After financial fair play concerns limited spending last January, this could be a busier window for Europe’s biggest clubs. In the Premier League, Liverpool are flying high but are yet to secure new contracts for Mohamed Salah, Virgil van Dijk or Trent Alexander-Arnold – with all three now able to speak to other clubs about pre-contract agreements.

Behind them, Arsenal are weighing up whether to boost their attacking options, and Manchester City could recruit a new midfielder with Rodri’s absence derailing their title hopes. Further down the table, Manchester United may need to clear players out before Ruben Amorim can make signings, but Ange Postecoglou is planning to bolster his underachieving Tottenham squad.

In Spain, Barcelona are fighting to secure the permanent registration of Dani Olmo, a process that could have repercussions across Europe. Barça have stumbled after a strong start, leaving Atlético and Real Madrid as the top two – will either of the cross-city rivals invest this month in a bid to take an edge in the title race?

Bayer Leverkusen have brought in promising young striker Alejo Sarco as they aim to keep competing in the league and in Europe. Will Vincent Kompany stick with his Bayern Munich squad or twist with a two-horse title race in the Bundesliga?

There’s an epic three-way battle for the title under way in Italy between Inter, Napoli and Atalanta – a shrewd winter signing could make the difference. In France, Monaco and Marseille may extend their ambitious recent investment in a bid to reel in PSG – and we never quite know when the next Saudi Pro League splurge might happen.