Culture
Where are all the January transfers in the Premier League?
The rumour mill is still. The gossip columns are sparse. The Sky Sports News totaliser sits dormant. Fabrizio Romano seems to be tweeting more about deals that aren’t happening than ones that are. The Athletic has given David Ornstein the month off (just kidding: we would never let him have any time off).
This has been a quiet January transfer window.
There are nine days to go until the February 1 deadline and between the 20 clubs of the Premier League, there have been only six permanent purchases for actual money, for a total of around £44million ($56m).
Five of those won’t be doing much for their new employers in the short term, either.
Two are Brighton & Hove Albion’s latest additions to their cache of promising youngsters — 19-year-old Argentine defender Valentin Barco and 18-year-old Romanian winger Adrian Mazilu (whose move was agreed last summer and who has joined Vitesse on loan) for around £10.4million combined. Brentford recruited 18-year-old Turkish midfielder Yunus Emre Konak and Luton Town signed Tom Holmes but loaned him straight back to third-tier Reading, both for undisclosed fees. Aston Villa did an £8m deal for 18-year-old defender Kosta Nedeljkovic but immediately returned him on loan to Red Star Belgrade.
Then there’s Radu Dragusin, the defender signed by Tottenham Hotspur from Genoa for £25million, who is the only senior first-team player signed for a fee by a Premier League club this month.
Spurs, the great transfer negotiators, are thus responsible for more than half of the money spent in this window.
Dragusin’s move from Genoa is the only significant piece of January business (Giuseppe Bellini/Getty Images)
There have been some loans — most notably Timo Werner, also to Spurs from RB Leipzig, and, if it goes through, Manchester City’s Kalvin Phillips to West Ham United — for which money may have changed hands, but the most frequent type of transaction involving Premier League clubs this month has been them recalling youngsters from loans in the EFL.
Don’t expect a flurry of transfers in the coming days either.
The Athletic spoke to agents and other figures involved in the game, who confirmed it’s not just a case of big moves simply failing to get over the line despite the best efforts of clubs. Late deals could still emerge but there isn’t much in the pipeline, certainly in terms of incomings to the Premier League.
So why is this the case?
The first thing to say is that the January window is usually quiet. Last year, £815million was spent by Premier League clubs, but that was an outlier, with Chelsea’s extraordinary splurge accounting for nearly a third of that figure. In the previous nine winter windows, according to figures from Deloitte, the January spend in the Premier League averaged around £206m — so a little over £10m per club.
Compare that to the summer window: in 2023, the 20 Premier League clubs spent a collective £2.36billion. The summer before that, it was £1.92bn.
“January is always a difficult buyers’ market,” said one executive at a Premier League club, who, like others in this article, has been granted anonymity to protect relationships. “There’s only a small selection of teams to buy from, and you’ll probably have to overpay.”
And almost by definition, the players that you might have to overpay for in January may not exactly be the cream of the crop. “If a player is available in January, he’s available for a reason,” one agent told The Athletic. Often that reason is they haven’t been playing at their club. So if you need someone to slot into your first XI straight away, how ready are they going to be?
Tottenham newcomer Werner was a notable loan signing (Catherine Ivill/Getty Images)
But even in this context, this January has been particularly sleepy. And the biggest reason for that is how hard the Premier League’s profit and sustainability (PSR) rules are biting. Everton and Nottingham Forest have been charged with breaches and others are thought to be sailing quite close to the wind — one source indicated half of the division’s 20 clubs are glancing at their balance sheets nervously.
Forest seem the keenest of any side to do late deals, exploring moves for Borussia Dortmund and USMNT midfielder Gio Reyna and Ajax winger Carlos Forbs, but even then only on loan.
Manchester United have said they will have to be “really disciplined”, Newcastle United seem open to selling to balance their books, Wolverhampton Wanderers already got rid of most of their squad in the summer for that reason, and Fulham and Villa have to be careful.
These regulations have been in place since 2015 in the Premier League but there was perhaps previously a prevailing attitude that clubs could be fairly liberal in terms of abiding by them: if it meant equipping their squad to, say, qualify for Europe or avoid relegation, they would take a fine or even a transfer embargo for a window or two further down the line.
