Europe's summer transfer window is fast approaching and, with domestic leagues ending within a month, teams are starting to think hard about which players they want to bring in.

With most of the top leagues able to start doing business from July 1 — England's Premier League opened the 2022 window on June 10 but clubs could only sign players from domestic leagues for three weeks — it won't be long before the money starts flowing again.

In 2022, Premier League clubs broke the transfer spending record for a season in the summer window alone, spending £1.9 billion ($2.2bn) during the period, according to finance company Deloitte. The previous record of £1.86bn ($2.5bn) for a whole season was set in 2017-18, while it also beat the previous summer spending record of £1.4bn ($1.6bn) set in 2017.

So what could happen this summer? We asked some of ESPN's correspondents and writers for their predictions.

What one big deal do you expect to happen?

Alex Kirkland: Real Madrid are optimistic of beating Manchester City to the signing of Borussia Dortmund midfielder Jude Bellingham, sources have told ESPN. Negotiations have advanced and Madrid's chief scout Juni Calafat and managing director Jose Angel Sanchez have been key, while Bellingham's desire to make the move to the Santiago Bernabeu has helped Madrid maintain belief that a deal will be possible. Indeed, sources said that City's wage offer to Bellingham is larger so it down to the 19-year-old to decide. However, Dortmund's transfer valuation of around €150 million won't be met and Madrid are looking to pay around €100m with add-ons.

Whatever happens with Bellingham, Madrid will certainly try to sign a centre-forward. Karim Benzema's injury struggles — which he now appears to have finally overcome, just in time for the business end of the season — have left no doubt that Madrid need an alternative to help manage the 35-year-old's body at this stage of his career. Benzema himself, coach Carlo Ancelotti and club executives all agree that a target man is required. A single candidate has yet to emerge, with the club still weighing up a wide range of options. It's a position that Madrid have struggled to fill in the past, though. Remember spending €60m to sign Luka Jovic?

Rob Dawson: Dortmund haven't given up hope of keeping Bellingham and Real Madrid's interest is detailed above, but there is still hope at Manchester City that the England international will be wearing a blue shirt next season. He's seen what manager Pep Guardiola has done for his former teammate Erling Haaland (51 goals in 45 games) and there is no better place in the world to improve as a player and win trophies while you're doing it. Liverpool have already been put off by Dortmund's valuation and City can put together a financial package that very few other clubs can match. If City can sign Haaland, they can certainly land Bellingham.

Julien Laurens: Personally, I think Bellingham will play at the Bernabeu next season. It will be the biggest, most expensive transfer of the window. Real Madrid are still strengthening their midfield and Bellingham is the last piece of the jigsaw. Florentino Perez has the money, and for the player it is hard to turn down a club like Real Madrid.