Not even a global financial crisis has prevented the Premier League's transfer rumour mill going into overdrive as 1 January approaches.
But despite the whirlwind of rumours, the harsh financial reality means this could be one of the quietest new year buying and selling periods on record as clubs opt to make do with the players they already have on their books.
Several clubs could change all that in an instant though. Moneybags Manchester City could spark things into life with one big signing from a Premier League rival, while Portsmouth and West Ham may be forced to sell their more valuable assets simply to balance the books.
BBC Sport, with the help of the corporation's local radio network, looks at the January transfer window's possible comings and goings at every Premier League club.
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Budget: £20-30m
January previous: A mixed bag. In 2006 Arsenal manager Arsene Wenger signed Emmanuel Adebayor, Abou Diaby and Theo Walcott for a combined £14m. Two years previously he spent an initial £10.5m to bring in Jose Antonio Reyes from Sevilla.
What they need: A central midfielder and a domineering centre-half - particularly if William Gallas is sold. "They desperately need leaders," says BBC London commentator Nick Godwin. "Arsenal's lack of strength in depth was horribly exposed against Burnley in the Carling Cup, when their midfield was blown apart."
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What the fans say: "Alex from Chelsea would be a good buy if at all possible. Arshavin seems to be a possibility also. Alonso would probably be out of the question now with his form for Liverpool."
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Budget: £10-15m
January previous: Manager Martin O'Neill pulled off a pair of cracking deals in January 2007, with hitman John Carew and the "world-class" Ashley Young both arriving at Villa Park. Last year, only Wayne Routledge came in.
What they need: A good-in-the-air striker as back-up for Carew, who has only played around half of Villa's games this season. Essentially, a plan B when the pace of Young and Gabriel Agbonlahor does not work.
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Who they might sell: Unless Real Madrid bid £27m or so for Ashley Young, the flying winger is staying put. Back-up striker Marlon Harewood is interesting Stoke and West Brom, while Spurs have been linked with midfielder Nigel Reo-Coker.
What the fans say: "We need a 20+ Premier League-standard goalscorer, a right-back, a cover winger, a left-back and a playmaker."
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Budget: As much as £25m if in-demand striker Roque Santa Cruz leaves but a whole lot less if he does not.
January previous: While at Bolton, Sam Allardyce made only minor tweaks to his squad in January but with Blackburn deep in the mire, it looks like the Rovers boss will have to brave the sales this time.
What they need: A creative central midfielder, a right midfielder and a striker (if Santa Cruz leaves)
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What the fans say: "If Sam can get Roque to stay and start playing again then great. But Blackburn are used to players peaking, then leaving - we have been here before and always moved on fine."
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Budget: £8m
January previous: Gary Megson made several decent buys last year to help keep Bolton up, bringing in Gretar Steinsson, Matthew Taylor and Gary Cahill. But he had less success after acquiring Nathan Tyson, Julian Bennett, Grant Holt and Sammy Clingan at Nottingham Forest in 2006 - he was sacked two weeks after the window closed.
What they need: A centre-back is top of Megson's shopping list but he lacks cover in other areas and will be wary of Blackburn boss Sam Allardyce raiding the Reebok Stadium for some of his old players.
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What the fans say: "We need a creative midfielder - Simon Vukcevic would be my favourite, also a young centre back - Heart's Christophe Berra and possibly another striker - maybe Danny Sturridge from Manchester City."
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Budget: Will be determined by whether they sell. If the right player comes along money could be made available.
January previous: Chelsea tend not to be overly active in January, although they bucked that trend last season by signing Nicolas Anelka, Branislav Ivanovic and Franco di Santo for a combined £27m.
What they need: The club want to keep activity to a minimum but if manager Luiz Felipe Scolari gets his way, he is likely to sign a forward and a defender. "Chelsea need a striker because their reliance on Anelka is becoming painful," says BBC London commentator Nick Godwin. "Michael Essien has a long-term injury but I can't imagine them signing a midfield replacement as they would have done in the past."
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What the fans say: "Wagner Love or Luis Fabiano, if Abramovich opens up the bank. Wouldn't mind seeing off Malouda either."
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Budget: Virtually non-existent - sell to buy at best.
January previous: Manager David Moyes is a reluctant operator in the January transfer market. In 2008 he brought in Manuel Fernandes and Anthony Gardner on loan and took £2m youngster Dan Gosling from Plymouth, while Alan Stubbs and James McFadden left. Moyes did break the then club transfer record to spend £6m on James Beattie from Southampton in 2005 and took Mikel Arteta on loan from Real Sociedad but do not expect big buys this time around.
What they need: A striker - desperately. Yakubu is out for the season, James Vaughan will almost certainly not figure again this term and Louis Saha's injury record needs no introduction. A powerful midfield presence would help but expect Moyes to concentrate on his attack.
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What the fans say: "Kevin Doyle up front and Chris Eagles from Burnley will suffice."
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Budget: £5m.
