It’s been a quiet January transfer window in the Premier League so far, with most teams restricted from splashing too much cash due to a major crackdown on teams breaching financial rules.
Under the PL’s Profit and Sustainability Rules (PSR), clubs post a maximum loss of £105 million ($134m) over three seasons – on a rolling basis but only if they have secure funding from their owners. Otherwise the three-year limit on losses is just £15m.
The Premier League hit Everton with a 10-point deduction last November due to breaching the rules, and both Everton and Nottingham Forest are facing further punishments after the Premier League released a statement this month saying both clubs admitted going over the limit.
The two sides will argue they had mitigating factors and should be excused.
But all Premier League clubs are now more wary than ever of breaching the rules, knowing that there is a very real threat of significant punishment.
It’s had a major dampening effect on the transfer window, with far fewer big-money deals than 12 months ago, when a staggering £700m-plus was spent – one third of it by Chelsea.
So far this window, only £50m has been spent by Premier League.
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Arsenal, Chelsea, Liverpool, Manchester United, and Newcastle United have each made no signings this window.
Manchester City signed teenage Argentinian midfielder Claudio Echeverri from River Plate, but he won’t move clubs until the end of the season, while they also added another teen to their academy in Alex Alcala from LA Galaxy’s reserves.
Ange Postecoglou’s Tottenham has been the most active top club so far, signing former Chelsea flop Timo Werner from RB Leipzig on a loan move with an option to buy at the end of the season.
They also landed their top defensive target in 21-year-old centre-back Radu Dragusin.
But the transfer window often ends with a flurry of activity, and this year will surely be no different.
The Premier League transfer window slams shut at 11pm local time (GMT) on February 1. That’s 10am on Saturday morning AEDT.
The transfer window shuts that same day in Germany (5pm GMT), Italy (7pm), France (10pm), and Spain (11pm). And the Saudi Arabia window closed on Wednesday, meaning no players can be offloaded to that country.
But here’s what major deals could still be done before the window shuts in England.
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ANTONIO NUSA
Teenage winger Antonio Nusa was on the brink of signing for Brentford for 25 million pounds, with the Bees to loan him back to Club Brugge for the remainder of the season.
But multiple reports claim complications have potentially stalled the deal, and could open the door to rial clubs.
Tottenham were interested in the player back in the off-season, according to Sky Sports, and were then in talks with Brugge over a deal earlier this month, which also would have seen him stay with his current club until the end of the season.
Chelsea have also been linked to the Norway international, who has already played 28 times this season with four goals and three assists.
Brentford have already signed three players this window, and are one of many clubs like Brighton, Arsenal and Fulham, interested in Leicester’s Kiernan Dewsbury-Hall – but the Foxes don’t want to sell their 25-year-old midfield star.
A £30m valuation has been placed on the key player, but Leicester manager Enzo Maresca says he doesn’t want to lose a player who scored the opener in Leicester’s 3-1 win yesterday.
“I don’t want Kiernan to go – ask the club if we need to sell or not,” said Maresca.
“The only way we can do something is to sell players. I don’t think that Kiernan’s future was about this game. Kiernan is a Leicester player, hopefully he can play in the next game.
“Here, he showed once again he is in love with the club, if something will happen now, I don’t know.
“He cares about the club and he has 10 goals this season, probably for the first time in his life, these kind of things, people don’t give the right importance to and it’s not a good thing.”
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THE THREE CHELSEA STARS UP FOR GRABS
Speaking of Chelsea, their sky-high spending in the last year has put them something of in a financial bind, requiring the sale of players if they are to sign any fresh faces.
The Blues want a new striker – Callum Wilson (Newcastle)and Jhon Duran (Aston Villa) have been the strongest rumours – but can’t do so unless they can find a buyer for some unneeded players.
Striker Armando Broja is up for sale, and there’s plenty of interest – but not at Chelsea’s asking price of a reported £40m to £50m.
Wolves had a loan bid rejected, with Chelsea likely looking for any loan deal to include a purchase option.
Fulham are also interested, but would probably need to sell a player of their own (like Carlos Vinicius) and even then would probably struggle to afford a lofty fee for the 22-year-old striker who has one goal this season.
But they could be more desperate for a deal after Raul Jimenez went off with a hamstring issue against Everton.
