Welcome to the second January 2026 edition of The Transfer DealSheet.
Our team of dedicated writers, including David Ornstein, will take you inside the market to explain the deals being worked on in this season’s winter transfer window. This includes the players who could arrive and the ones on their way out across the Premier League and beyond.
The information found within this article has been gathered according to The Athletic’s sourcing guidelines. Unless stated, our reporters have spoken to more than one person briefed on each deal before offering the clubs involved the opportunity to comment. Those responses, when they were given, have been included in the Transfer DealSheet.
In last week’s edition, we looked at Manchester United’s post-Ruben Amorim plans. In this edition, we have Ornstein’s One To Watch on Liverpool’s plans after Conor Bradley’s injury and updates on Arsenal, Chelsea, Manchester City, Manchester United, Newcastle United, Tottenham Hotspur, Barcelona and Real Madrid.
We aim to bring you analysis you can trust about what is happening at Europe’s leading clubs and the latest information we’re hearing from across the market.
This article is long but detailed, so enjoy it all — or search for the club or player you want to read about.
David Ornstein’s One To Watch
Liverpool have been hit by their latest injury setback after Conor Bradley was ruled out for the rest of this season with a knee issue he suffered at Arsenal last week.
As was seen following the losses of Giovanni Leoni at centre-back and Alexander Isak up front, there has been speculation that Liverpool might use the transfer market to bolster at right-back.
But they do not intend to sign cover for Leoni or Isak in the current window, and that is likely to be the case for Bradley, as well.
Bradley’s return will be dependent on surgery and how he recovers, and he has not yet been ruled out of the World Cup if Northern Ireland qualify. For Liverpool, the hope is that he will be back for the start of pre-season and — given the way the club operate — they would not make a permanent signing for such a period of time.
Alexander Isak is also out with injury (Justin Tallis/AFP via Getty Images)
In Bradley’s absence, Jeremie Frimpong and Joe Gomez can deputise, while Dominik Szoboszlai and Curtis Jones are able to operate there if required.
Liverpool seem to be among those keeping their powder dry for the next market, when Ibrahima Konate is on track to exit due to his contract expiring. There has been no breakthrough on new terms.
That, plus the deals of Virgil van Dijk and Gomez ending 12 months later, means the heart of defence will be an area of focus.
Similar may apply to Mohamed Salah’s position. Despite recent uncertainty, the Egypt attacker is fully expected to finish the campaign at Anfield. It will be hoped his situation then settles down and that he sees out the rest of his agreement, which runs until June 2027. However, if problems remain, it is possible conversations will take place about parting ways early.
How much have Premier League clubs spent and received so far this window?
Chris Weatherspoon
What Else We’re Hearing
- Tammy Abraham is an option, among several others, if Donyell Malen wants to leave Aston Villa (see below) and a striker is needed to replace him. However, Villa are happy with Malen and, as things stand, he will stay. There is interest in Abraham from other clubs, too. The 28-year-old is currently on loan at Turkey’s Besiktas from Italian side Roma, and their obligation to buy him has been triggered. A club-to-club deal between Villa and Besiktas would be relatively easy to do, while an agreement between the Premier League side and the player might be trickier, as Abraham is a high earner. However, Villa are not at that stage yet. Villa, as a club, are close to Abraham’s heart — he spent the 2018-19 season there on loan from Chelsea, helping them win promotion back to the Premier League via the play-offs. Manager Unai Emery is also a huge admirer — he has held a long-term interest in Abraham dating back to early in his Villa journey, with talks taking place at that point. There is a mutual affinity between the pair. There is an appetite on the player’s part for the move, but no agitation. Besiktas would be open to a potential deal, but there have only been early enquiries at this point. While a couple of other Premier League clubs are keen, they are closer to the bottom end of the table than third-placed Villa. It is likely that Abraham’s situation will develop this month, but there is no guarantee he will move to Villa or anywhere else. David Ornstein
- Villa forward Malen has received interest from multiple clubs, including Roma. As previously reported, Villa entered the window intending to sign a young striker and completed a deal for teenager Brian Madjo from French side Metz on Monday. But they will aim to bring in another forward if Malen leaves, with Abraham an option. While Villa are happy with the Netherlands international’s positive start to the season, his future will depend on the offer from suitors and, crucially, what Emery thinks. Malen, for his part, is aware of interest but, like Villa, has not yet chosen whether to stay at the club or pursue alternative options. Jacob Tanswell
- Nottingham Forest hold an admiration for Bournemouth midfielder Marcus Tavernier. The 26-year-old is on their shortlist as they look to make improvements in this window, and has been for a long time. However, Bournemouth are determined not to sell any other players this window, having already allowed Antoine Semenyo to join Manchester City in a deal worth £62.5million. David Ornstein
Malen has not decided whether to stay or pursue other options (Luke Walker/Getty Images)
