Eden Hazard's arrival from Chelsea is likely to pave the way for more big money moves to be completed by Real Madrid ahead of the 2019-20 season.
Zinedine Zidane has signalled he wants a squad overhaul in a bid to close the gap to LaLiga rivals Barcelona, with Hazard the first 'Galactico' signing of the Frenchman's second spell in charge.
Eder Militao and Luka Jovic have already sealed deals with Los Blancos and Ferland Mendy is widely expected to be next, arriving from Ligue 1 side Lyon.
There will be high-profile departures too, so how could Madrid's squad look ahead of the 2019-20 season? Omnisport takes a look at their likely ins and outs.
IN: Eder Militao, Luka Jovic, Eden Hazard, Ferland Mendy, Kylian Mbappe, Paul Pogba, Christian Eriksen, Neymar?
Militao boosts an increasingly leaky defence that shipped 46 league goals last term. Serbia striker Jovic is set to provide competition for Karim Benzema, while Hazard looks a possible heir to Cristiano Ronaldo. Rodrygo Goes is also joining from Santos.
Former coach Fabio Capello has said Madrid have €500million to spend, so Zidane can still afford to be ambitious with his targets despite those three new faces having already arrived. Lyon defender Mendy is expected to complete a move worth a reported €50m in the coming days too.
Pogba has long been linked with the club and despite being Manchester United's top goalscorer in the Premier League in 2018-19, he could be allowed to leave, while Eriksen - who has a year left on his Tottenham contract - has suggested he is ready for a new challenge.
Mbappe would be a classic Madrid 'Galactico' signing and he signalled he would be open to leaving Paris Saint-Germain when he collected both the Ligue 1 Best Player and Best Young Player of the Year prizes at the National Union of Professional Footballers' awards. Mbappe would likely cost a world-record fee, with Neymar another top-tier player potentially on the move.
The former Barca forward has reportedly failed to settle in the French capital but the signing of Hazard could scupper a Neymar switch. Even with a vast amount of cash to splash, it is hard to see Madrid bringing in four new attackers in Hazard, Jovic, Mbappe and Neymar, while PSG - regardless of doubts over their financial situation - would surely not allow both of their forwards to leave in the same transfer window.
OUT: James Rodriguez, Gareth Bale, Keylor Navas, Isco, Marcelo, Raphael Varane, Luka Modric?
The level of further spending at Madrid during the close-season will partly depend on who they can sell, with Bale a prime candidate to be moved on. Zidane's lack of trust in the Wales forward is no secret, even though Bale scored twice in last year's Champions League final defeat of Liverpool in Kiev. Bale cost what was then a world record £85m when he joined from Tottenham but his huge wages, coupled with a short list of potential suitors, could be a problem. Reports in Spain have indicated Bale is willing to see out the remaining three years of his contract.
Another key member of the Madrid team that won three Champions League titles in a row in Zidane's first spell, goalkeeper Navas is expected to be sold after last year's arrival of Thibaut Courtois, with the boss said to be keen to make son Luca his number two option with the gloves.
James Rodriguez will not sign permanently for Bayern Munich after his two-year loan deal with the Bundesliga giants expired, so Madrid have to decide whether they try and reincorporate him in their squad or find a buyer for the Colombia international. Isco seemed certain to depart when he was out of favour before Santiago Solari's sacking, while Marcelo could also be allowed to leave due Mendy's imminent signing, coupled with the breakthrough season enjoyed by left-back Sergio Reguilon.
But Toni Kroos is staying put after signing a new four-year deal with the club. PSG were linked with a treble swoop for Kroos, Isco and Bale, so the latter two players could be used as potential makeweights in a deal for either Mbappe or Neymar. Raphael Varane, who was linked with Juventus, has said he will not leave while captain Sergio Ramos denied he wanted to move to the Chinese Super League in a recent news conference. Ballon d'Or winner Luka Modric was previously linked with Inter and had a poor second half of the season.
POTENTIAL MADRID XI FOR 2019-20
Thibaut Courtois; Dani Carvajal, Sergio Ramos, Eder Militao, Ferland Mendy; Toni Kroos, Casemiro, Paul Pogba; Kylian Mbappe, Luka Jovic, Eden Hazard.