But it would appear the 10-point penalty given to Everton in November has provoked the desired effect in terms of a deterrent: one senior figure at a Premier League club said the decision had made some clubs “sit up and go, ‘Jesus Christ, this thing is real’”. It was a “line in the sand” moment, the realisation that punishments could have a serious impact, rather than just a mere inconvenience.
Another knock-on effect related to the PSR punishments is a relative lack of peril for some of the clubs in the bottom half of the league. A second charge has left Everton facing another points deduction, Forest could also be docked some and the present bottom three are among the weaker sets of promoted clubs we have seen in Premier League history. All of which means it’s pretty likely that three of those five will end up getting relegated.
In previous years, a team in Crystal Palace’s position — 15th with 21 points from 21 games, five clear of the relegation zone but with the division’s third-weakest attack in terms of goals scored — might have considered spending a significant sum on a forward to help them out, even if they had to overpay for him. Something like that might amount to a £30million bet on saving £100m by avoiding the drop. But considering the diminished risk of relegation, Palace may not think it’s worth the risk.
But the rules aren’t the only thing to have hindered the market.
On the most basic level, there just aren’t that many players available, at least not at the top end. “Everyone is always looking for a striker, but there just aren’t any around,” said one agent.
Victor Osimhen, currently at the Africa Cup of Nations, would be incredibly expensive to get out of Napoli. Lautaro Martinez would be similarly pricy and Inter Milan are unlikely to sell him at any price while they’re in the Serie A title race. The Kylian Mbappe Paris Saint-Germain exit saga will restart in the summer. Brentford are unlikely to sell Ivan Toney this month.
Victor Boniface might have been a candidate for a move but he picked up an injury before AFCON. Serhou Guirassy, who had a remarkably low release clause of around £15million, appears to have decided to stay with Stuttgart until at least the summer.
Osimhen in action for Nigeria at the Africa Cup of Nations (Issouf Sanogo/AFP via Getty Images)
Having two international tournaments going on at the same time as the winter window is another factor: only two Premier League clubs — Manchester City and Newcastle — don’t have any players at either AFCON or its Asian Cup equivalent, which won’t conclude until the second weekend of February.
This limits the pool of available players in a couple of ways: first, January tends to be about recruiting players for an instant impact, which is naturally diminished if the player you want might not be with you until halfway through next month. But also, if a club’s number of available players is already down due to tournament absentees, they’re less likely to sell any of the ones that are still in the building.
This is quite a depressing prism through which to view two incredibly important and entertaining tournaments but, in a football world where transfers are king, it is part of the thinking.
The Saudi Pro League broadly keeping its collective wallet in its collective pocket is also a consideration.
Premier League clubs were the biggest beneficiaries of Saudi largesse last summer, with around £250million brought in for Fabinho, Aymeric Laporte, Riyad Mahrez, Edouard Mendy, Kalidou Koulibaly and others. With less money received from what was — and could still be — a reliable source of correcting mistakes and balancing books for profligate Premier League sides, there is less of it available to spend.
Perhaps the biggest reason for the lack of big-money moves, though, is that spending a lot of money in this window tends not to work. Take Chelsea last January: they dropped around £270million on Mykhailo Mudryk, Enzo Fernandez, Benoit Badiashile and Noni Madueke (plus Malo Gusto and Andrey Santos, who didn’t actually move to the London club until the summer), a figure that doesn’t even include the £9.7m loan fee for Joao Felix. Chelsea were 10th at the end of that month. They finished 12th.
Additionally Southampton, Leeds United and Leicester City spent around £140million between them, hoping to turn their respective seasons around. Those three clubs were relegated, all recording a worse points-per-game record post-January than they did in the months before. Leicester and Leeds dropped from 14th and 15th when the window shut and through the trap door.
Fernandez was part of Chelsea’s £270m splurge a year ago (Jacques Feeney/Offside/Offside via Getty Images)
It stretches beyond recent history and extends further than the Premier League, too.
“We’ve done analysis that looks at net spend in January and how that correlates with changes in points-per-game after the window,” says Omar Chaudhuri, chief intelligence officer for the research company Twenty First Group. “If you look across the ‘big five’ European leagues over time, there is no correlation.”