- Mehdi Taremi has emerged as Nottingham Forest’s leading candidate among multiple options as they look for a new striker in this window. Taremi, 33, is the most realistic option for Forest, but that could yet change if, for example, his current club Olympiacos, suffer an injury in attack. The Iran international striker helped Inter to the Champions League final last season then moved to the Athens side in August. Forest’s owner Evangelos Marinakis is also in charge of Olympiacos. The Athletic reported last week that Taremi was part of a four-player shortlist at Forest, along with Jorgen Strand Larsen of Wolves, Roma’s Artem Dovbyk and Youssef En-Nesyri of Turkey’s Fenerbahce. David Ornstein
- Bournemouth are considering a deal to sign Alex Toth from Ferencvaros. Toth, who featured in The Athletic’s Transfer Radar, is a 20-year-old defensive midfielder who has been capped nine times by Hungary. Bournemouth face competition from other European sides for Toth. David Ornstein
- Tottenham Hotspur have agreed a deal with Atletico Madrid to sign midfielder Conor Gallagher. Atletico have accepted Spurs’s offer of €40million (£34.7m) — and the midfielder is expected to travel to England on Tuesday to undergo a medical and finalise details of a long-term contract. Aston Villa also held a strong interest in Gallagher, however no agreements were reached amid their desire to maintain financial discipline. David Ornstein
- Joel Piroe is not currently expected to leave Leeds United this month. Last season’s Championship Golden Boot winner has struggled for minutes under manager Daniel Farke in the Premier League so far. However, despite interest in his services from the continent and the UK, Piroe is determined to remain at Elland Road and prove his worth in the top flight. The 26-year-old, who last week declared he would happily play for Suriname in their upcoming World Cup play-offs semi-final against Bolivia, has only played 203 minutes in the league this season. Farke has made it clear how happy he is with his current squad and spoken specifically about the role the Dutch-born forward can still play in the club’s fight for survival. Leeds will evaluate any incoming offers this month, but the proposals would have to suit Piroe. As it stands, the No 10 has made it clear he wishes to stay and fight for his place in the second half of the campaign. Beren Cross
- The Athletic reported in last week’s Transfer DealSheet that while Bournemouth have an admiration for Jamie Leweling, Stuttgart’s lack of willingness to sell him means he is not seen as a realistic target. Leweling has now publicly indicated his desire to remain with Stuttgart. The 24-year-old attacker scored twice against Bayer Leverkusen on Saturday and told Sky DE: “We have something to achieve here as a team, and so do I. It’s nice to get offers, but I feel comfortable here playing my football.” Sebastian Stafford-Bloor
Have summer striker signings been value for money in the Premier League?
It has long been accepted wisdom in football that everyone always wants a new striker; the inevitable corollary is that it costs a lot to sign a good one.
Premier League clubs were as active in the centre-forward market as ever last summer. Using data from Transfermarkt, a website which tracks signings across the world, The Athletic found that this season’s 20 top-tier clubs brought in 23 first-team strikers in that window. Twenty of those joined for fees, totalling an estimated £812million ($1.1bn) — or £41m per player signed. Were they worth it?
It is much too early to answer that with any certainty but, on the half-season’s worth of evidence we have, we find some interesting results.
Of those 23 players, eight (so just over a third) were signed for fees of £50million or more. The money looks to have been well spent; that same cohort accounts for half of the 74 Premier League goals that the summer’s striker signings have scored so far.
That is true even though Alexander Isak, the most expensive of the lot, has contributed just two league goals since signing for Liverpool for a British record transfer fee on deadline day. Isak’s new team-mate Hugo Ekitike has been rather more successful to date at Anfield. His eight league goals are the second most of any of the strikers signed in the last window.
Ekitike is usurped by a man who cost his new club nothing in terms of a transfer fee. Dominic Calvert-Lewin arrived at Leeds United on a free after leaving Everton at the end of his contract and has scored nine league goals, proving key in the promoted club’s battle against the drop. He is not the only example of them finding value; Lukas Nmecha, another free transfer, has four Premier League goals — a better haul than 13 of the strikers who were signed for fees.
Calvert-Lewin is well-paid at Elland Road, so it isn’t like Leeds have got his goals for nothing. But the results from last summer’s striker signings are a mixed bag.
Big transfer fees help to sign effective forwards, but they might not be essential.
Chris Weatherspoon
Arsenal
What has happened this week?
The Athletic reported that Bukayo Saka has committed his future to Arsenal by agreeing a new and improved five-year deal.
His previous one was due to expire in 2027, but a fresh agreement is now being finalised. The contract will be signed and officially announced in due course.
Saka has agreed a new contract with Arsenal (Catherine Ivill – AMA/Getty Images)
Elsewhere, The Athletic confirmed that Arsenal retain their long-held interest in Crystal Palace’s Marc Guehi. The 25-year-old England centre-back, who has also been the subject of interest from Liverpool and Manchester City, can leave the south London club for free when his contract expires on June 30.
Naturally, Arsenal would be intrigued by the prospect of securing an international-class defender with Premier League experience on a free transfer.
It remains to be seen whether Guehi would be prepared to join a club where he would have to compete with the established defensive duo of Gabriel and William Saliba — and, with Arsenal’s interest more related to the summer than the current window, whether City or another club will try to steal a march by tying up a deal for him this month.
