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January Transfer Window Winners and Losers

Which clubs and players made out the best in the January transfer window–and who is filled with regret?

The January transfer window shut across Europe's top leagues on Friday, setting the table for the remainder of the season after hundreds of millions exchanged hands across the continent.

The winter window saw some of Europe's biggest clubs load up, others eye smaller or more long-term reinforcements and others sit out entirely, evidently content with the current state of their squads or unwilling to overextend in an effort to secure some improvements.

With that said, here are five winners and five losers from the last month of transfer business:

WINNERS

Borussia Dortmund

Erling Haaland is all the rage, and he's Dortmund's prized possession now. The club expertly handled his transfer to swoop in early in the month and finalize the move for the 19-year-old Norwegian goal machine. He's rewarded the club's faith with seven goals in three matches, including a double in his first start this past weekend. Dortmund has scored five goals in each of the three games in which he's played. It's as instant cause-effect of a move as there is.

Dortmund also managed to land Emre Can and free him from what turned out to be a bad situation at Juventus, profit marginally on Paco Alcacer and sits within three points of first place in what is turning out to be the best title race in Europe's "top five" leagues. The Black and Yellow appear to be equipped for another run at the title.

Hertha Berlin

Jurgen Klinsmann was tasked with steering Hertha Berlin to safety after its early struggles, and he's been presented with a new arsenal of weaponry to not just do that, but finish comfortably mid-table.

Under new ownership, Hertha spent big, landing Krzysztof Piatek and Matheus Cunha, two players who have underperformed this season but bring big scoring potential to a club that is tied for the third-fewest goals in the Bundesliga this season. Big buys were't limited to the top of the table in Germany.

Tottenham

After multiple transfer windows of being a bystander, Tottenham went all-in this winter. It got what it could for Christian Eriksen, who was out of contract at the end of the season and clearly needed to leave. He's off to Inter Milan, with his replacement already in-house in the form of Giovani Lo Celso. The Argentine's loan from Real Betis was converted into a full transfer, which coupled with the additions of Gelson Fernandes and Steven Bergwijn in a completely remade midfield.

Tottenham could have used a target forward to properly step in for Harry Kane, but Bergwijn scored a great goal on his debut, and Spurs have some fresh horses for a run at the top four, trailing Chelsea now by just four points. They had to do something, and they wound up doing plenty.

Odion Ighalo

Ighalo went from being at Shanghai Shenhua, whose season has been delayed indefinitely due to the breakout of the coronavirus in China, to being given a Premier League lifeline at Manchester United. Late word of his loan move to Old Trafford sparked plenty of confused reactions, and anyone expecting this move to suddenly put Man United over the top in the top-four race should probably take a step back. 

The 30-year-old Nigerian did score goals in bunches in China, for what it's worth, but he can't possibly be viewed as a savior candidate. His personal situation has improved immensely, though, and any contributions he can provide could put him in cult-hero status. Ultimately, a loan through the end of the season a low-risk move for Man United–though that it seemingly came out of nowhere after all other forward options were exhausted makes you wonder how much of a part of any transfer plan Ighalo really was.   

The Legend of Zlatan

Ibrahimovic arrived on a free transfer and technically arrived outside of the transfer window, but his signing has coincided with a major uptick in form for the storied Serie A power. He has a modest two goals in five appearances in all competitions so far, but Milan is undefeated (5-0-2) since his arrival after going 2-3-2 in the two months that preceded it. His professionalism and attitude have been cited as galvanizing factors in the dressing room, and Milan suddenly finds itself as one of three teams seven points off the pace of a top-four finish. 

There's work to be done, and perhaps it's high a hill to climb, but Ibrahimovic is proving that his skills, at 38, have not yet diminished–and that his time in MLS didn't ruin him, either.

LOSERS

Chelsea

You appeal and appeal to have a transfer ban lifted and then ... do nothing?! Chelsea has performed admirably after being forced to turn in-house to solutions following the transfer ban placed on the club for previous transgressions. But once that ban was lifted though an appeals process, Chelsea had the green light to spend on reinforcements and fortify its top-four standing. Recent form would suggest that reinforcements are needed, and injuries to Tammy Abraham and Christian Pulisic haven't helped matters. Instead, the club did nothing, failed to part ways with an unhappy veteran (more on him below) and will stay the course through the summer. 

This all simultaneously occurred while Tottenham loaded up in hopes of making a run at the top four. Even Manchester United managed to land a potential difference-maker in the race for fourth place.

If the club wasn't going to sign anyone, what was the point of even going through the painstaking appeals process? It all seems like a missed opportunity for the Blues in what has become the only race near the top of the table that will go down to the wire.

Antonee Robinson

Poor Antonee. Imagine the mental whirlwind of thinking you're moving to AC Milan, actually taking a medical for AC Milan in Italy and then having it all go belly up and be forced to return to a club fighting off relegation yet again. Wigan's line that necessary medical exams couldn't be completed in time amid reports that Wigan asked for more money at the last minute makes it seem like something fishy transpired to cause the move to fall apart.

It was a brutal set of circumstances for the 22-year-old USMNT left back, who has to completely reset and refocus after having a potential major career opportunity go by the wayside. If it's any consolation, that AC Milan was interested in the former Everton youth product should provide a boost to the ego.

Edinson Cavani

Cavani is out of contract with at the end of the season, appears to be the odd man out behind Neymar, Kylian Mbappe and Mauro Icardi and desired a move to Atletico Madrid to continue his career. Instead, no move materialized, he'll remain in Paris through the end of the season and have to hope that enough playing time is in the offing as another Copa America summer looms around the corner.

All signs point to a free transfer to Atletico Madrid this summer, but you wonder if Atleti rues not meeting PSG's transfer demands now that Alvaro Morata is out injured.

Olivier Giroud

Like Cavani, Giroud wanted a change of scenery, knowing that without proper playing time, form and fitness, his chances at making France's Euro 2020 squad diminish. He was thought to be headed everywhere from Inter Milan to Tottenham to Newcastle, yet he's remained at Chelsea, where he's a become a bit player under Frank Lampard. It's hard to envision a pathway to required playing time now.

RB Salzburg

Selling top players alone doesn't make RB Salzburg a true "loser." In the current landscape, teams like Salzburg are bound to have their top players picked off by bigger-spending clubs. The fees accrued for Haaland and Takumi Minamino totaled just over $30 million, though, which seems paltry considering their trajectories and current abilities. Sell-on fees could extend the windfall, but even so, when Salzburg–which hit the winter break undefeated in Austria and alive in the Europa League knockout stage after a third-place finish in a tough Champions League group–resumes play, it'll do so without two of its top players. 

Did cashing in now and securing investment for the future sacrifice the present? It'll be up to American manager Jesse Marsch to ensure that's not the case and steer the club to another domestic title.