Chaudhuri points to a report that his company authored in 2017, which essentially calculated that the average club gained virtually no benefit from spending money on players in January. “Even a net spend of €30million (£25.7m; €32.5m) more than the average club has generated just 0.1 points per game,” read that report.
“Another interesting one,” adds Chaudhuri, “is my colleague did some analysis that looked at strikers bought in January in the big five leagues since 2012, and found that 40 per cent of them didn’t even score a goal in the remainder of that season.”
There are examples of January spending working brilliantly. Virgil van Dijk and Bruno Fernandes were signed in this window and have gone on to be hugely valuable players for Liverpool and Manchester United, but they were long-term targets rather than impulse mid-season buys.

Other positive recent examples of winter recruitment include what Newcastle did in January 2022, their first window under the ownership of the Saudi Public Investment Fund, when the signings of Kieran Trippier, Dan Burn, Bruno Guimaraes and Chris Wood helped them move from the relegation zone to a comfortable 11th-place finish. It also worked for Palace this month in 2017, when Jeffrey Schlupp, Patrick van Aanholt and Luka Milivojevic (along with the appointment of Sam Allardyce as manager late the previous month) came in and were influential in them rising from the bottom three when the window closed to survival in 14th, seven points clear of the drop, four months later.
Virgil van Dijk was a long-term Liverpool target (Andrew Powell/Liverpool FC via Getty Images)
“There are opportunities to spend in January, but it’s not going to make or break your season,” says Chaudhuri. “Ultimately, it’s a function of how smart that recruitment is, but a lot of other things are going to influence the second half of your season. Your fixture list, the managers, whether you have any youngsters coming through… a lot of clubs might see January as a chance to fix their season, but it’s a bit of a loss, really, unless you’re excellent at recruitment.”
So the rest of the month may be quiet, boring even. But could that be a good thing?
From a financial perspective, it’s probably healthy that clubs are being weaned off the idea of spending money they might not have. On a more conceptual level though, might it be better for us all to move past the idea that the only solution to a problem in football is to buy someone?
“It’s all quiet, which is good,” said Chelsea head coach Mauricio Pochettino this week, which isn’t a surprise — the last thing he needs is more players to try to integrate. It was arguably the challenge of having to knit together so many signings that cost Pochettino’s Nottingham Forest counterpart Steve Cooper his job last month.
This might be temporary. It’s possible that by January 2025, all of the factors outlined here will have diminished in importance and the splurge will be on again. But, for now, it looks like this transfer window will gently click shut at 11pm UK time a week on Thursday, with not a lot having happened.
It’s probably for the best.
(Top photos: Getty Images; design: Eamonn Dalton)
Culture
What America’s Main Characters Tell Us
Literature
Oedipa Maas from ‘The Crying of Lot 49’ (1966) by Thomas Pynchon
“The unforgettable, cartoonish protagonist of this unusually short novel is a California housewife accidentally turned private investigator and literary interpreter, and the mystery she’s attempting to solve — or, more specifically, the conspiracy she stumbles upon — is nothing less than capitalism itself,” says Ngai, 54. “As Oedipa traces connections between various crackpots, the novel highlights the peculiarly asocial sociality of postwar U.S. society, which gets figured as a network of alienations.”
Sula Peace from ‘Sula’ (1973) by Toni Morrison
“Sula arguably begins to disappear as soon as she’s introduced — despite the fact that the novel bears her name. Other characters die quickly, or are noticeably flat. This raises the politically charged question of who gets to ‘develop’ or be a protagonist in American novels and who doesn’t. The novel’s unusual character system is part of its meditation on anti-Black racism and historical violence.”
The speaker of ‘Lunch Poems’ (1964) by Frank O’Hara
“Lyric poems are fundamentally different from narrative fiction in part because they have speakers as opposed to narrators. Perhaps it’s a stretch to nominate the speaker of ‘Lunch Poems’ as a main character, but this book changed things by highlighting the centrality of queer counterpublics to U.S. culture as a whole, and by exploring the joys and risks of everyday intimacy with strangers therein.”
