Arsenal responded to its dismal start to the season on Tuesday by signing South Korea striker Park Chu-young on the penultimate day of the summer transfer window as Manchester City was linked with the surprise capture of injury-plagued midfielder Owen Hargreaves.
Some $600 million has already been spent by Premier League clubs since the end of last season, a figure set to rise even higher as the final transfers before January are completed by 2200 GMT on Wednesday.
Arsenal has been under the greatest pressure from its fans to bolster the squad after seeing almost $100 million come in for midfielders Cesc Fabregas and Samir Nasri this month.
Now manager Arsene Wenger is starting to spend some of it after Arsenal collected just one point from its first three league matches, with Sunday's 8-2 rout by Manchester United the most goals conceded by the team since 1896.
The first of several expected deals to be completed is Park, the South Korea captain moving to north London after three seasons with Monaco.
''He will add true quality to our attacking forces and will be a valuable addition to the squad,'' Wenger said.
''Ju'' as he is known will have J. Y. Park on the back of his No. 9 shirt.
Wenger is also trying to strengthen the defense with Germany center back Per Mertesacker and Brazil left back Andre Santos.
Mertesacker was expected to undergo a medical at Arsenal on Tuesday after Germany coach Joachim Loew gave the Werder Bremen player permission to leave the national team camp to travel to London.
''Yesterday late in the evening, he came to me and told me that there was an offer (from Arsenal),'' Loew said Tuesday.
If the 28-year-old Santos leaves Fenerbahce, he will help fill the void left by the departure of Gael Clichy to Manchester City and Armand Traore to Queens Park Rangers.
Big-spending City has been one of the busiest clubs again this summer as Roberto Mancini spends Abu Dhabi owner Sheikh Mansour's cash on talent including Sergio Aguero and Nasri.
The club's biggest gamble could be about to be made by signing Hargreaves, who was released by Manchester United after four injury-restricted seasons.
Surgery on both knees restricted the 30-year-old former Bayern Munich player to just four appearances in the last three years.
The former England international was unable to find a club before the season started and posted videos on YouTube to prove his fitness.
But on Tuesday, Hargreaves was pictured going into a Manchester hospital for a City medical examination.
''People ask if it represents a gamble but the club know what they are doing, Owen knows what he is doing,'' City defender Joleon Lescott said.
''He hasn't played as much as he would have liked over the last couple of seasons but the medical team we have is very good and very strong. If we can get him fit, I'm sure it won't be very long before he is back to his best. He will be a player with a point to prove after his injuries.''
City shares the Premier League lead with Manchester United after thrashing Tottenham 5-1 on Sunday.
It was a result that exposed Tottenham's shortcomings and now the club is finalizing the signing of England midfielder Scott Parker after he handed in a transfer request at West Ham.
''I think he's what we need,'' Tottenham manager Harry Redknapp said. ''He's a good lad, great attitude.''
Despite West Ham being relegated from the Premier League in May, Parker was named Football Writers' Association Footballer of the Year.
''I need to be playing in the Premier League, especially now that I am involved with England,'' the 30-year-old Parker said.
Liverpool has completed the $11.5 million signing of Uruguay defender Sebastian Coates from Nacional de Montevideo, according to international - and now Anfield - teammate Luis Suarez.
Kenny Dalglish had already shored up Liverpool's defense by signing Jose Enrique from Newcastle and the north east club signed a replacement No. 3 on Tuesday with Italy defender Davide Santon joining from Inter Milan.
The 20-year-old fullback, who has won Serie A twice and the Champions League, signed a five-year deal at St. James' Park.
''He is a quality left-back and an established international who also gives us flexibility in defense,'' Newcastle manager Alan Pardew said.
Elsewhere, Wigan signed 29-year-old Spanish winger Albert Crusat from Almeria on a two-year contract and German goalkeeper Gerhard Tremmel, 32, joined Swansea on a two-year contract after being a free agent since leaving Austrian club Red Bull Salzburg.
