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"Football's Gone Round the Spend!" screamed The People newspaper one Sunday in July 1995. It reported breathlessly that three clubs between them were set to pay out more than £20m on new players.
The highlight that summer was the transfer of Stan Collymore from Nottingham Forest to Liverpool for a British record fee of £8.5m.
That number might not seem too impressive today, in an age when £100m transfers are almost commonplace. But at the time it was seismic stuff, and it symbolised the conversion of football from sport into big business.
All of this had been made possible in the early 1990s by the creation of the Premier League, and its initial TV deal with the broadcaster Sky, which paid more than £300m for five years of rights. The agreement put live top-tier football behind a TV paywall for the first time.