January previous: Roy Hodgson was a very busy man last year, bringing Jari Litmanen, Paul Stalteri (loan), Tony Kallio, Eddie Johnson, Leon Andreasen and Brede Hangeland into the club and allowing Lee Cook, Steve Davis, Tony Warner, TJ Moncur and Collins John to go.
What they need: A centre midfielder and centre-half, if Hangeland leaves.
Who they might buy: South Africa midfielder Kagiso Dikgacoi will arrive if he can get the work permit that he failed to secure in the summer. Midfielder Benjamin Huggel (FC Basel) and defender Christophe Berra (Hearts) are also on the radar.
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What the fans say: "Hodgson is a very astute manager and I reckon he'll buy low-key players that he believes he can mould to his style of play."
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Budget: £5-10m
January previous: This will be Phil Brown and Hull's first taste of the Premier League's January transfer window. He wasn't a big winter spender in the Championship, although five players were shown the door a year ago.
What they need: A striker, a creative midfielder and central defensive cover.
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Who they might sell: Defender Wayne Brown, midfielders Bryan Hughes and Ryan France and keeper Tony Warner could leave for the right price. Dean Windass appears set to stay, despite his first-team chances being limited this season.
What the fans say: "I'm a little worried whenever rumours pop up about Emile Heskey leaving Wigan because Steve Bruce could easily decide to recall Marlon King from his loan to fill the gap. He's been great for us this season."
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Budget: Probably sell to buy. Owners George Gillett and Tom Hicks are struggling to find the money to build a new stadium and they may feel they have pushed the boat out far enough.
January previous: Manager Rafael Benitez prefers to do his business in the summer but he has spent in January before. He splashed out £6.3m on Real Madrid's Fernando Morientes in 2005 and brought in Javier Mascherano on loan two years later.
What they need: Two quality full-backs would be beneficial. Alvaro Arbeloa is unconvincing, while Andrea Dossena and Phillip Degan have failed to get to grips with the Premier League. A striker in the target-man mould would appear to be a priority. Liverpool might also like to add quality on the right side.
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What the fans say: "I'd like to see Michael Owen and Ashley Young join the Reds. Owen's a goal poacher, which we badly need, and Young is a player with pace who actually knows how to use it, and can score goals."
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Budget: £40m-£80m
January previous: Manager Mark Hughes is a seasoned January shopper. Over the course of his four-year reign at Blackburn he brought Aaron Mokoena, Ryan Nelsen, Robbie Savage, David Dunn, Stephen Warnock and Christopher Samba to Ewood Park in mid-season. If the players he brings to Eastlands have the same impact, then expect City to climb the table.
What they need: A striker, holding midfielder and a left-back are Hughes' priorities. But he also needs an experienced back-up to goalkeeper Joe Hart and an alternative to Robinho on the left because Martin Petrov is out with a long-term injury.
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What the fans say: "Michael Owen and Emile Heskey would be a good start, and I'd leave Roque Santa Cruz on the bench. Steve Harper from Newcastle, anyone? Very experienced, very capable, very patient understudy to Shay Given but I doubt that he'd leave."
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Budget: £20m, although United manager Sir Alex Ferguson claims he will not use it.
January previous: Sir Alex Ferguson generally avoids doing business in January - his only significant permanent signings were Patrice Evra and Nemanja Vidic arriving in 2006 - and both took time to settle in. He is capable of springing a surprise, however. Remember when Henrik Larsson joined on loan in 2007?
What they need: How do you improve a squad that won the Premier League, Champions League and Club World Cup in 2008? Midfielder Owen Hargreaves is out for the season but United have plenty of cover in that position, although they may need a back-up goalkeeper if Ben Foster leaves.
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What the fans say: "Players are usually overpriced in January because of the hype that comes with the short period, so I think it's better to avoid making big signings. A few youngsters might come in I suppose. Our first 11 and squad is very strong so it's not like we need anyone really."
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Budget: Zilch. Manager Gareth Southgate has been told he will have to sell before he buys.
January previous: In 2007 the club used January to get rid of Massimo Maccarone and Ugo Ehiogu, while last year they paid £12m to bring in Afonso Alves and sold Jonathan Woodgate for £8m.
What they need: Alastair Brownlee of BBC Radio Tees believes that the centre of midfield could do with strengthening. "They are a bit thin in that area," he says. "If they were to lose the likes of Gary O'Neil they would be relying on a youngster like Josh Walker to fill in."
Who they might buy: "Up and coming players from the continent," adds Brownlee. "The Serbian Nemanja Matic, who has been on trial, is the sort they are looking for."
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What the fans say: "Get rid of Andrew Taylor and bring in Wayne Bridge - simple as."
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Budget: About £12m
January previous: The club have opted against any major moves in January in recent years - unless you count Fabio Zamblera, Ben Tozer and Oguchi Onyewu.
What they need: Manager Joe Kinnear has earmarked two players to bolster their squad - at least one is likely to be a left-back.
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Who they might sell: Not Michael Owen if all the noises coming from player and manager are correct. Owen is one of seven players whose contract ends in the summer but looks set to see out his current deal. Charles N'Zogbia has hinted at leaving, while midfielders Joey Barton and Nicky Butt have also been linked with moves away.
