Real Madrid make Bale world's most expensive footballer as transfer deadline day arrives

Real Madrid have paid €100m (£85.2m) to sign Gareth Bale from Tottenham Hotspur, making the Welshman the most expensive player in the history of the game.

After the protacted transfer finally came to a conclusion on Sunday evening (1 September), the club announced the news shortly after their 1-0 defeat to Arsenal in the North London derby.

Spurs had initially attempted to hold onto their prized asset, but chairman Daniel Levy and manager André Villas-Boas eventually conceded that the 24-year-old should be allowed to achieve his dream of playing for Real. In so doing, Levy negotiated a world-record fee, surpassing the £80m Real paid Manchester United for Cristiano Ronaldo in 2009.

Whilst the Bale saga ran on, Spurs spent more than £100m bringing in seven players during the summer transfer window - Roberto Soldado, Paulinho, Etienne Capoue, Nacer Chadli, Vlad Chiriches, Erik Lamela and Christian Eriksen all arrived in impressively handled transfer deals.

It has been a busy summer of business and changes for the club with Scott Parker, Steven Caulker, Tom Huddlestone and Clint Dempsey sold, while William Gallas and David Bentley were among a group of out-of-contract players to be released.

Their north London rivals Arsenal meanwhile have come under considerable pressure to spend similarly large sums to boost their depleted squad. So far, only the free transfer signings of striker Yaya Sanogo, 20, and returning midfielder Mathieu Flamini, 29, have been completed despite early hints from the club of a major summer investment.

The Gunners may yet benefit from Bale's sale, with Real possibly seeking to recoup some of their financial outlay. Arsenal have interest in Real's German playmaker Mesut Ozil and their Argentinian winger Angel di María.

In what is expected to be a busy final day of the transfer window, which closes this evening (2 September), Liverpool have been first out of the blocks with the signing of defenders Tiago Ilori from Sporting Lisbon and PSG's Mamadou Sakho. The club has also confirmed that Victor Moses has been secured on a season-long loan from Chelsea.

More news to follow.