How big a boost is securing Saka for five more years?
When a player agrees a new contract, you’ll typically read phrases suggesting they’ve “ended speculation about their future”. In Saka’s case, there wasn’t really any speculation he’d leave Arsenal: it was very clear throughout negotiations that he wanted to stay.
Nevertheless, it’s still a win for the club. By tying the likes of Gabriel, Saliba and Saka to new deals, Arsenal have shown they can keep their best players — something the club’s supporters have not always been able to take for granted.
What positions/players are they looking at?
Arsenal’s squad is looking formidable right now. The return of Kai Havertz, who came on as a substitute during Sunday’s FA Cup win against Portsmouth, having not played since their Premier League opener in August, is another indication they are gearing up to finish strongly.
At present, there is no urgent need for them to enter the transfer market. But that’s not to say sporting director Andrea Berta will have the month off; Arsenal will already be drawing up plans for the summer window.
Which players could be leaving?
Arsenal are not in a hurry to allow anyone to leave this month. Now fighting for silverware on four fronts, manager Mikel Arteta will want the whole first-team squad at his disposal.
A month which includes fixtures in the FA Cup, Carabao Cup and Champions League, as well as the Premier League, should also afford those players on the fringes of the squad opportunities to feature. Ethan Nwaneri, for example, was given a start in the Portsmouth game.
James McNicholas
Chelsea
What has happened this week?
Chelsea made their first sale by deciding to cash in on highly-rated young midfielder Leo Castledine, who had scored 12 goals on loan at third-tier Huddersfield Town this season, to Middlesbrough of the Championship.
Castledine’s contract at Stamford Bridge was expiring at the end of the season, albeit there was an option to extend it by another 12 months.
As revealed in The Transfer DealSheet last week, the 20-year-old had a break clause in his Huddersfield loan that was going to expire a couple of weeks into this month. This was triggered when Middlesbrough agreed to pay a fee of over £1million, plus add-ons, for him. There is also a sizeable sell-on clause.
Other Championship clubs were keen but second-placed Middlesbrough offer the best chance among his suitors to win promotion to the Premier League and have been tracking him for some time.
Meanwhile, Caleb Wiley has returned early from a season-long loan at Watford. The 21-year-old United States international made just five appearances for the Championship club due to injury. Wiley has yet to play for Chelsea following his arrival from Atlanta United of MLS for £8.5million in July 2024. Exciting under-21 winger Ryan Kavuma-McQueen, who scored four goals for England Under-17s against their Germany counterparts in September, has signed his first professional deal to stay at the club.
Castledine has joined Middlesbrough permanently after starring on loan for Huddersfield (Pete Norton/Getty Images)
Will Rosenior be expecting to work with the players already at his disposal?
New head coach Liam Rosenior has already spoken about how decisions over signings will be collaborative and that during his spell in charge of Chelsea’s French sister club Strasbourg, who are also owned by parent company BlueCo, no player arrived who he did not want.
The 41-year-old agreed to succeed Enzo Maresca last week, and the transition has been a smooth one due to the close relationship already established with the hierarchy from his Strasbourg reign.
Talks over transfer plans have taken place, and while the thought process is geared towards recruiting in the summer, when more options are available, making signings for the first team before the deadline on February 2 is a possibility should an opportunity present itself.
What positions are they looking at?
By making an enquiry for Bournemouth’s Antoine Semenyo at the end of last month, Chelsea have already shown that signing another attacker is on their agenda this year. The Ghana international opted to join Manchester City, though.
Chelsea also want to buy a midfielder and a defender. They have players in mind, and if they can bring forward their plans to recruit them now, instead of in the close-season, the club will do so.
Which players could be leaving?
Tyrique George is now expected to leave on a permanent transfer this month. The talented England Under-21 international winger has started just two games since the end of October and has not been in any of Chelsea’s past six matchday squads. He has interest from clubs in England and on the continent.
The 19-year-old, who has scored six goals for Chelsea in 37 appearances, agreed a £22million move to neighbours Fulham on deadline day last summer, only for the move to break down in the last hour.
Tyrique George is expected to be sold by Chelsea this month (Adam Davy/PA Images via Getty Images)
Chelsea are considering recalling Ecuador international Kendry Paez from what was meant to be a season-long loan at Strasbourg. Paez has made 20 appearances but started only seven of them and has been increasingly left out of the side. A move to an English club instead is one of the options and would open up an international loan spot for somebody else.
Brazil Under-20 international Deivid Washington was earmarked for a loan away this month, but that could now be in doubt after he picked up an injury against Benfica in the Premier League International Cup last week.
As consistently highlighted, Chelsea are keen to offload Raheem Sterling and Axel Disasi this month, but nothing has progressed for either yet.
Simon Johnson
Why would Chelsea want to add another winger?
Chelsea weren’t the only side in the race for Semenyo, but their interest in the 26-year-old — a speedy, powerful winger who can strike the ball on both feet — points to a desire to add more attacking output in wide areas.
