The first of January is a day greeted with mixed emotion by Premier League football managers. Whether it is Newcastle boss Alan Pardew trying to hang on to Demba Ba or Brendan Rodgers bringing in Daniel Sturridge the transfer market is already in full swing.
The big move being touted at the moment is Senegalese International Demba Ba moving to Stamford Bridge from Newcastle. The striker has a seven million pound release clause in his current contract which most clubs would conceivably pay - but it is Chelsea who have shown their hand first currently going through negotiations with the player after they activated the clause.
Chelsea are hoping Ba can take the place of Daniel Sturridge who has officially completed his move to Liverpool. The Englishman was unhappy about his wide role at Stamford Bridge and both parties will be hoping he can shine as the out-and-out forward Liverpool desperately need.
Liverpool meanwhile will be hoping to offload flop Joe Cole at least on-loan to either West Ham or struggling Queens Park Rangers. Rangers' manager Harry Redknapp has already declared an interest in the player - who he worked with at West Ham.
Coming in at Newcastle is France and Lille full-back Mathieu Debuchy. The defender was being courted by Newcastle throughout the summer with his club refusing to accept and bids - but a few months later it appears he will be headed to Tyneside to replace Danny Simpson who has refused contract offers with the club.
One position many clubs are looking to invest in is the striking positions - with seemingly all of the Premier League clubs, bar Manchester United, needing a striker.
Manchester City could be looking to rid themselves of Mario Balotelli in this window following yet more off the field drama. If this were to happen a replacement would be needed and there are plenty of targets available given City's huge financial power in the transfer market.
Arsenal are also looking to sign a frontman following the lackluster showings from summer signing Olivier Giroud. The Frenchman's performances led to Arsene Wenger playing Gervinho up front. Fernando Llorente is up for sale and within the Arsenal price-range.
Arsenal's local rivals Spurs meanwhile could be looking to add to their attack with only two recognised strikers and one potentially going to the African Cup of Nations. The North Londonders have also been linked to 2010 World Cup runner-up Westley Sneijder.
One name the British media have been mentioning with multiple British clubs is David Villa. Swansea, Chelsea, Liverpool and Arsenal have been linked with the Barcelona man - but the club appear to want a permanent transfer ahead of a loan move.
Chelsea legend Frank Lampard appears to be leaving the Blues with his contract up at the end of the season. A January move could be possible with PSG interested - but a shock move back to West Ham could happen in my opinion.
Finally, Jack Butland - the Team GB Olympic goalkeeper is set to leave Championship side Birmingham City with Everton or Liverpool a possible destination.
Predictions for the transfer window:
Biggest Purchase: David Villa - Barcelona to Manchester City - £16 million
Biggest Sell: Mario Balotelli - Manchester City to Milan - £22.5 million
Best Signing: Demba Ba - Newcastle to Chelsea - £7 million
Biggest Flop signing: Joe Cole - Liverpool to QPR - Loan
Biggest Shocker: Frank Lampard - Chelsea to West Ham - £5 million