Premier League’s Winners, Losers From January Transfer Window

Following an extraordinary summer of sensational transfer business in the Premier League, the January window failed to reach anywhere close to the same heights.

Marquee signings were few and far between and the majority of Premier League clubs opted against significant activity in the market. The risks attached with winter spending dissuaded England’s elite from breaking the bank.

However, the winter window was not entirely without movement as 75% of the Premier League’s participants added immediate reinforcements. Some deals were more inspiring than others.

Here are the winners and losers from the January transfer window.

Winners

Manchester City

Manchester City were the only side to make major additions to their squad as they recruited Antoine Semenyo from Bournemouth for £64 million ($87.7 million) and Marc Guéhi from Crystal Palace for an initial £20 million. They were the lead spenders this winter as they sought to remedy two problem positions and, on paper at least, they have conducted stellar business.

Semenyo has been an immediate hit, scoring four goals in his first five appearances for the club in all competitions. The 26 year-old’s versatility, Premier League experience and unquestionable quality ensure he’s almost certain to be a long-term success for Pep Guardiola’s side.

The signing of Guéhi not only covers for current defensive injuries but ensures the service of one of England’s elite centre backs for the coming years. The deal strengthens their depth and quality at the back while also stealing a probable summer signing from rivals Liverpool. The 26-year-old has regularly proven himself among the elite in the Premier League for Crystal Palace.

All in all, City fans can have few complaints.

Bournemouth

The departure of Semenyo is certainly disappointing for Bournemouth but they have embraced their position as a profit-turning, feeder club. The Ghanaian’s exit was inevitable at some point and the Cherries ensured they maximised the fee they received by inserting a sizeable release clause into his deal when a new contract was penned only last summer.

With that money, the Cherries have already reinvested. Backup goalkeepers Fraser Forster and Christos Mandas will hardly get pulses racing despite being necessary additions, but the arrival of highly-talented youngsters Alex Toth and Rayan for a combined sum of £35 million marks more smart business from Bournemouth.

Both have enormous ceilings, in particular ex-Vasco da Gama forward Rayan, who was previously linked with Bayern Munich. The 19-year-old forward managed a first assist on his club debut in the 2–0 victory over Wolverhampton Wanderers.

Jérémy Jacquet

Jérémy Jacquet was the talk of the winter window and while he will spend the remainder of the campaign in France with Rennes, the 20-year-old did secure the first permanent transfer of his career on Deadline Day. Despite regular links with Chelsea, it was Liverpool who secured his signature in a deal that is going to be worth up to £60 million.

For Jacquet, snubbing Chelsea for Liverpool was a wise decision. The Blues’ bloated squad already contains a mountain of defensive options. The injured Levi Colwill is joined by Trevoh Chalobah, Wesley Fofana, Benoît Badiashile, Tosin Adarabioyo, Jorrel Hato, Mamadou Sarr and Aarón Anselmino in the central defensive department.

Jacquet, who is one of the most promising young defenders on the planet, has a much clearer route into the Liverpool setup. Virgil van Dijk is approaching 35 years of age, Ibrahima Konaté is due t be out of contract this coming summer, Joe Gomez is still remarkably injury prone and young Giovanni Leoni is recovering from an ACL injury.

By the time next season begins and Jacquet teams up with the Reds, he could already be a starting centre back at Anfield.

Losers

Liverpool

While it seems slightly contradictory to discuss such an impressive signing like Jacquet and then describe Liverpool as losers of the winter window, the acquisition of the Frenchman doesn’t remedy Arne Slot’s defensive issues for the remainder of this season.

Supporters were crying out for defensive reinforcements this winter considering how few options Liverpool have at the back, especially with injuries mounting at right back as well as centre back, but the Reds decided against bolstering their options for the rest of the term.

Liverpool are one Van Dijk or Konaté injury away from complete disaster and, considering they are still fighting for Champions League qualification alongside competing for this season’s trophy, they are taking a gargantuan risk by delaying such recruitment.

Liverpool didn’t need a transformative addition during the winter window, they just needed bodies. The absence of at least a temporary loan signing has left fans bewildered—even if Jacquet’s arrival this summer lifts spirits.

Crystal Palace

Jean-Philippe Mateta didn’t secure his dream transfer. | Sebastian Frej/Getty Images

Crystal Palace have swiftly descended from FA Cup champions to crisis club in just half a season, with January 2026 perhaps the worst month in the Eagles’ recent history.

Having already seen star man Eberechi Eze depart for Arsenal last summer, where he has been sparingly used since, Palace were forced to accept the loss of their club captain Guéhi last month. The defender’s cut-price exit as his contract neared expiration was compounded by Oliver Glasner’s announcement that he will be leaving Selhurst Park at the end of the season.

To make matters even worse, Jean-Philippe Mateta, the club’s leading goalscorer, then pushed for a January exit to AC Milan, only for a transfer to collapse in the eleventh hour. The Eagles had already signed Jørgen Strand Larsen from Wolves for £48 million, marking an arguably unnecessary but costly piece of business. A £20 million deal for Dwight McNeil was called off at the last minute.

It was a chaotic and unquestionably awful January for Palace, who still find themselves in the relegation battle after nine league games without victory.

Tottenham Hotspur

Thomas Frank’s squad has been decimated by injuries. | Robbie Jay Barratt/AMA/Getty Images

Tottenham Hotspur’s extensive injury list only grew in January. Mohammed Kudus, Rodrigo Bentancur, Lucas Bergvall, Pedro Porro, Ben Davies and Richarlison were added to the injury list following winter setbacks, joining long-term absentees James Maddison and Dejan Kulusevski. With pressure already piling on Thomas Frank, more ailments was the last thing the Spurs boss needed.

The signings of Conor Gallagher and Souza were all that Tottenham could manage to bolster their ranks, with a deal for Liverpool left back Andy Robertson breaking down and the Lilywhites unable to add any further depth in their forward line.

With Tottenham sitting 14th in the Premier League, out of both domestic cup competitions and unlikely to make a significant mark in the Champions League, despite a strong league phase, a disappointing transfer window matches the general mood among the club’s supporters.