Semenyo’s blend of physicality and technique makes him effective both on the break and against lower defensive blocks; someone able to stride into open space with purpose and find the corners from distance.
It’s that flick-of-a-switch impact that Chelsea sometimes lack from their wide players. Pedro Neto is an excellent ball-carrier but shoots infrequently, and while 18-year-old Estevao has shown signs of dynamism and attacking magic, Jamie Gittens and Alejandro Garnacho have struggled to find the confidence and consistency required when given opportunities in the team.
Garnacho joined Chelsea from Manchester United in the summer (Warren Little/Getty Images)
It’s a cut-throat business, but as Chelsea look to ease the creative burden on Cole Palmer, more explosiveness from the wings seems a sensible place to start.
Thom Harris
Liverpool
What has happened this week?
Liverpool’s defensive options were further depleted by Conor Bradley suffering a season-ending knee injury against Arsenal last week. Head coach Arne Slot had previously lost young centre-back Giovanni Leoni to a torn ACL on his debut in September. Up front, record-signing Alexander Isak is recovering from surgery on a broken leg.
The Premier League champions have already been active in this window, bolstering their ranks at academy level. They completed the signing of centre-back Mor Talla Ndiaye from Senegalese club Amitie for a fee of around £1million ($1.3m). The left-footed Senegal youth international, who turned 18 last week, will start his Liverpool career with Rob Page’s under-21s squad.
Liverpool are also close to a deal for another teenage defender, Ifeanyi Ndukwe of Austria Vienna. He doesn’t turn 18 until March, so the plan is to have him on board for the start of pre-season in July. They have also signed Burnley’s 19-year-old centre-back Noah Adekoya, who will begin with Page’s under-21s, too.
Bradley suffered a season-ending injury against Arsenal (Ben Stansall/AFP via Getty Images)
Could they be tempted into moving for Guehi this window?
Liverpool have a long-established interest in Marc Guehi, having been on the brink of signing him for £35million last summer before Crystal Palace pulled the plug at the 11th hour.
Since then, senior Anfield figures have expected the England international to stay at Palace until the end of his contract in June, when they would attempt to beat off competition from a host of clubs to sign him as a free agent.
A January move hasn’t been deemed realistic, due to the kind of financial package it would take to attempt to buy a player who is out of contract in just five months. As well as agreeing a hefty price with Palace, there would probably need to be a big signing-on fee for Guehi, given the lucrative options he would have on the table if he were a free agent come the summer.
What positions/players are they looking at?
As my colleague David Ornstein reports, the loss of Bradley hasn’t changed Liverpool’s approach to this window. They were ready to move if a suitable market opportunity came up, and that remains the case. It’s still expected to be relatively quiet for the champions, especially given the record-breaking £450million spending spree last summer.
They aren’t short of cover at right-back with Jeremie Frimpong, Joe Gomez and Calvin Ramsay all capable of playing there. However, Gomez is the only senior centre-back Slot currently has as cover for starters Virgil van Dijk and Ibrahima Konate. Midfielders Dominik Szoboszlai, Curtis Jones and Wataru Endo have filled in at right-back previously.
Liverpool have a long-standing interest in Guehi (Sebastian Frej/Getty Images)
Which players could be leaving?
Juventus want Federico Chiesa on loan but Liverpool are highly unlikely to sanction a temporary move for the Italian forward this month.
Chiesa has clocked up 21 appearances for Slot this season, and there’s no appetite to offload him, especially with Isak out at least until March and Ekitike having only recently recovered from a hamstring problem.
For Liverpool to even consider doing business, there would need to be a significant permanent offer on the table, and they would need to be able to recruit a suitable replacement.
At this stage, the only departures are expected to involve youngsters heading out on loan to gain further experience. Amara Nallo is set to be among them, following the arrival of fellow defender Ndiaye. Ramsay was expected to be sent out too, but is now more likely to stay as a result of Bradley’s injury.
James Pearce
Manchester City
What has happened this week?
City finalised the deal for Antoine Semenyo, and while he stayed at Bournemouth slightly longer than people may have expected, he managed to sign off on very good terms. As The Athletic reported, City have also been able to negotiate a better financial structure for this transfer, paying £62.5million but spreading it out over two years.
Perhaps that wiggle room allows them to explore the centre-back market in light of injuries to key defenders. City are weighing up a possible move for Crystal Palace’s Marc Guehi, as per last week’s Transfer Dealsheet, with manager Pep Guardiola confirming that a new arrival is an option this month.
City also recalled Max Alleyne from a loan at Watford of the Championship last Monday, and by now the 20-year-old defender has already played two matches for the club, scoring one goal — a lot can happen quickly at this time of year.
Does the defensive crisis necessitate a new signing?
Alleyne has done well in those two matches, and while inexperienced — the games against Brighton & Hove Albion and FA Cup visitors Exeter City are his only appearances for the club — he understands the typical blueprint for what a City defender needs, as he is composed on the ball and has improved in his more traditional defensive duties.
