Premier League spending smashes through £1BILLION mark this summer - and there's still 23 days to go!

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Premier League clubs have smashed through the £1billion mark for summer spending - and there are still 23 days to go in the transfer window.

As reported by Sportsmail's Nick Harris, Richarlison's £11.2m move to Watford tipped the balance and confirmed the milestone figure, which is rising by the day as the window hots up.

Clubs still have plenty of work to do before the end of the month, and just £118m needs to be spent between all 20 clubs to break the all-time record.

Watford's deal for Brazilian Richarlison took Premier League spending past £1bn this summer 

Kyle Walker's arrival at City was pricey, and it is Pep Guardiola's side who have spent the most

Manchester City have contributed the most to the spend, shelling out a whopping £218m on Kyle Walker, Benjamin Mendy and Danilo among others.

Manchester United are close to the £150m mark themselves, while Chelsea complete the top three with their £130m layoff.

Two Premier League clubs are yet to spend a penny - Tottenham and Stoke - while you would expect Southampton (£5m) and Crystal Palace (£7.9m) to open their chequebooks more before the end of August 31. 

Despite Chelsea's huge spend, they are way down the list in terms of net spend after selling a number of their first-team stars.

Nemanja Matic has joined Manchester United in a deal which could rise to £40m, while Nathaniel Chalobah and Nathan Ake also confirmed their exits from Stamford Bridge.

Four clubs are yet to receive a penny for their players this summer - perhaps curtailing their spending - and plenty will look to offload before buying themselves.

Those sides are Huddersfield, Bournemouth, Brighton and West Brom - four clubs that will likely need to improve their squad to avoid a relegation battle. 

Nemanja Matic has swapped Chelsea for Man United, contributing to £40m of the spend

Just £118m needs to be spent to break the record - Palace are one club expected to buy more