More spending expected on deadline day
Premier League clubs were jostling for one last piece of wheeler-dealing on Thursday before the January transfer window closes at midnight.
Traditionally, spending on new players is less in January than in the wider window between the end of the season and start of the next one.
But in recent years, signings like the £50 million move of Fernando Torres from Liverpool to Chelsea in 2010 have made January an increasingly utilised option.
According to Deloitte, the financial analysts, spending on new players, estimated to be around £85 million, is up three times on what had been spent at this stage in 2012, but similar to the figure in 2011.
"Transfer activity over the final few hours can change the overall picture as we saw on deadline day in January 2011 when well over 100 million was spent by clubs," said Dan Jones, partner in the Sports Business Group at Deloitte.
"Going into the final day in this transfer window, Premier League clubs have spent around 85 million on acquiring new players and their net spending is much lower."
The impending introduction of Uefa's financial fair-play break-even requirement may have restricted some teams' spending plans but while many clubs say their dealings are done for the month, others are planning to spend big.
Queens Park Rangers manager Harry Redknapp confirmed on Thursday that the league's bottom club have agreed to sign defender Christopher Samba from Russian side Anzhi, in a deal rumoured to be worth around £12.5 million.
Redknapp is renowned as one of the country's foremost wheeler-dealers in transfer terms but said his reputation is unfair.
"I do not know why I am associated with deadline day," he told Sky Sports.
"I did not do that much business (when he was at) Spurs. I wish I was sitting in a situation where we did not need any players.
"But we are not in that situation, and we have lost centre-back Ryan Nelsen so I need a replacement for him and we have got Chris Samba. He is a massive signing for us."
Liverpool manager Brendan Rodgers, who has already paid around £20 million for Daniel Sturridge from Chelsea and Coutinho from Inter Milan, said his team's spending was done.
Chelsea caretaker manager Rafa Benitez and Arsenal manager Arsene Wenger both said they did not expect to bring anyone in at the last minute.
But for some of the lower-placed clubs, January is often seen as a last-chance opportunity and Wigan manager Roberto Martinez said he was looking to bring in someone new.
"I expect a busy deadline day and we've been working on a few possibilities," the Spaniard said on Twitter. "It is important we are as strong as we can be."