City rate him highly, though. While a move for Guehi or anybody else would impact Alleyne’s first-team opportunities immediately, it could well be that the youngster fits into City’s longer-term plans and could benefit from changes in the summer — it is expected that John Stones and Nathan Ake will move on then.
Adding a ready-to-go option at centre-back would strengthen City’s chances of keeping up the fight with Arsenal for the title and winning the three cups that they are still in, and Alleyne may have to be patient if that comes to pass, but he might not have to be patient for too long.
What positions/players are they looking at?
Centre-back is the main area now that Semenyo has arrived to bolster the attacking positions.
Which players could be leaving?
Oscar Bobb is the most likely, given the arrival of fellow forward Semenyo and his intention to get minutes elsewhere. It would be a pretty abrupt and equally disappointing transfer were it to materialise, as the 22-year-old looked set for a breakout season 18 months ago, only to break his leg on the eve of that 2024-25 campaign.
He is injured again now and had struggled for form this season, as well as looking short of confidence at times. However, he is a player with a lot of talent and potential, and would surely represent a good bit of business for anybody able to sign him.
Sam Lee
Manchester United
What has happened this week?
As expected, there have been no talks on player recruitment this week. United had been in discussions with both Michael Carrick and Ole Gunnar Solskjaer about the possibility of them taking over as caretaker manager for the remainder of the season. This morning, David Ornstein has reported that United have reached an agreement in principle to appoint Carrick as interim head coach.
These conversations have not led to any changes in transfer plans. It remains the case that United will only move for targets should long-term ones become available or if they need to act to stop a rival taking the lead in the chase for one of the players they are monitoring.
As it stands, and although in the transfer window things can change very quickly, there is no movement on the player-incoming front. They could move for replacements if others leave or if any serious injuries occur in the coming weeks.
Given current form and the FA Cup exit, is this squad capable of achieving their goals?
Well, they don’t need extra players to deal with all the remaining games, do they?
United will now play just 40 games in total this season — their least in 111 years. That means they have just 17 games remaining this season, all in the Premier League.
These 17 games are important because United are currently just three points off Liverpool in fourth place and a point behind Brentford in fifth, the latter of which is likely to be enough for a Champions League spot next season. Interim head coach Darren Fletcher implored United not to “waste” the season in his post-match press conference following Sunday’s defeat by Brighton in the FA Cup and told the players that Champions League qualification is still there for them.
It would certainly be beneficial for United to bolster their midfield options to boost their hopes of finishing in the top five. That is an area that will be looked at in the summer, but the club are not prepared to sign someone now as a stopgap.
United have a squad capable of winning enough of their remaining games to qualify for Europe, especially once Bryan Mbeumo, Amad and Noussair Mazraoui return from Africa Cup of Nations duty. Will they win enough of them? Well, that remains to be seen.
What positions/players are they looking at?
As mentioned, midfield is a position of priority. Yet United showed with their pursuit of Antoine Semenyo that they will look at other areas if targets are on the move.
They plan to sign two midfielders in the coming windows. As reported by David Ornstein in the Transfer Radar, Elliot Anderson is a first-choice target, but Nottingham Forest have no intention of selling and there will be competition for him from Premier League rivals.
Adam Wharton has also got admirers at Old Trafford but, like Anderson, has plenty of clubs monitoring and ready to pounce should Crystal Palace entertain any offers. United held talks, via intermediaries, with Brighton & Hove Albion last summer over Carlos Baleba but, at this stage, there is no progress on a move.
Talks were held via intermediaries for Baleba last summer (Warren Little/Getty Images)
Which players could be leaving?
There are no plans to sell or loan out first-team regulars after the departure of head coach Ruben Amorim.
Napoli of Italy retain an interest in Kobbie Mainoo and have been waiting to see if Amorim’s sacking would change the player’s stance, which was that he would be interested in exploring a loan move to give himself a chance of a late run for selection in England’s World Cup squad. Amorim’s exit could soften that stance but it remains to be seen how Mainoo will fit into the chosen interim manager’s plans for the remainder of the campaign and if he will play regularly again.
United have also not entertained any negotiations with Roma over Joshua Zirkzee. The feeling before Amorim’s departure, as reported by The Athletic, was that once players returned from AFCON, then former Bologna forward Zirkzee may have been allowed to return to Serie A. Now, Roma do not expect him to be available this month.
Midfielder Toby Collyer is wanted on loan by Hull City this month, but they are not the only Championship club interested. Hull are under a transfer embargo, so they cannot pay a loan fee, but that won’t block a move if United decide they are the best place for him to spend the second half of the campaign.
Collyer opted to move to West Bromwich Albion in the same division last summer over joining Hull after talks with then-loans manager Jonny Evans, who previously played with the West Midlands club. United’s focus is on getting the midfielder fit after his disappointing loan spell at The Hawthorns was cut short by a calf injury.
Another midfielder, Sekou Kone, is spending some time with INEOS-owned Lausanne in Switzerland, with the possibility of a loan. The 19-year-old suffered a horrific head injury in a National League Cup game against Tamworth in August and has been working on getting back to full fitness.
