January Transfer Window: Premier League Spending Continues at Record Pace
Table of Contents
A surge in activity has marked the opening days of the January transfer window, following a record-breaking summer that saw Premier League clubs invest £3 billion ($4 billion). The question now is whether this elevated spending will continue as teams look to bolster their squads for the second half of the season. Here’s an assessment of the major confirmed moves in the men’s game, graded and analyzed as of January 2, 2026.
Summer Spending Sets the Stage
Prior to the current window, Premier League clubs shattered previous records, exceeding the £2.36 billion ($3.2 billion) spent two summers prior. This aggressive investment has raised expectations for performance and placed increased scrutiny on clubs’ January strategies.
January 2: Key Moves and Assessments
Several significant deals were finalized on January 2, offering early insights into the priorities of top clubs.
Brennan Johnson to Crystal Palace: A Solid Fit (Grade: A for Crystal Palace, B- for Tottenham Hotspur)
Brennan Johnson’s move from Tottenham Hotspur to Crystal Palace for £35 million ($47 million) appears to be a mutually beneficial transaction. While the Wales international enjoyed success at Tottenham, scoring the winning goal in the Europa League final after leveraging his speed and ability to finish at the back post, his role diminished following the arrival of Thomas Frank in June. He made only eight starts in the Premier League and Champions League under the new manager.
Crystal Palace, facing a squad depleted by injuries and a demanding schedule, gains a dynamic attacker whose counter-attacking pace aligns with the manager’s tactical approach. “Crystal Palace is a nice landing spot for him,” one analyst noted. “They are in desperate need of players, and Johnson’s skillset is a good match.” Tottenham, however, may come to regret letting go of a proven goalscorer.
Niclas Füllkrug to AC Milan (Loan with €5m Option): A Low-Risk Gamble (Grade: A for AC Milan, D for West Ham)
West Ham United appears eager to offload Niclas Füllkrug, who has struggled with injuries and form since joining the club. The loan deal with a €5 million ($5.87 million) option for AC Milan allows West Ham to remove his wages from the books, but the lack of a guaranteed sale presents a potential issue. As one source stated, “The problem with this deal from their perspective is there’s no finality to it.”
AC Milan, under Max Allegri, has secured a cost-effective, short-term solution to bolster their attack. Füllkrug, if fit, could provide valuable depth and impact off the bench. The option to purchase him permanently for a modest fee makes this a shrewd piece of business for the Italian club.
January 1: Early Window Highlights
The first day of the window saw a loan deal that could significantly impact a young player’s development and a promising talent arrive in the Premier League.
Endrick Loan to Lyon: A Crucial Step in Development (Grade: A for both Real Madrid and Lyon)
Endrick’s loan move from Real Madrid to Lyon is a win-win situation. The 19-year-old Brazilian has seen limited playing time at Real Madrid, appearing for just 99 minutes across all competitions. To enhance his development and potentially earn a place in Brazil’s 2026 FIFA World Cup squad, regular first-team football is essential.
Lyon, whose No. 9 has scored only two goals in Ligue 1 this season, provides the ideal environment for Endrick to flourish. Reports indicate that Lyon is contractually obligated to give him significant playing time. “For a club whose top-scoring No. 9 in Ligue 1 this season has just two goals, it’s an exciting acquisition,” a senior official stated.
Alysson to Aston Villa: A Promising, Early Investment (Grade: B+ for Aston Villa, C+ for Grêmio)
Aston Villa secured Alysson, an exciting attacking prospect from Grêmio, for £8.7 million ($11.7 million). The right-footed left winger possesses strong one-vs.-one skills and demonstrates a willingness to contribute defensively. While the move represents a significant step up in competition for the young Brazilian, Grêmio’s financial difficulties created a market opportunity for Villa to capitalize on.
Villa’s scouting team identified a profile lacking in their current squad, making this a logical acquisition. The key question remains how quickly Alysson can adapt to the demands of the Premier League.
The January transfer window is still in its early stages, but these initial moves suggest that Premier League clubs are continuing to invest heavily in talent, signaling a sustained period of high spending.
