Who could move on transfer deadline day? Gallagher to leave Chelsea?

The 2024 winter transfer window has entered its final hours as the clock ticks down to Thursday’s deadline. The Premier League is set to close for business at 11 p.m. GMT / 6 p.m. ET (find out when other leagues close here), and there are still some clubs around Europe who could get one or two deals over the line.

But you shouldn’t expect much, as it’s been the quietest January window ever in the Premier League, with the 20 clubs spending less than £100 million between them. A year ago, the total outlay was £815m, with Chelsea‘s £105m signing of Enzo Fernández from Benfica topping the list and breaking the British transfer record at the same time.

The threat of breaching the Premier League’s strict profitability and sustainability rules (P&S) has forced clubs to restrict their spending this month, especially so in the light of Everton‘s 10-point deduction in November for going beyond their spending limits. The club’s appeal against that sanction is being heard from Wednesday.

Deals have still been done, with Barcelona landing 18-year-old striker Vitor Roque for €40m, Bayern Munich spending €30m to land Galatasaray right-back Sacha Boey, Atlético Madrid snapping up Antwerp star Arthur Vermeeren for €27m, Tottenham Hotspur making a €25m move for Genoa defender Radu Dragusin, and Manchester City signing River Plate’s Claudio Echeverri for an initial €15m, before sending him back on loan.

But the majority of business has revolved around loan deals including Jadon Sancho (Manchester United to Borussia Dortmund), Timo Werner (RB Leipzig to Tottenham), Kalvin Phillips (Man City to West Ham United), Sergio Reguilón (Spurs to Brentford), Goncalo Guedes (Wolverhampton Wanderers to Villarreal), Ben Brereton Díaz (Villarreal to Sheffield United) and David Datro Fofana (Chelsea to Burnley.)

So, with a day or so to go, here’s what you need to known from around Europe’s top leagues in our guide to what could happen on Thursday’s deadline day.

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Premier League

Chelsea’s Conor Gallagher and Borussia Dortmund midfielder Giovanni Reyna are the big-name players to watch on deadline day, with Premier League moves still a possibility for both.

Despite Chelsea coach Mauricio Pochettino repeatedly stressing the importance of England midfielder Gallagher to his plans at Stamford Bridge, the 23-year-old has just 18 months left on his contract and could be offloaded because, as an academy product, any transfer fee is regarded as pure profit in Chelsea’s financial figures — a reality that would make it easier for the club to balance their books and avoid breaching profitability and sustainability rules.

Tottenham are interested in Gallagher, whose transfer is valued at £50m by Chelsea, but the player has maintained a low profile this month, choosing not to push for a move or express a desire to stay at Stamford Bridge.

Forward Armando Broja, another player to come through Chelsea‘s own academy, is being linked with Aston Villa, Fulham and Wolves. Any interested club may land him on loan, but will also have to find £50m for the 22-year-old, who is under contract until 2028, if they want a permanent deal.

Nottingham Forest are favourites to sign USMNT international Reyna on loan from Dortmund, sources have told ESPN, but they face competition from Fiorentina and Marseille for the 21-year-old.

Aston Villa could bolster their attacking options with a move for 21-year-old Middlesbrough star Morgan Rogers. Villa reportedly had a third offer of £7.5m rejected by Boro earlier this week, but the Championship team will find it tough to hold onto the winger.

Although big clubs including Arsenal, Chelsea and Manchester United went into the window needing attacking reinforcements, the likelihood of any major deal incoming signing at any of those teams is remote. Liverpool and Manchester City are not expected to do any business.

Brentford’s Ivan Toney had been expected to be the biggest transfer target during January, but after returning from an eight-month ban for breaching betting rules earlier this month, the 27-year-old has played down the prospect of an £80m move this window. Brentford head coach Thomas Frank has also said that Toney will stay until the end of the season.