No decision has yet been made on left-back Harry Amass, who is having some time off after his loan spell at Sheffield Wednesday came to an end. The player could still return to Hillsborough, but other Championship clubs, including Stoke City, are keen.
Chris McKenna
Newcastle United
What has happened this week?
Newcastle have continued to add to their already hectic fixture list by winning and progressing in competitions, but they have also continued to lose defenders to injury, too.
Fabian Schar is set for months on the sidelines recovering from the ankle injury he suffered against Leeds United last Wednesday, although he is expected to return to action before the end of the season. Tino Livramento picked up a hamstring problem as Newcastle advanced beyond Bournemouth in the FA Cup on Saturday, and the extent of the right-back’s potential absence is yet to be determined.
That third-round victory also came at a more general physical cost to those involved, with Newcastle forced to play for 120 minutes and then go through the stress of a penalty shootout, barely 72 hours before hosting Manchester City in Tuesday night’s Carabao Cup semi-final first leg.
Eddie Howe, the head coach, has repeatedly described Newcastle’s approach to this window as adopting a “watching brief”. As the injuries to the back line pile up — with only four senior fit out-and-out defenders available in Malick Thiaw, Sven Botman, Kieran Trippier and Lewis Hall, even if midfielder Lewis Miley has filled in impressively at both full-back and centre-half — the pleas from supporters for reinforcements to be signed only grow louder.
Elsewhere, Newcastle are once again searching for an under-21s coach. Adam Lawrence, the former Manchester United Under-18s coach, unexpectedly stepped down on his own accord on Sunday after only four months in the role.
Tino Livramento suffered an injury against Bournemouth (Stu Forster/Getty Images)
With Schar out injured, will Newcastle have to dip into the market?
“Have to” is too definitive. Many supporters would argue that is the case, but Newcastle’s position is more nuanced.
There is a clear desire to support Howe and ensure he has the squad depth to navigate this marathon campaign, yet there is also a desire to avoid making a short-term signing with potentially long-term consequences.
Financially, although Newcastle are under no PSR (the Premier League’s profit and sustainability rules) pressure to sell this month, having invested an initial £241million on five permanent signings last summer, they are still in a position where any further expenditure now affects what they can do in summer 2026 and beyond.
Should the ‘right player’ be available at a reasonable price, Newcastle would be willing to make an addition. But there appears to be a determination not to recruit someone permanently who they do not believe is the correct fit.
A versatile defender is top of Newcastle’s potential wanted list, with the ability to play both left-back and centre-half considered ideal. Schar’s injury means they are also short of options at right-sided centre-half, too, and that position was already being looked at for strengthening in the summer.
Dan Burn is due back within a fortnight, and Emil Krafth may return within a month, so their prospective availability may ease the situation somewhat. Yet should Newcastle continue at their present rate of losing a defender every time they play a game, the need for an addition will surely become compelling.
What positions/players are they looking at?
Left-back is the priority, though someone with the ability to also play centre-half would be preferred.
French club Toulouse’s Dayann Methalie, a versatile left-back-cum-centre-half, is among several players being tracked across Europe. The 19-year-old has admirers inside St James’ Park, but he has undergone knee surgery that will keep him out for a month, and Newcastle have not formalised any interest yet.
Matt Targett, who is on loan at Championship neighbours Middlesbrough, has a recall clause in his contract, but that stipulation expires before the end of January, and Newcastle must decide whether they will bring the 30-year-old defender back or allow him to finish the season on Teesside.
Beyond full-back, midfield is the area Newcastle would be most keen to strengthen should a long-term target prove attainable for a reasonable price — though it would also require Joe Willock to leave for that to happen. Kees Smit, of Dutch side AZ, is well-liked, though a move for the 19-year-old this month is appearing unlikely, and there are other young, creative midfielders that the club have been tracking.
Newcastle are tracking Dayann Methalie, right, of Toulouse (Alex Martin/AFP via Getty Images)
Which players could be leaving?
Jamaal Lascelles is in a curious position. The club captain is available for transfer, despite Newcastle’s defensive injury problems.
The 32-year-old has only made two substitute appearances this season, the most recent of which came against Arsenal on September 28, and he has not featured in a matchday squad since November 9.
Howe said on Friday that Lascelles is currently unable to train with his team-mates because he does not “feel well” in his own body. He is not injured, though, and Newcastle would be willing to allow him to leave this month in search of regular minutes after over 11 years at the club.
Willock has entered the final 18 months of his contract and has attracted Premier League interest, though Newcastle have not received a bid yet, and it seems more likely he will stay at this stage.
Newcastle will look to get first-team experience for some of their promising youth players on loan, with Sean Neave, the 18-year-old forward, Leo Shahar, a right-back of the same age, and Alfie Harrison, the 20-year-old midfielder, among those who may potentially depart. Defender Alex Murphy, 21, is now unlikely to be farmed out, given Newcastle’s injury situation.
