Liverpool signed Darwin Nunez from Benfica for $78.5 million on Tuesday.

The fee could increase up to $120 million, which would be a club record.

"I've played against Liverpool and I've seen them in lots of games in the Champions League, and it's my style of play," Nunez told Liverpoolfc.com. "There are some great players here and I think it's going to suit my style of play here."

Liverpool beat Arsenal and Manchester United to Nunez's signature.

Nunez represents the club's second signing this summer, after Fabio Carvalho.

The 22-year-old will reportedly be paid $168k per week, in line with Diogo Jota and Luis Diaz.

Arsenal have signed Benfica defender Nuno Tavares for a reported $9.5 million fee.

The 21-year-old left back will provide coverage for Kieran Tierney.

“Nuno’s arrival will give the squad extra strength and options in defence, particularly with this energy on the left side of the pitch," said Mikel Arteta.

Arsenal are also close to a deal for Anderlecht midfielder Albert Sambi Lokonga.

They have reportedly agreed to pay an initial fee of $20.7 million. 

Carles Alenas has officially signed with Getafe after making 43 appearances with Barcelona.

The deal includes a buy back option, with Barcelona also set to pocket 50% of any future transfer feel.

Reports suggest that the transfer fee was just under $6 million. 

Andre Silva moved from Eintracht Frankfurt to RB Leipzig for a reported fee of around $27 million. 

Silva has agreed to a five-year deal with Leipzig.

The 25-year-old scored 28 goals in 32 matches last season.

"I'm really excited for the new challenge at RB Leipzig," Silva said. "The club have big goals and ambitions and I want to help them achieve those, ideally by scoring as many goals as possible. I want to play at the highest level and that is Champions League football - I have the chance to do that on a regular basis at RB Leipzig."

Jean-Clair Todibo has joined Nice from Barcelona for a reported $10.1 million transfer fee.

The fee could rise to $18 million if add-ons are triggered.

Barcelona are also looking to offload Junior Firpo, Philippe Coutinho, Neto, Samuel Umtiti and Martin Braithwaite, but have yet to receive offers.

La Liga president Javier Tebas stated that Barcelona must cut their wage bill before making any new signings.

Barcelona president Joan Laporta, who has already made four signings, is looking to add four more players to the squad. 

Bayern Munich officially announced the signing of RB Leipzig defender Dayot Upamecano to a five-year contract.

The 22-year-old reportedly had a release clause of $51 million.

"Upamecano is a young player, 22, whose qualities have already developed extraordinarily," said Bayern director Hasan Salihamidzic said.

Upamecano will remain at Leipzig until the end of this season. 

Bryan Reynolds is set to join Roma on loan from FC Dallas.

Roma will then have an obligation to buy the 19-year-old defender for up to $8.5 million.

Reynolds will sign a four-and-a-half deal with Roma.

Liverpool have agreed to sign Preston North End defender Ben Davies for $2.7 million.

The 25-year-old has made 19 appearances in the Championship this season.

19-year-old Sepp van den Berg will also move to Preston North End on loan until the end of the season.

Everton have signed defensive midfielder Allan from Napoli for a reported fee of $33 million.

The 29-year-old scored 11 goals and had 16 assists in over 200 appearances for Napoli.

Allan will be reunited with Carlo Ancelotti at the club.

"It is a club with a rich history in the Premier League, has real ambition and then there is Professor Ancelotti. He has done everything possible to bring me here," said Allan.

Wolves signed 18-year-old striker Fabio Silva from Porto for a reported $46 million.

The fee breaks their previous transfer record of $35 million for Raul Jimenez.

Silva has scored 1 goal in 12 senior side appearances for Porto.

"Our head coach's requirement for quality is very high, but he thinks Fabio is an important signing who will help the team immediately this season," said Wolves chairman Jeff Shi.