A year ago the biggest moves saw Manchester City sign the Ivory Coast striker Wilfried Bony from Swansea City for £28 million (38 million euros; $41.3 million) and Chelsea bring in Colombia winger Juan Cuadrado from Fiorentina for £26.1 million. Fast forward 12 months and Bony has struggled to settle as a back-up to Sergio Aguero to City while Cuadrado has already returned to Italy, joining Juventus on loan.
Making signings in the January window, which closes on February 1, may be a risk, but the new broadcasting deal due to come into effect next season means just finishing last in the Premier League in 2016-17 will be worth £99 million (134 million euros; $145.9 million). That means clubs battling to avoid relegation from England's top flight, or competing for promotion and the associated riches, will be ready to spend big in the winter window, while teams at the top of the table could be ready to spend even more than usual.
While Manchester City are being linked in the English press with a move for Schalke 04's talented young Germany winger Leroy Sane, Arsenal will look to spend to improve their chances of a first title since 2004. Meanwhile, Aston Villa and other strugglers have their cheque books at the ready in a desperate attempt to strengthen their squads and beat the drop. Elsewhere, transfer activity is likely to be modest, although the giants of the Spanish game may make some moves when the window in La Liga opens on Monday, January 4.
Barcelona can finally register players again as a year-long FIFA-imposed transfer ban comes to an end. That means the defending European champions can hand debuts to Aleix Vidal and Arda Turan, who were signed in the summer from Sevilla and Atletico Madrid respectively. In Italy, the window also opens on Monday, while in Germany clubs can start doing business as early as New Year's Day and Eintracht Frankfurt have already announced the signing of the Hungarian Szabolcs Huszti, who returns to the Bundesliga after a spell in China.