Fulham coach Marco Silva said today: “To be honest with you, if I expect many things before the end of the market – no – I was honest with you at the start of the window.
“If it was possible to do something we should have done it at the beginning of the market with the semi-finals and the FA Cup. The board is trying their best.”
Specifically asked about Broja, he replied: “I won’t talk about rumours and players who aren’t our players.”
Conor Gallagher, the 23-year-old midfielder who has been a key figure for the Blues this season and has at times even captained the side, is also reportedly up for sale.
The key reason behind the surprise move to offload such a valuable member of the team is that, alongside Broja, he is an academy product – and therefore any sale fee is viewed as pure profit in terms of PSR regulations.
He is also out of contract in less than 18 months, and the Blues are keen to avoid players running down their contracts and leaving for free.
But Gallagher reportedly does not want to leave his boyhood club, especially with the chance to play in the league cup final against Liverpool looming next month.
Ange Postecoglou’s Spurs, in need of midfield reinforcements, have long been interested in the player.
They offered £35m in the off-season, while West Ham reportedly had an offer of £42m including bonuses rejected, both falling short of Chelsea’s £50m valuation.
Tottenham are also on a tightrope when it comes to PSR, and would probably need to sell a player – likely Denmark international Pierre-Emile Hojbjerg – to afford Gallagher.
Gallagher would be an upgrade on Hojbjerg when it comes to fitting in Postecoglou’s style, but the latter reportedly does not want to leave mid-season and has already turned down a move to Lyon.
His lawyer said recently: “The player never asked to leave now.
“He’s very ambitious for Tottenham and Denmark, [and] continuing to keep improving himself, like he did all his career. His only focus is Tottenham to finish the season well and to help as much as possible.”
The Times claims Spurs are preparing to launch an official bid for Gallagher, but it might be too hard to get a deal done in time.
As Ange Postecoglou said of Spurs making any more signings this window: “Unlikely, I’d say. I don’t see any incomings.”
And there is another Chelsea academy graduate up for sale – defender Trevoh Chalobah.
TeamTalk reported recently that, once again, it’s Chelsea’s price that is scaring off approaches from rivals.
Fulham, Nottingham Forest and Crystal Palace are all reportedly interested in the 24-year-old, but a deal remains unlikely unless Chelsea lower their £25m demands.
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BENZEMA DEAL OFF BUT OTHER SAUDI STAR COULD LEAVE
Former Ballon d’Or winner Karim Benzema has been in Saudi Arabia for just half a year and captains Al-Ittihad, but was already reportedly looking to exit the club.
Chelsea and Arsenal were both interested in the former Real Madrid striker, who deleted his Instagram profile recently after copping plenty of criticism over his performances this season – despite 12 goals in 20 appearances for Al-Ittihad.
And another of his former clubs, Lyon, also strongly pursued a deal this month.
But multiple reports have said the 36-year-old will remain at his Saudi Pro League club, where he still has two and a half years remaining on a big-money contract.
Another star stranded in Saudi Arabia is Jota, who starred at Celtic under Ange Postecoglou.
The 27-year-old Portuguese attacker kept for Al-Ittihad for about £25 million in July, but has endured a torrid time – and has since been cut from the squad since the SPL has a cap on the number of foreign players in a team (eight max).
West Ham are keen to sign him on loan, but there’s a major tax issue complicating the move, centring around Jota’s earnings on his £200k per week deal in Saudi Arabia.
Spurs were interested earlier in the window but a move looks unlikely, while the Hammers are still hopeful that the tax issue can be resolved and a deal can be sealed.
There has been one big player heading to Saudi Arabia – 35-year-old former Barcelona star Ivan Rakitic has done a deal to leave Sevilla for Al Shabab.
But Newcastle’s Miguel Almiron will not be joining him in Al Shabab, after personal terms could not be agreed.
Coach Eddie Howe said today: “Yes, I’m confident that he will stay now. And I’m delighted because he’s such an important player.”
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WHAT OTHER BIG DEALS COULD GET DONE?
Aston Villa’s Jacob Ramsey is in hot demand – but is likely to remain despite plenty of interest. Newcastle United, Tottenham and Bayern Munich are all reported suitors.
Borussia Dortmund and USMNT star Giovanni Reyna is struggling for minutes in Germany, and The Athletic reported that Nottingham Forest are pushing for a loan move for the 21-year-old star.
