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Mark Ogden explains why there was a lack of player movement in the January movement window (3:15).
The January 2024 moving window was unsuccessful in the height of summer, or even last January, as European clubs did little business.
While England’s Premier League teams spent a record €2.79 billion during the summer window and €842 million in January 2023, Transfermarkt reveals that figure to be around €121m this month.
In Europe’s other top leagues, it was a similar story. It is fair to say the transfer bubble has burst due to new financial regulations and a lack of available options.
Indeed, in France’s Ligue 1 (€192m), Italy’s Serie A (€101m), Germany’s Bundesliga (€82m) and Spain’s LaLiga (€86m) clubs also spent less. And Saudi Arabia’s Pro League dropped from summer deals totalling €949m to just €23m in January.
So, despite the general lack of activity, who has done well?And who did it wrong?
BAYERN MUNICH
Despite failing in their quest to land a defensive midfielder, the German champions still enjoyed a positive window. The signing of right-back Sacha Boey is particularly exciting, as the 23-year-old has been solid for Galatasaray since joining the club in 2021 and impressed in the Champions League. Defensively tidy, consistent and enthusiastic going forward, the €30m new arrival should boost Bayern’s right flank considerably.
The capture of Eric Dier, on an initial loan from Tottenham, also offers coach Thomas Tuchel experience and versatility at the back. As a bonus, Bayern also managed to fast track the signing of Granada winger Bryan Zaragoza — his €15m arrival was already agreed for the summer — right before the deadline.
ATLETICO MADRID
Third in the La Liga table, Atletico arguably wouldn’t have opted for quantity in the transfer window, but they finished with quality. To the astonishment of many, he signed attractive Antwerp midfielder Arthur Vermeeren in a well-executed deal.
The Belgium international had been linked with almost every elite club around Europe, with a transfer fee mooted to be between €35m-€50m, but the 18-year-old suddenly turned up in Madrid and signed for an initial €22m (plus €5m add-ons). While Vermeeren might not stroll straight into the starting XI, Atletico have nonetheless secured one of Europe’s most coveted teenagers.
Add to that the signings of defender Gabriel Paulista and goalkeeper Horatiu Moldovan, and the club will be well placed to meet the challenge in the second half of the season.
TOTTENHAM
Spurs have done well to sign a new centre-back given the lack of features this month. With €25m from Genoa, Radu Dragus is the most expensive sign of the Premier League window and represented good value for money given his apparent potential.
What’s more, although it’s still his first goal for the club, German striker Timo Werner, on loan from RB Leipzig, has brought power and liveliness to Spurs’ attack with a helping hand in each of his first two league games.
BORUSSIA DORTMUND
Dortmund may underperform in the Bundesliga, where they are in fourth place, but they can boast good movement of movements. Chelsea loan spell Ian Maatsen has been outstanding in his first three games, and the left-back helped in a 4-0 away win over FC Cologne.
The same can be said for the return of fan favorite Jadon Sancho. Although the England winger has been cautiously reintroduced, due to his lack of playing time at Manchester United in recent months, he has already been productive with two assists. In fact, back at the club he left in 2021 for €85 million, he looks like an absolutely different player to the desperate, confidence-hungry figure he cut in the Premier League.
SOUTH AMERICAN TEENS
Striker Vitor Roque, despite everything, has arrived at Barcelona. Although last year it was agreed that he would sign for 40 million euros from Atletico-PR to sign in the summer of 2024, he came forward after an injury to Gavi. It took a long time for the 18-year-old Brazilian to make his mark at Barcelona with a header two minutes after coming off the bench in a 1-0 win over Osasuna.
Manchester City pounced for River Plate’s exceptionally talented forward Claudio Echeverri, who was a standout performer at the recent under-17 World Cup — though his arrival in Manchester is not due before the end of the year as he returned to his former club on loan.
Brighton beat City and signed Boca Juniors left-back Valentin Barco for around €10 million. The 19-year-old, who is on the list of many of Europe’s most sensible teams and the Premier League club, has become a star of the future.
Meanwhile, another promising player on the South American scene has been signed via PSG for €20 million. Corinthians defensive midfielder Gabriel Moscardó has garnered rave reviews for his performances in Brazil’s Serie A and the 18-year-old was signed earlier. returning to his former club on loan.
Obviously, without a market price for transfers in Europe, some of the more sensible clubs on the continent have been looking for bargains in South America.
Craig Burley believes Marcus Rashford “needs to rethink” after being left out of Man United’s FA Cup squad.
THE FANS
With transfer windows fitting for a full-blown biannual occasion, and valuable signings celebrated as a long-awaited trophy, this one proved disappointing for most hungry fans.
While this is certainly a sign of good health, the inflexible 10-point penalty imposed on Everton (and soon Nottingham Forest as well) has certainly brought an air of caution to Premier League spending, which has risen from €1 billion in January 2023. this time at around €100 million.
It also avoids the trickle-down effect that oils the wheels of several European leagues (and, in turn, restricts investment further down the pyramid). While January returned movement activity to year-to-year levels of the COVID-19 pandemic, there’s no explanation for why things are. He probably wouldn’t recover this summer.
UNITED MAN
Languishing in the Premier League midfield, some moves are mandatory and expected at Old Trafford. Instead, while the club waits for Sir Jim Ratcliffe’s 25-cent minority investment to be ratified by the league, while also facing monetary challenges, no new faces have come forward at Carrington.
Sending €85m signing Sancho on loan to Dortmund is also a defeat for the club. As much as Sancho didn’t figure in manager Erik ten Hag’s plans due to their very public disagreement, having to practically give up on such a talented player is not a good look. And Anthony Martial’s injury alongside Marcus Rashford’s disciplinary issues, means they really have very few options up front.
SAUDI PRO LEAGUE
After the incessant summer splurges that reached around €800 million, the Saudi Pro League failed to ignite the market in January.
With the exception of Marseille left-back Renan Lodi, who joined Al Hilal for €23m, the ambitious, high-spending league has seen the influx of flexible loans and transfers, a stark contrast to last summer.
In addition, the league has also struggled to retain its top stars. Jordan Henderson has already left Al Ettifaq for Ajax, former Real Madrid striker Karim Benzema needs to leave Al Ittihad just months after his arrival, while Al Nassr defender Aymeric Laporte has expressed his displeasure (and that of others).
BENRAHMA SAID
It looked like West Ham winger Said Benrahma would be loaned out to French club Lyon before the deal fell through at the last minute.
Incredibly, Lyon issued a statement accusing the club of “incomprehensible behaviour” and “disrespect”. They insisted that they had carried out all the administrative formalities, but that “West Ham had never introduced any technical procedures on their part, despite repeated reminders from OL and uninterrupted mutual telephone communication”.
So now the 28-year-old Algerian foreigner is stuck in a place where he doesn’t need to be and possibly won’t be able to leave until July. When you do, it’s unlikely to be to move to Lyon.