Image source, Getty Images

Former Bolton player Kevin Davies recalls when he was involved in a transfer deadline saga: "It was the January transfer window three years ago. Sunderland came knocking and I had a few chats with their manager Martin O'Neill.

"It came to deadline day, the agent turned up and the deal was on the table. I was told by the agent to bang on manager Owen Coyle's door and tell him I wanted to leave. I didn't want to do that. I wanted to sit down and talk about it. Owen looked me in the eye and said, 'you tell me you want to leave Bolton'. He kind of had me really. He knew I was the captain of the club and knew how much Bolton meant to me.

"It was a lot of information to take in on that day. I weighed it up with the family and worked out it wasn't the right move for us."

Leeds United striker Soulemayne Doukara signs three-year deal after converting season-long loan deal from Catania into a permanent one.

He is currently injured but scored twice in Capital One Cup v Accrington.

For a full list of confirmed transfers throughout the day, visit our dedicated page on the BBC Sport website.

Ian Dennis
BBC Radio 5 live senior football reporter

"I'm reliably told Newcastle's Hatem Ben Arfa refused the opportunity to go to Besiktas. He wanted to stay in the Premier League so Hull City more attractive proposition to him."

Italian Serie A

There are just 20 minutes to the deadline in Italy. If Micah Richards is going to join Fiorentina he'd better be holding a pen right now...

Image source, AP

James London: Arsenal could've had Remy for 10mil but instead plump up 16 for Welbeck. Oh dear. Oh dear, oh dear. I feel for the fans.

Dave in Reading: Really sad to see Welbeck go. A mistake, I think.

Dan an Arsenal fan: Welbeck is young, English and knows the Premier League. I would love to see him come to Arsenal.

The Cobblers' big signing is Fleetwood defender Ryan Cresswell. Is he the new Sean Dyche? Let's hope so.

Matt Shailer:, external Newcastle address our defensive frailties by loaning out a centre back and leaving that area short, bringing in nobody. Joy.

Simon MacRae:, external I'm an Arsenal fan recently moved to Gloucester. If we sign Welbeck I'll give up on football completely and watch only rugby.

Ted Powell:, external Gaston Ramirez to Hull too. Wow, wow, wow. Concerns defensively but going forward they are going to be very easy to watch.

Conor McNamara
BBC commentator

"There's a lot of people here outside Manchester United's training ground waiting to catch a glimpse of Radamel Falcao. It certainly seems he has not come in through the front door.

"There are a few farmers lanes around here where they could smuggle him in. We assume a medical is taking place but we have not witnessed the man himself."

Crystal Palace

It's not Peter Ndlovu - Crystal Palace complete the signing of Wigan midfielder James McArthur.

No details on the deal just yet.

Image source, Crystal Palace

BBC Radio 5 live football reporter John Southall at QPR: "I'm reliably informed Sandro is now here completing his transfer."

My colleague Andy Cryer tells me that Blackburn are hopeful of completing a loan deal for Fulham midfielder Ryan Tunnicliffe. They remain hopeful of at least one more signing as well before the window closes.

French Ligue 1

BBC World Service's Steve Crossman: "Paris Saint-Germain and Monaco have been calling the tune for a good while now but today at least it's the Parisiens great rivals Marseille who've made the biggest signing.

"Brazilian defender Doria has joined them for £8m from Botafogo."

From Roger in Colchester: Lifelong Gooner. Unimpressive start to the season and now Welbeck. Wenger has just written his resignation letter with this terrible signing. My dad's a Man Utd supporter and is laughing his head off.

John E Newcastle: Keep spending Man Utd. Be interesting what the contract small prints say if you don't make the top four... Then the finance people will start squirming.

Jack Rollings: United need to push for Hummels and improve defence! Attack is already overwhelming!

Real Madrid's Gareth Bale on Twitter:, external Feeling a lot different to this time last year! Looking forward to seeing what last-minute deals happen this deadline day.

Crystal Palace

Crystal Palace co-chairman Steve Parish on BBC Radio 5 live: "We've agreed a deal for a striker. They're at the training ground now trying to finish it. He has played in the Premier League but he's not currently at a Premier League side. We're bringing him in on loan. You will know who he is in about an hour's time."

It's Kevin Campbell. Maybe John Spencer. NO, Peter Ndlovu! I don't know...

Just over 90 minutes from the deadline then and it's all about to kick off. A reminder that clubs have had since the end of last season to make any signings.

So why wait till now? Because it's fun! That's why.

Hold on to your hats. This is a target-rich environment. It's the bottom of the ninth, the score is tied. It's time for the big one.

David Ornstein
BBC Sport

"Arsenal have reached an agreement with Manchester United for the permanent signing of Danny Welbeck.

"The fee is in the region of £16m and there is no expectation that there will be any complications with the 23-year-old's personal terms or medical checks."

QPR striker Charlie Austin:, external Is there going to be one last big signing?

Mikey Moore:, external Hope Liverpool can sign one more player before the deadline.

AJS:, external Please please don't sell Ben Arfa!! One of the best and most loyal players. Will be devastated.

Gerard Harb:, external Man Utd should go after De Jong or Strootman, best fit for a powerful mid field.

Image source, Getty Images

Mario Balotelli or Danny Welbeck. If you had £16m in your back pocket, which would you choose?