Before last week it was widely accepted that the big spenders this summer would be Manchester City.
Now unless Mark Hughes was to buy the entire England and Spanish squads it is unlikely that any one will get close to Real Madrid's largess.
Of course Manchester City are going to buy but, if we look at the fruits of their labours in the transfer market it is highly likely that they will be seen as sensible, and possibly even boring in what they achieve this summer.
Sir Alex is not one for going crazy and spending big, but he will pick up players from unexpected places. He might even take the opportunity not to buy, proving everyone wrong in doing so.
So where will the next headlines come from?
Manchester City are still looking for proven quality in the form of Tevez and everyone knows that improvements in defense will be made with Glen Johnson seemingly on the agenda.
It seems also that Sergio Agueros advisers are stirring so that might add a few column inches to the back pages.
David Villa is a possibility for Chelsea and City as there are suggestions that Madrid may find him a player too far in terms of outlay.
The other David, Silva may land at Stamford Bridge as desperate efforts are made to keep up with Madrid and catch up to Barcelona.
But Madrid will also have to sell someone, and Wesley Sneijder may move on in order to recoup money for the club as well as finding playing time.
The biggest move still to happen though is surely that of Franck Ribery, if he does move.
There certainly isn't a shortage of money available at City or Chelsea and Man United as well, but will anyone break the bank for a great footballer who doesn't necessarily sell shirts in the way that Ronaldo or Kaka does?
It seems that Madrid have caught the headlines as well as their competitors on the back foot.
There are unlikely to be any more jaw dropping moments however, unless of course Manchester City's owners decide to make the point that they are by far and away the biggest wallets in town.
There are people who are starting to doubt whether their wealth will ever be unleashed, maybe Real Madrid have caused them to rethink the softly, softly approach.
As a City fan, I now hope that they press the go button on spending and at least cause us to dream a little more.