Everton, Aston Villa, Chelsea and Newcastle fans might have woken up on Saturday and mistakenly thought it was transfer deadline day.

 Lesser-known academy products Tim Iroegbunam and Lewis Dobbin were exchanged in separate deals between Everton and Villa for a reported £9m each. Then BBC Sport reported Villa were close to selling another academy youngster - teenager Omari Kellyman - to Chelsea for a reported £19m.

Next, there was confirmation that going the other way is Chelsea’s homegrown Dutch defender Ian Maatsen for £37.5m, in another separate transaction.

Everton meanwhile, were also said to be interested in Newcastle United’s highly rated Gambian teenager Yankuba Minteh. At the same time, Newcastle were closing in on a deal to sign striker Dominic Calvert-Lewin from Everton.

But it wasn't 1 September, it was a normal Saturday in June. And one thing all four of these busy clubs have in common? Concerns over their Premier League 'Profit and Sustainability' (PSR) position as they approach the 30 June accounting deadline.

This flurry of transfer activity immediately drew scepticism, but has also annoyed some rival clubs.

And BBC Sport knows of at least one club that is so concerned it intends to raise the matter with the Premier League.

No-one is breaking the rules, but questions have been raised over valuations, the use of young players, and whether this has highlighted a loophole in the league’s PSR system which can be used to limit losses.