What the fans say: "We need a left-back to rival Jose Enrique first and foremost. That is top priority. Getting rid of deadwood such as Cacapa, Edgar and maybe Carroll would also help."
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Budget: Minimal, although the coffers received a boost with the £20m sale of Lassana Diarra.
January previous: Former boss Harry Redknapp was a notorious wheeler-dealer, with Jermain Defoe and Diarra joining in January last year. His replacement Tony Adams faces a vastly different financial situation now though, with the club reportedly £32m in debt.
What they need: Not to lose any more of their best players. A right-sided midfielder and a Diarra replacement would come in handy too.
Who they might buy: Who comes in depends on who goes out. Tony Adams says he is expecting a "boring January" with perhaps one or two signings - but he will surely be forced to dabble a bit further if any more of his star players are sold. He has already made Nadir Belhadj's loan deal permanent, Le Mans keeper Yohann Pele has been linked, Gary O'Neil is thought to be keen to return from Middlesbrough, while Adams is also said to be a fan of young Chelsea defender Jack Cork.
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What the fans say: "January is going to be a VERY twitchy month for every Pompey fan. Let's just hope all the rumours are just that - rumours."
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Budget: £5-8m - or more if the right player is available
January previous: Tony Pulis hasn't been shy to dabble in the January market. He splashed out £6.2m a year ago to put the finishing touches on Stoke's promotion push, although several players were also shipped out.
What they need: A striker, a winger and ideally a centre-half and a creative central midfielder.
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Who they might sell: Pulis may listen to offers for Dave Kitson, who has failed to score since his £5.5m summer signing from Reading. Fringe players such as Andy Wilkinson and Carl Dickinson could also be sacrificed.
What the fans say: "The first thing we need is a left winger; cue Joe Ledley."
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Budget: New manager Ricky Sbragia has been promised some funds but is unlikely to be given the blank chequebook afforded to previous boss Roy Keane.
January previous: Keane rarely let a transfer window shut without first throwing a suitcase of cash through it, with mixed success. Carlos Edwards and loans for Jonny Evans and Danny Simpson in 2007 proved fine additions, while £8m was spent last year. But it will be a step into the unknown for Sbragia.
What they need: BBC Radio Newcastle's Nick Barnes says midfield and defence are the priorities. "Someone who can sit on the ball, disrupt things and is a bit more aggressive than they have already is needed. They don't dominate that area enough. Sbragia has earmarked a centre-half but possibly some cover at full-back could also be on his list."
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What the fans say: "We need to trim the squad quite drastically - the wage bill must be immense."
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Budget: £15-20m
January previous: Despite consistently maintaining January is not the best time to pick up bargains, chairman Daniel Levy has always put his hand in his pocket post-Christmas. Last year Gilberto, Chris Gunter, Alan Hutton and Jonathan Woodgate were signed at a cost of about £20m.
What they need: Striker, central defender, full-back, left winger, keeper.
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What the fans say: "Harry always springs surprises, transfers are his stock in trade."
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Budget: Chairman Jeremy Peace says no money will be made available.
January previous: Baggies boss Tony Mowbray has not been a compulsive January spender, with two ins and two outs in both 2007 and 2008. Snaring Robert Koren on a free two years ago, however, was a stunning bit of business and he will want to wave that magic wand once again.
What they need: Goals, goals, goals. Only 16 from 20 games tells its own story but who will sell them a 15-goal striker in January? Also, a get-stuck-in midfielder. A Robbie Savage circa 2005 would go down a treat at The Hawthorns.
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Who they might sell: No-one they cannot do without. Though the fact that left-back Paul Robinson is rumoured to be interesting Celtic might cause a few heart murmurs in the West Midlands.
What the fans say: "Mowbray's already said he's got nothing to spend. If we could get the two Arsenal kids (Vela and Jay Simpson) on loan and a defensive midfielder, that'd do me."
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Budget: £0
January previous: Sales have been the order of the day for longer than West Ham fans care to remember. Christian Dailly, Bondz Ngala, Hogan Ephraim all left last January, while Valon Behrami - signed in the summer - is the only big-money arrival at Upton Park in 2008.
What they need: Given the club owners' financial problems and the threat of the Carlos Tevez case being settled in favour of Sheffield United soon, January looks likely to be about attempting to replace outgoings rather than strengthening.
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What the fans say: "We should look at Jerome Thomas or James McFadden - we need creativity. We need to lose timewasters like Lee Bowyer."
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Budget: Depends if Emile Heskey, who is out of contract in the summer and could leave then for nothing, is sold now. He could fetch £4m and that would all go on a replacement striker.
January previous: The £1m that boss Steve Bruce paid for Wilson Palacios on 11 January 2008 looks a bargain. The £5m he spent on Marlon King a couple of weeks later was not quite such good business.
What they need: "If Heskey goes, they will need a striker," says BBC Radio Manchester reporter Paul Rowley. "Tottenham and Aston Villa are supposedly interested and, if they make a decent offer, the chairman could accept it even if the manager wants to keep him.
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