Premier League clubs are far less active in the January transfer window compared to the summer. Since 2021, teams have spent a staggering £10.5 billion in the summer, but only £1.7 billion in January. Several teams, including Wolves and Burnley, haven't made any signings this January. This pattern is driven by various factors influencing club strategies and player availability.

Former sporting director Joe Savage explains that mid-season moves are complex. Clubs often allocate the bulk of their budget at the start of the season. Also, teams are hesitant to sell their star players mid-season. The loan market becomes more prominent in January as a result. Players are already settled, and the disruption is less significant than a permanent move.

Financial fair play rules also play a role, but not as much as one might think. With amortisation over a player's contract length, the impact on a club's accounts is limited. Instead, clubs focus on securing players on loan or making lower-cost signings to bolster the squad. Agent considerations also influence the process.

For players, January moves can be challenging. There's no pre-season to integrate, and settling into a new team and city mid-season is difficult. However, as Phil Jagielka experienced, it can also provide a fresh opportunity. Ultimately, clubs weigh risks and rewards when deciding whether to delve into the January market.