This interview has been edited and condensed.
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Culture
Poetry Challenge: Memorize “The More Loving One” by W.H. Auden
Let’s memorize a poem! Not because it’s good for us or because we think we should, but because it’s fun, a mental challenge with a solid aesthetic reward. You can amuse yourself, impress your friends and maybe discover that your way of thinking about the world — or even, as you’ll see, the universe — has shifted a bit.
Over the next five days, we’ll look closely at a great poem by one of our favorite poets, and we’ll have games, readings and lots of encouragement to help you learn it by heart. Some of you know how this works: Last year more Times readers than we could count memorized a jaunty 18-line recap of an all-night ferry ride. (If you missed that adventure, it’s not too late to embark. The ticket is still valid.)
This time, we’re training our telescopes on W.H. Auden’s “The More Loving One” — a clever, compact meditation on love, disappointment and the night sky.
Here’s the first of its four stanzas, read for us by Matthew McConaughey:
The More Loving One
Looking up at the stars, I know quite well
That, for all they care, I can go to hell,
But on earth indifference is the least
We have to dread from man or beast.
Matthew McConaughey, actor and poet
In four short lines we get a brisk, cynical tour of the universe: hell and the heavens, people and animals, coldness and cruelty. Commonplace observations — that the stars are distant; that life can be dangerous — are wound into a charming, provocative insight. The tone is conversational, mixing decorum and mild profanity in a manner that makes it a pleasure to keep reading.
Here’s Tracy K. Smith, a former U.S. poet laureate, with the second stanza:
How should we like it were stars to burn
With a passion for us we could not return?
If equal affection cannot be,
Let the more loving one be me.
Tracy K. Smith, poet
These lines abruptly shift the focus from astronomy to love, from the universal to the personal. Imagine how it would feel if the stars had massive, unrequited crushes on us! The speaker, couching his skepticism in a coy, hypothetical question, seems certain that we wouldn’t like this at all.
This certainty leads him to a remarkable confession, a moment of startling vulnerability. The poem’s title, “The More Loving One,” is restated with sweet, disarming frankness. Our friend is wearing his heart on his well-tailored sleeve.
The poem could end right there: two stanzas, point and counterpoint, about how we appreciate the stars in spite of their indifference because we would rather love than be loved.
But the third stanza takes it all back. Here’s Alison Bechdel reading it:
Admirer as I think I am
Of stars that do not give a damn,
I cannot, now I see them, say
I missed one terribly all day.
Alison Bechdel, graphic novelist
The speaker downgrades his foolish devotion to qualified admiration. No sooner has he established himself as “the more loving one” than he gives us — and perhaps himself — reason to doubt his ardor. He likes the stars fine, he guesses, but not so much as to think about them when they aren’t around.
The fourth and final stanza, read by Yiyun Li, takes this disenchantment even further:
Were all stars to disappear or die,
I should learn to look at an empty sky
And feel its total dark sublime,
Though this might take me a little time.
Yiyun Li, author
Wounded defiance gives way to a more rueful, resigned state of mind. If the universe were to snuff out its lights entirely, the speaker reckons he would find beauty in the void. A starless sky would make him just as happy.
Though perhaps, like so many spurned lovers before and after, he protests a little too much. Every fan of popular music knows that a song about how you don’t care that your baby left you is usually saying the opposite.
The last line puts a brave face on heartbreak.
So there you have it. In just 16 lines, this poem manages to be somber and funny, transparent and elusive. But there’s more to it than that. There is, for one thing, a voice — a thinking, feeling person behind those lines.
When he wrote “The More Loving One,” in the 1950s, Wystan Hugh Auden was among the most beloved writers in the English-speaking world. Before this week is over there will be more to say about Auden, but like most poets he would have preferred that we give our primary attention to the poem.
Its structure is straightforward and ingenious. Each of the four stanzas is virtually a poem unto itself — a complete thought expressed in one or two sentences tied up in a neat pair of couplets. Every quatrain is a concise, witty observation: what literary scholars call an epigram.
This makes the work of memorization seem less daunting. We can take “The More Loving One” one epigram at a time, marvelling at how the four add up to something stranger, deeper and more complex than might first appear.
