Sam Thompson, Kae Kurd and Jordan North rank the top five most expensive January transfer window signings of all time.

Fulham

Image source, Getty Images

Fulham manager Marco Silva has played down the chances of the club making signings before tonight's transfer deadline.

Chelsea striker Armando Broja is one of the players they have been linked with in recent days.

"To be honest with you, I am not expecting many things towards the end of the market," said Silva after Tuesday's 0-0 draw against Everton. "If it was possible to do something, we should have done it at the beginning of the window because we had a [Carabao Cup] semi-final to play and the FA Cup [fourth round].

"The board are trying to do their best but if you ask me if we are going to do many things at the end of the market, then no.

"I will not talk about players that are not our players and rumours."

Simon Stone
BBC Sport

Tottenham youngster Alejo Veliz is joining Sevilla on loan.

The 20-year-old Argentine joined Spurs in the summer and has made eight substitute appearances in the Premier League, scoring his only goal at Brighton in December.

However, Tottenham feel Veliz will benefit from playing more frequently for Sevilla, who have also signed Manchester United’s Hannibal Mejbri on loan during the current transfer window.

Meanwhile, Bryan Gil is still to decide whether to join Brighton.

Tottenham have cleared the 22-year-old to complete another loan move after previous spells with Sevilla and Valencia, but it is not certain the deal with go through.

Phil McNulty
BBC Sport chief football writer

Aston Villa will complete two more deadline-day signings after landing Middlesbrough’s Morgan Rogers - with Australia goalkeeper Joe Gauci and Arsenal’s England Under-19 full-back Lino Sousa also set to confirm moves.

Rogers finally completed his switch to Villa Park after days of negotiations, with manager Unai Emery very keen to add the talented 21-year-old to his squad.

Adelaide United keeper Gauci, who is currently away with Australia at the Asian Cup, is regarded as an outstanding prospect, with the 23-year-old seen as a very capable understudy for Villa's first-choice keeper and Argentina World Cup winner, Emiliano Martinez.

The deal is expected to be confirmed for an undisclosed fee before the close of the transfer window, as will the move for 19-year-old Sousa, who is out of contract at Arsenal in the summer.

And there has been no change in Villa’s position on England Under-21 midfielder Jacob Ramsey. He has attracted interest from Bayern Munich, Newcastle United and Tottenham but Villa have insisted the hugely popular local product is going nowhere.

Simon Stone
BBC Sport

Manchester City are not going to play any significant role in transfer deadline day, with, potentially, only younger players moving out, possibly looking for first team experience.

However, those deals can often have future benefits.

That has happened for City with Morgan Rogers' move to Aston Villa.

City pocket 25% of any profit Middlesbrough make from the deal and at the figures reported, that could net them up to £3.375m.

Aston Villa

One of the few deals to have gone through so far today is Aston Villa signing 21-year-old striker Morgan Rogers from Middlesbrough.

We're getting more info on that move and the transfer fee is an initial £8m, although add-ons could take the whole deal up to £15m.

Image source, Getty Images

The Telegraph's Luke Edwards tells the Transfer Gossip Daily podcast he thinks Dominic Solanke is more likely to leave Bournemouth in the summer.

"I just think we're looking at a player who might soon outgrow Bournemouth now, as we've seen with this window," he said.

"Solanke is having that sort of season where it feels like a breakthrough one for him.

"I think he'll probably leave in the summer.

"The sort of campaign he's had, I think he's an outside bet to get into Gareth Southgate's Euros squad."

Listen to the Transfer Gossip Daily podcast

Football Focus

Speaking of medicals, Football Focus reporter Liam MacDevitt has been put through his paces at Wolves - but would he be fit enough to make a deadline-day move?

Watch Football Focus on Saturday, 3 February at 12:00 GMT on BBC One, BBC iPlayer and the BBC Sport website & app.

Shamoon Hafez
BBC Sport

Burnley's move for right-back Lorenz Assignon means Connor Roberts will be allowed to go out on loan to Leeds.

The Wales international is set to have a medical today at the Championship club.

Image source, PA Media

This winter window has seen several high-profile loan deals, with Tottenham's Eric Dier joining Bayern Munich, Manchester United's Jadon Sancho returning to Borussia Dortmund and Manchester City's Kalvin Phillips moving to West Ham.

"Loan deals are a function of PSR and also the higher wages in England," Professor Rob Wilson, football finance expert at Sheffield Hallam University, told BBC Sport.

"Players are being loaned out with the parent club having to pay 30%, 40%, even 50% of the player's wages. Jadon Sancho is a good example of that."

So are the days of £100m transfers over or will Premier League clubs return to paying eye-watering fees in the summer?

"One working theory is clubs will have a spell of increased spending followed by two years of restraint," Wilson added.

"This would be typical behaviour of a Championship club, where the finance rules are stricter."

Image source, EPA

Professor Rob Wilson, football finance expert at Sheffield Hallam University, told BBC Sport: "In an acronym, PSR - Profit and Sustainability Rules, or what used to be called Financial Fair Play (FFP).

"The charges hanging over Nottingham Forest and Everton for alleged breaches of the Premier League's PSR in their 2022-23 finances have put the wind up other clubs.

"Clubs probably thought they could stray from the guidelines a little bit and only get a small punishment. Now there is a real nervousness."

Under the Premier League's PSR, clubs are only allowed to make losses of £105m over a rolling three-year period. But it is not only PSR that is having an effect.

"There is no real domino effect," Wilson added. "The super clubs in Europe have not spent much. If a top-six club spend £50m on a back-up striker, the selling club has that money to spend.

"Because there is no money in the market, clubs are having to look abroad to sell. But Saudi Arabia has been much quieter and Premier League wages are so much higher compared to other leagues in Europe that players are less incentivised to move."

The transfer window shuts at 23:00 GMT and January spending levels are significantly down on previous seasons.

As of midnight on Wednesday, only 17 players had been signed by Premier League clubs in January, with 10 permanent transfers, seven loan deals and disclosed fees of about £50m.

It is a far cry from the past three transfer windows - January 2023 and the summers of 2022 and 2023 - which each set Premier League spending records.

At the same point last year, on the eve of deadline day, there had been 38 transfers worth about £550m - 10 times this year's amount.

Top-flight clubs went on to spend a record-breaking £843m in last season's January window. That included Chelsea's record £107m deal for Argentina midfielder Enzo Fernandez from Benfica on deadline day.

Image source, Reuters

Shamoon Hafez
BBC Sport

Burnley are looking to sign right-back Lorenz Assignon from Rennes.

The Clarets are leaving it late and have less than 11 hours to complete a deal for the 23-year-old Frenchman.

Assignon had been linked with a move to Galatasaray but it seems like the Turkish giants will sign Serge Aurier from Nottingham Forest instead.

It may allow Championship side Leeds to make a move for Burnley full-back Connor Roberts.

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West Ham United

West Ham boss David Moyes has already made a big move during this transfer window by bringing in Kalvin Phillips on loan from Manchester City.

He pointed out that, at one time, Phillips was considered on a par with fellow England midfielder Declan Rice, who the Hammers sold to Arsenal last summer for £100m plus £5m in add-ons.

Now Moyes hopes Phillips can get "back on track" with West Ham, just as forward Jesse Lingard did when he joined on loan from Manchester United in January 2021.

Alex Howell
BBC Sport

Said Benrahma is set to join Lyon on a permanent deal. The French club is confident they have an agreement with the player and his representatives.

The last parts of the deal that need to be sorted are between the player and West Ham, but the Algeria winger should complete the move to Ligue 1 today.

Image source, PA Media