Roberto Martinez signed Gareth Barry, Romelu Lukaku and James McCarthy as the deadline concluded.
Wigan midfielder McCarthy, 22, moved to Goodison for £13m, with Chelsea forward Lukaku and Manchester City midfielder Barry joining on season-long loans.
The five completed deals were all concluded in a dramatic final half-hour of the transfer window before it closed.
Liverpool avoided the last-minute rush by earlier recruiting defenders Mamadou Sakho and Tiago Ilori for £25m while Nigerian forward Victor Moses has joined the Reds from Chelsea on loan.
Italian striker Fabio Borini left Anfield to join Sunderland on loan with former Liverpool defender Andrea Dossena, 31, also moving to the Stadium of Light from Napoli on a one-year deal.
Black Cats forward Stephane Sessegnon has moved to West Brom to join forwards Victor Anichebe, another late capture from Everton for a fee rising to £6m, and Shane Long, who remains at The Hawthorns having almost joined Hull.
Elsewhere, Aston Villa agreed a deal for Czech Republic striker Libor Kozak from Lazio for about £7m, while newly promoted Crystal Palace signed Barry Bannan from Aston Villa and defender Adrian Mariappa from Reading for an undisclosed fee.
Fellow Premier League newcomers Cardiff City signed striker Peter Odemwingie from West Brom on a two-year deal for £2.25m.
In the Championship, Queens Park Rangers boss Harry Redknapp managed to secure the loan deals of Dynamo Kiev midfielder Niko Kranjcar, Tottenham left-back Benoit Assou-Ekotto and midfielder Tom Carroll.