Chris Waugh
Would Smit suit the Premier League and Europe’s top sides?
Smit is comfortable playing under pressure, and his jinking, evasive movement and line-breaking passing have made him a hot commodity. He has drawn comparisons to Barcelona midfielder Pedri from his Netherlands head coach Ronald Koeman.
That ability to spin away from danger and release the ball quickly helps AZ progress swiftly through the thirds. But Smit is not content to simply set moves in motion. He regularly continues his run, looking to reappear in the final phase. The map below charts his “give-and-gos” — SkillCorner’s term for an attacking run made within two seconds of playing a pass — illustrating his eagerness to receive the return around the edge of the box.
With just two goals and two assists in the Eredivisie this season, Smit is not the one finishing moves, but the one igniting them.
Aged just 19 (he turns 20 this month), he might not be physically ready for the rigours of elite-level football, but from a technical and game-intelligence perspective, it is easy to see why the demand is so high.
Conor O’Neill
Tottenham Hotspur
What has happened this week?
At first, not a lot. Most of the movement this week was concerned with loans for younger players: Yang Min-hyeok, 19, was recalled from Championship strugglers Portsmouth and sent to the division’s leaders Coventry City, Alfie Dorrington, 20, is back from his spell with Aberdeen of Scotland’s top flight and Oliver Irow, 19, was farmed out to Mansfield Town of third-tier League One.
But the need for signings has become greater, with new injuries to Mohammed Kudus and Rodrigo Bentancur further reducing the number of experienced players available to head coach Thomas Frank. Spurs played twice this week, losing away to Bournemouth in the Premier League and then getting knocked out of the FA Cup at home by Aston Villa, further underlining how badly recruits are required.
Kudus suffered an injury against Sunderland and will be out for weeks (Julian Finney/Getty Images)
On Monday, David Ornstein revealed that Spurs have agreed a deal to sign Atletico Madrid midfielder Conor Gallagher. Atletico and Spurs have agreed deal worth €40million (£34.7m). Gallagher will travel to London on Tuesday to undergo a medical.
How concerned would fans have been by the lack of signings?
Significantly. Spurs supporters have certainly been worried by the form of the team so far this season, and many have been left hoping that the transfer window would see the club bring in some high-level players to bolster a squad that has struggled so far under new boss Frank.
The fact that this has been the first window since Daniel Levy’s dismissal as chairman in September has added extra pressure on the hierarchy to deliver. Until Monday’s move for Gallagher, there has been nothing significant to show for it.
On Friday evening, the Tottenham Hotspur Supporters Trust (THST) issued a statement about the condition of the club, which ended with a reference to the window, “in which all the stops need to be pulled out” in order to demonstrate their seriousness. Fan group ‘Change for Tottenham’ has also announced a protest for Saturday’s Premier League game against West Ham, mentioning the “growing frustration within the fanbase surrounding the board’s transfer strategy” in a statement released on Sunday night.
Signing Gallagher might sate the fanbase for now. A midfielder who can set the tempo and drive forward is what they are desperate for.
What positions/players are they looking at?
Central midfield would have been a priority at the start of the window, but the news of Bentancur’s hamstring injury — which will likely need surgery — made it even more of a need. Joao Palhinha and Archie Gray would be the first-choice pairing otherwise, with Lucas Bergvall currently also missing and Pape Matar Sarr still away at the Africa Cup of Nations.
Gallagher fills that gap, bringing in many of the football qualities Spurs need right now but also some of the mental qualities and experience.
Beyond that, the degree to which they require another striker will largely depend on Dominic Solanke’s continuing return from injury and how long Richarlison is out for after he went down against Villa.
Thomas Frank has had his options reduced by injury (Ryan Pierse/Getty Images)
Which players could be leaving?
Tottenham do not have a lot of spare players given recent departures, but there has been interest in Radu Dragusin. The Romania centre-back has now recovered after missing most of 2025 with an ACL injury, and has featured from the bench in recent weeks.
There is interest from Serie A — the league Spurs signed him from in January 2024 — about a move back there.
Jack Pitt-Brooke
Barcelona
What has happened this week?
Barcelona won the first trophy of the season in Spain, the Supercopa de Espana, by beating Real Madrid 3-2 in the final.
Off the pitch, Barca will have a new signing for the coming months in the form of Al Hilal’s former Manchester City full-back Joao Cancelo. Senior figures such as president Joan Laporta and sporting director Deco have confirmed Barca are set to sign the Portugal international on loan for the rest of the season, a new addition that will satisfy Hansi Flick’s demand to bring in a new defender after Andreas Christensen’s long-term injury.
Cancelo previously spent the 2023-24 season on loan at Barcelona, before the club opted not to sign him permanently. Cancelo had his medical on Monday.
Cancelo will join Barcelona on loan (Attila Kisbendek/AFP via Getty Images)
Will Cancelo’s return be a boost?
He is not the perfect signing, but he will add a new option for Flick in defence that allows him to give other players more rest.