So let’s go back to the beginning and try to memorize that insouciant, knowing first stanza. Below you’ll find a game we made to get you started. Give it a shot, and come back tomorrow for more!
Play a game to learn it by heart. Need more practice? Listen to Ada Limón, Matthew McConaughey, W.H. Auden and others recite our poem.
Question 1/6
Looking up at the stars, I know quite well That, for all they care, I can go to hell,
Tap a word above to fill in the highlighted blank.
Your first task: Learn the first four lines!
Let’s start with the first couplet. Fill in the rhyming words.
Monday
Love, the cosmos and everything in between, all in 16 lines.
Tuesday (Available tomorrow)
What’s love got to do with it?
Wednesday (Available April 22)
How to write about love? Be a little heartsick (and the best poet of your time).
Thursday (Available April 23)
Are we alone in the universe? Does it matter?
Friday (Available April 24)
You did it! You’re a star.
Ready for another round? Try your hand at the 2025 Poetry Challenge.
Edited by Gregory Cowles, Alicia DeSantis and Nick Donofrio. Additional editing by Emily Eakin,
Joumana Khatib, Emma Lumeij and Miguel Salazar. Design and development by Umi Syam. Additional
game design by Eden Weingart. Video editing by Meg Felling. Photo editing by Erica Ackerberg.
Illustration art direction by Tala Safie.
Illustrations by Daniel Barreto.
Text and audio recording of “The More Loving One,” by W.H. Auden, copyright © by the Estate of
W.H. Auden. Reprinted by permission of Curtis Brown, Ltd. Photograph accompanying Auden recording
from Imagno/Getty Images.
Culture
Famous Authors’ Less Famous Books
Literature
‘Romola’ (1863) by George Eliot
Who knew that there’s a major George Eliot novel that neither I nor any of my friends had ever heard of?
“Romola” was Eliot’s fourth novel, published between “The Mill on the Floss” (1860) and “Middlemarch” (1870-71). If my friends and I didn’t get this particular memo, and “Romola” is familiar to every Eliot fan but us, please skip the following.
“Romola” isn’t some fluky misfire better left unmentioned in light of Eliot’s greater work. It’s her only historical novel, set in Florence during the Italian Renaissance. It embraces big subjects like power, religion, art and social upheaval, but it’s not dry or overly intellectual. Its central character is a gifted, freethinking young woman named Romola, who enters a marriage so disastrous as to make Anna Karenina’s look relatively good.
It probably matters that many of Eliot’s other books have been adapted into movies or TV series, with actors like Hugh Dancy, Ben Kingsley, Emily Watson and Rufus Sewell. The BBC may be doing even more than we thought to keep classic literature alive. (In 1924, “Romola” was made into a silent movie starring Lillian Gish. It doesn’t seem to have made much difference.)
Anthony Trollope, among others, loved “Romola.” He did, however, warn Eliot against aiming over her readers’ heads, which may help explain its obscurity.
All I can say, really, is that it’s a mystery why some great books stay with us and others don’t.
‘Quiet Dell’ (2013) by Jayne Anne Phillips
This was an Oprah Book of the Week, which probably disqualifies it from B-side status, but it’s not nearly as well known as Phillips’s debut story collection, “Black Tickets” (1979), or her most recent novel, “Night Watch” (2023), which won her a long-overdue Pulitzer Prize.
Phillips has no parallel in her use of potent, stylized language to shine a light into the darkest of corners. In “Quiet Dell,” her only true-crime novel, she’s at the height of her powers, which are particularly apparent when she aims her language laser at horrific events that actually occurred. Her gift for transforming skeevy little lives into what I can only call “Blade Runner” mythology is consistently stunning.
Consider this passage from the opening chapter of “Quiet Dell”:
“Up high the bells are ringing for everyone alive. There are silver and gold and glass bells you can see through, and sleigh bells a hundred years old. My grandmother said there was a whisper for each one dead that year, and a feather drifting for each one waiting to be born.”
The book is full of language like that — and of complex, often chillingly perverse characters. It’s a dark, underrecognized beauty.