Newcastle United may have a busy deadline day, but mainly in terms of holding onto players. They have resisted Bayern Munich’s attempts to sign defender Kieran Trippier, but have yet to fully repel interest from Saudi Arabia in Miguel Almirón and Paris Saint-Germain‘s long-standing desire to sign midfielder Bruno Guimarães. But with Eddie Howe’s team still in the FA Cup and outside hopes of a top-four finish, major outgoings from St James’ Park are unlikely. — Mark Ogden

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LaLiga

The transfer window is likely to close in LaLiga without a late flurry of business at either Barçelona or Real Madrid.

Madrid have been hit hard with long-term injuries in defence, but they have resisted the urge to make short-term signings this month.

Barça have also had their fair share of injuries and, in an ideal world, would bolster their squad this week. They have already recruited Vitor Roque and, if they could pick one more signing, would love to add a midfielder to replace the energy and intensity lost when Gavi was ruled out for the rest of the season with an ACL tear.

With the club in excess of their LaLiga-imposed spending limit for the campaign, the chance of any more additions was looking extremely remote. However, it was the injury to Gavi which created space in the budget to complete the Roque deal early. And with Alejandro Balde now ruled out for the rest of the season too his wage can be removed from the calculation, which gives Barça some room to look at cheap, short-term options.

That said, the Catalan club are hopeful of imminently announcing a €7m deal to sign young Swedish midfielder Lucas Bergvall from Djurgårdens ahead of next season.

It has also been a quiet January for Girona so far, although the surprise LaLiga leaders are still exploring their options before the window closes. Coach Míchel would like one more centre-back and another midfielder to help their title push but has explained he only wants to bring in “long-term options.” He doesn’t want to turn to the market for the sake of it.

Celta Vigo‘s Fran Beltrán, Mallorca‘s Sergi Darder and Celtic‘s Matt O’Riley have been linked as possible targets to strengthen in the middle of the pitch.

Atlético Madrid complete the top four in Spain, and they have been active leading up to deadline day. However, Moise Kean‘s arrival from Juventus has fallen though due to discrepancies in his medical, with Atlético unlikely to pursue another forward as Ángel Correa is set to stay for now despite interest from Saudi Arabia and Memphis Depay is fit again.

Atlético are considering signing Valencia‘s Gabriel Paulista in an attempt to strengthen their defensive line following the departure of Caglar Söyüncü on loan to Fenerbahçe and an injury to José María Giménez. — Sam Marsden

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Rest of Europe

Like in England and Spain, the transfer window has been quiet in the Bundesliga and in Serie A, but slightly more animated in Ligue 1.

Lyon have been busy (signing Nemanja Matic, Gift Orban and Malick Fofana) and are still looking for another midfielder, such as Orel Mangala from Nottingham Forest, while they are closing in on West Ham’s Saïd Benrahma and are also trying to sign Everton winger Arnaut Danjuma.

Don’t expect anything from league-leaders PSG, but things could get interesting at Marseille. L’OM need to bring in some money after recruiting four players (Jean Onana, Ulisses Garcia, Quentin Merlin and Faris Moumbagna). So Vitinha could leave for Genoa or Bologna, while Pape Gueye and Jonathan Clauss are also on the transfer list. Dortmund star Reyna is still a target, as is Benrahma if he doesn’t join Lyon.

In Italy, there should not be much movement at Juventus, Inter Milan or AC Milan, although Southampton‘s Carlos Alcaraz is set to move to Turin on loan and Chelsea defender Trevoh Chalobah is on the shortlist of Milan, Juve and AS Roma. Jonathan Ikoné, the Fiorentina winger, is also being followed by the top Italian clubs. But the most activity could come from the smaller teams like Genoa, Bologna, Udinese or Sassuolo who are all preparing for a hectic day.

In Germany, Bayern Munich, Bayer Leverkusen and Borussia Dortmund are done with their business.

The biggest transfer that could happen is with Eintracht Frankfurt or VfL Wolfsburg, who are both trying to complete a loan deal for PSG’s out-of-favour striker Hugo Ekitike. RB Leipzig lost Timo Werner, Emil Forsberg and Angeliño so they need to recruit to keep their top-four hopes alive. SC Freiburg are interested in Quito talent Óscar Zambrano, while VfB Stuttgart are after former Liverpool midfielder Marko Grujic. All could be really busy. — Julien Laurens