Initially, Barca executives and their German coach preferred to sign a centre-back on loan as backup. But, after exploring the market, they did not find any appealing options for the next five months that would not compromise the club’s finances.
Cancelo was seen as a financially viable signing as well as a player who can add certain qualities to the side. He can play in both full-back spots, which will allow left-back Gerard Martin to play mainly as a centre-back now. It could potentially mean Jules Kounde operates in central defence if needed.
The 31-year-old Cancelo will be registered thanks to Christensen’s injury, which fits La Liga’s criteria of being regarded as a long-term injury. Barca will be able to use 80 per cent of Christensen’s salary space to register a new player under the competition’s rules, which will be used on Cancelo. Club sources told The Athletic that Barca would pay around €5million of the full-back’s salary, which is understood to be around €16m per year at Al Hilal.
What positions/players are they looking at?
After Cancelo’s signing, there is no expectation of any other player joining the club this month.
The club will be looking for a central striker and a centre-back in the future, but those will be targets for the summer and beyond.
Barcelona want a striker and a centre-back in the future (Yasser Bakhsh/Getty Images)
Which players could be leaving?
The main player who could leave is Marc-Andre ter Stegen.
The situation with the goalkeeper and club captain is pretty much the same as last week: Barcelona would like to offload him and, as of now, the club that have expressed the biggest interest in him, according to club sources, are Girona.
Girona would offer Ter Stegen a platform to be their No 1 and stake his claim to be selected by Germany for the World Cup in the United States, Canada and Mexico this summer, while staying in Catalonia, which the 33-year-old favours for family reasons.
The sticking point is Ter Stegen’s salary. Barca sources say the club are open to letting the German leave with Barca covering a large chunk of his salary, but that might still prove a challenge for Girona. They also need to work on offloading their second-choice goalkeeper, Dominik Livakovic, before they bring in Ter Stegen. The Croatia international is actively looking for a new destination, but has not found one yet.
It is not the only piece of business linking Barca and Girona — the latter are also interested in 18-year-old midfielder Marc Bernal.
Club sources admit there is a chance Bernal leaves this summer if he is desperate for more gametime. Eric Garcia’s performances as a midfielder, Flick’s trust in Frenkie de Jong and Cancelo’s arrival might mean Garcia is given even more minutes in the centre of the park — meaning there could be limited opportunities for the teenager.
Bernal will have to make a decision. Flick would be happy for him to stay, but Barca sources have not closed the door on any possible exit.
Pol Ballus
Real Madrid
What has happened this week?
In the transfer market, not much. On the pitch, Real Madrid lost the Supercopa de Espana final 3-2 to arch-rivals Barcelona, but the follow-up to that defeat was much more significant.
On Monday afternoon, Madrid announced that Xabi Alonso was leaving the Bernabeu after just over seven months as head coach. It followed a difficult start to life in the Spanish capital, with Madrid in second place, four points behind Barcelona, in La Liga. Alonso has been replaced for now by Alvaro Arbeloa, manager of Real Madrid Castilla, their reserve team of young players who compete in the Spanish third division.
Elsewhere, Endrick made his debut on loan for Lyon, scoring a goal against Lille to help them qualify for the French Cup round of 16. The 19-year-old Brazilian striker has joined Paulo Fonseca’s side at the end of December until June in a deal that does not include an option to make the move permanent. His exit — and the fact summer signing Franco Mastantuono was actually registered as a Castilla player when he joined in August — means there are two spaces available in the squad of 25 allowed by La Liga regulations.
Endrick scored on his Lyon debut (Francois Lo Presti/AFP via Getty Images)
But Madrid’s position remains that they will not make any signings this month.
Sunday’s defeat to Barcelona has not changed the plan. This is the message conveyed internally and externally by the board, who have rejected approaches by agents and intermediaries offering players to Madrid.
Should Madrid be trying to renew Carvajal, Rudiger and Alaba?
Not in David Alaba’s case, but perhaps with the other two.
The Austria international has rarely been available since a serious knee injury in December 2023, which has led to ongoing physical problems since he made his comeback last January. He is also now 33, and his salary is one of the squad’s highest. While there has been no official communication from the club to the player, his agent Pini Zahavi is working on options in Saudi Arabia as one of the avenues for a possible next destination.
With Dani Carvajal and Antonio Rudiger, their potential renewals should depend on their availability and performances.
After suffering a long-term knee injury in October 2024, captain Carvajal was struck by another knee issue in October and has yet to return, although he made their squad for the Supercopa. There are doubts, both at the club and on the now 34-year-old player’s side, as to whether he will extend, but both parties are fully prepared to go with any outcome.
Rudiger’s priority is to extend his deal, and the idea between the club and Germany centre-back has always been to start assessing the situation from now. His physical condition and performances are among the aspects to be considered. The 32-year-old’s experience and leadership are both highly valued at Madrid.
What positions/players are they looking at?
None for this window. The club are, however, combing the market for centre-backs and midfielders they can sign in the summer.
Which players could be leaving?
No departures are expected, following Endrick’s loan to Lyon.
Mario Cortegana