‘Solaris’ (1961) by Stanislaw Lem
You could argue that, in America, at least, the Polish writer Stanislaw Lem didn’t produce any A-side novels. You could just as easily argue that that makes all his novels both A-side and B-side.
It’s science fiction. All right?
I love science and speculative fiction, but I know a lot of literary types who take pride in their utter lack of interest in it. I always urge those people to read “Solaris,” which might change their opinions about a vast number of popular books they dismiss as trivial. As far as I know, no one has yet taken me up on that.
“Solaris” involves the crew of a space station continuing the study of an aquatic planet that has long defied analysis by the astrophysicists of Earth. Part of what sets the book apart from a lot of other science-fiction novels is Lem’s respect for enigma. He doesn’t offer contrived explanations in an attempt to seduce readers into suspending disbelief. The crew members start to experience … manifestations? … drawn from their lives and memories. If the planet has any intentions, however, they remain mysterious. All anyone can tell is that their desires and their fears, some of which are summoned from their subconsciousness, are being received and reflected back to them so vividly that it becomes difficult to tell the real from the projected. “Solaris” has the peculiar distinction of having been made into not one but two bad movies. Read the book instead.
‘Fox 8’ (2013) by George Saunders
If one of the most significant living American writers had become hypervisible with his 2017 novel, “Lincoln in the Bardo,” we’d go back and read his earlier work, wouldn’t we? Yes, and we may very well have already done so with the story collections “Tenth of December” (2013) and “Pastoralia” (2000). But what if we hadn’t yet read Saunders’s 2013 novella, “Fox 8,” about an unusually intelligent fox who, by listening to a family from outside their windows at night, has learned to understand, and write, in fox-English?: “One day, walking neer one of your Yuman houses, smelling all the interest with snout, I herd, from inside, the most amazing sound. Turns out, what that sound is, was: the Yuman voice, making werds. They sounded grate! They sounded like prety music! I listened to those music werds until the sun went down.”
Once Saunders became more visible to more of us, we’d want to read a book that ventures into the consciousness of a different species (novels tend to be about human beings), that maps the differences and the overlaps in human and animal consciousness, explores the effects of language on consciousness and is great fun.
We’d all have read it by now — right?
‘Between the Acts’ (1941) by Virginia Woolf
You could argue that Woolf didn’t have any B-sides, and yet it’s hard to deny that more people have read “Mrs. Dalloway” (1925) and “To the Lighthouse” (1927) than have read “The Voyage Out” (1915) or “Monday or Tuesday” (1921). Those, along with “Orlando” (1928) and “The Waves” (1931), are Woolf’s most prominent novels.
Four momentous novels is a considerable number for any writer, even a great one. That said, “Between the Acts,” her last novel, really should be considered the fifth of her significant books. The phrase “embarrassment of riches” comes to mind.
Five great novels by the same author is a lot for any reader to take on. Our reading time is finite. We won’t live long enough to read all the important books, no matter how old we get to be. I don’t expect many readers to be as devoted to Woolf as are the cohort of us who consider her to have been some sort of dark saint of literature and will snatch up any relic we can find. Fanatics like me will have read “Between the Acts” as well as “The Voyage Out,” “Monday or Tuesday” and “Flush” (1933), the story of Elizabeth Barrett Browning’s cocker spaniel. Speaking for myself, I don’t blame anyone who hasn’t gotten to those.
I merely want to add “Between the Acts” to the A-side, lest anyone who’s either new to Woolf or a tourist in Woolf-landia fail to rank it along with the other four contenders.
As briefly as possible: It focuses on an annual village pageant that attempts to convey all of English history in a single evening. The pageant itself interweaves subtly, brilliantly, with the lives of the villagers playing the parts.
It’s one of Woolf’s most lusciously lyrical novels. And it’s a crash course, of sorts, in her genius for conjuring worlds in which the molehill matters as much as the mountain, never mind their differences in size.
It’s also the most accessible of her greatest books. It could work for some as an entry point, in more or less the way William Faulkner’s “As I Lay Dying” (1930) can be the starter book before you go on to “The Sound and the Fury” (1929) or “Absalom, Absalom!” (1936).
As noted, there’s too much for us to read. We do the best we can.
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