January Transfer Window 2026: How It Compares & What to Expect on Deadline Day

January Transfer Window 2026: Deadline Day Looms with Big Deals Still Possible

As the January 2026 transfer window nears its close, the Premier League’s total spend stands at £325m — lower than last year’s £421m but with deadline day drama expected, that figure could rise significantly.

So far, the window has seen moderate activity, with Manchester City and Tottenham Hotspur leading the way in spending. Here’s a breakdown of how things look heading into the final hours and what moves could still happen.

How Does January 2026 Compare to Previous Windows?

• Current Premier League spend: £325m

• 2025 total spend: £421m

• 2023 record spend: £815m (boosted heavily by Chelsea’s £280m)

City top the chart again, spending £84m on Antoine Semenyo (£63m) and Marc Guehi, pushing their 12-month outlay near £450m. Tottenham follow with £47.8m, while West Ham have invested £47m to bolster their survival push.

In contrast, Liverpool, Manchester United, Arsenal, and Chelsea have largely sat out this window — a trend seen over recent years. Notably, Liverpool and Arsenal have made no January signings for three seasons straight.

Europe’s Big 5: Premier League Still Dominates

Spending in Europe’s other top leagues is modest by comparison:

• La Liga: ~£21.8m

• Bundesliga: ~£67m

• Ligue 1: ~£45.2m

• Serie A: ~£150m

That means the Premier League once again outspends the rest of the ‘big five’ combined.

While Premier League clubs run a net spend deficit (–£1.3bn in summer), Europe’s other leagues post profits (~£360m), making English clubs key players in global football economics.

Average Deal Price on the Rise

Even with fewer transfers, the average price per signing is up:

• 2025 January: £4.7m per deal

• 2026 January: £5.3m per deal

• 2025 Summer average: £9m — the highest on record

That signals clubs are spending more per player, despite financial fair play constraints.

Who Has Moved So Far?

Key Transfers:

• Antoine Semenyo – Bournemouth to Man City (£63m)

• Marc Guehi – Crystal Palace to Man City

• Oscar Bobb – Man City to Fulham (£27m)

• Brennan Johnson – Spurs to Crystal Palace (£35m)

• Conor Gallagher – Atletico Madrid to Spurs (£34m)

• Pablo Felipe – Gil Vicente to West Ham (£21.8m)

• Taty Castellanos – Lazio to West Ham (£25.2m)

Who Could Still Move Before the Deadline?

Biggest stories to watch:

• Jean-Philippe Mateta – Linked with AC Milan, Juventus, Aston Villa, and Nottingham Forest. Crystal Palace want around £40m.

• Andy Robertson – A rumored move from Liverpool to Spurs has cooled but an exit is still possible.

• Joshua Zirkzee – The Man United striker is yet to feature under Michael Carrick, with Napoli and Roma monitoring.

• Jorgen Strand Larsen – Wolves have accepted an offer, potentially clearing the path for Mateta’s departure.

When Does the Window Close?

• England & Most of Europe: Monday, 2 February, 19:00 GMT

• Extended (deal sheet): Until 21:00 GMT

• Scotland: Until 23:00 GMT

• Spain: Until 22:59 GMT