The transfer window is SHUT! Premier League teams now have their squads in place until the end of the season.
So where does this leave the teams at the top? Can Arsenal challenge Liverpool for the title despite not signing anybody? Is Marcus Rashford's move from Manchester United to Aston Villa the best business of the window - for all three parties?
What about struggling Tottenham and United? Can they change their fortunes in the second half of the season? Liverpool are not out of the woods, with Virgil van Dijk, Trent Alexander-Arnold and Mohamed Salah still out of contract in June.
Sky Sports' Paul Merson delivers his January transfer window verdict for the traditional 'Big Six' plus Aston Villa. Read below for the Magic Man's thoughts...
"Arsenal still needed a striker. When the Man City game went 1-1, you thought of Kai Havertz's chance for 2-0. They went on to win the game comfortably but it could have gone the other way.
"A natural goalscorer scores that goal. Of course, Havertz got his goal, which is harder than the one he missed.
"But unless they got Ollie Watkins, I didn't see the reason for them going to get one. They might as well wait for next season.
"If they got him for £70m or £80m for £200,000 a week, for the next six or seven months that's £3m in wages.
"If Liverpool win their game in hand at Everton next week, even if Arsenal had Erling Haaland they wouldn't win the league. Nine points is a lot with the amount of games left."
"Marcus Rashford has an unbelievable opportunity, he's going to one of the top teams in the Premier League. Great club, great support.
"It's a huge gamble for Ruben Amorim. But if this doesn't work...
"At Villa, one of the players is going to miss out - a Jacob Ramsey or someone. Maybe they're alright now as Ollie Watkins is injured.
"I just worry that it's been a long time for Rashford, you can't just turn it on a tap. There have been problems.
"I hope he gets it sorted for Villa and the lad's sake because his career will finish quickly if it doesn't. He's been given an unbelievable opportunity at a great club and he has to take it.
"If he starts playing well again, he will get back in the England team - 100 per cent. He's good for tournament football, he can play in multiple positions - up front, wide and he can come deeper. It makes a difference picking squads for a tournament.
"But he's got to do it. It's not as easy as put shirt on, move ground, here we go. It's been a long time. I hope I'm wrong.
"For the manager Unai Emery, you can look from afar and go, 'I can sort him out'. He hasn't got long left, he's 27. I hate seeing talent like this go to waste, he can play."
"I don't think Chelsea are anywhere near the Premier League title at the moment defensively. They have good young centre-halves but they're going to make mistakes every now and again.
"They are going to need to bring in an experienced centre-half - a 26-year-old to 29-year-old who will sit next to Levi Colwill. I would be more than pleased if Marc Guehi signed for Chelsea. But for me, no-one will win anything without a top goalkeeper.
"You can go through every team who has won the Premier League, no-one has won it with an alright goalkeeper. Liverpool have two of the best, Man City in the last four years have had the top goalkeeper in the world. That would be my problem at the moment.
"I thought it got toxic for Robert Sanchez against Wolves at Stamford Bridge when his mistake made it 1-1. It's a big call.
"I like the goalie but I don't think he has high enough concentration levels for a club like Chelsea where you don't have a lot to do.
"Every goalkeeper in the Premier League are all good shot stoppers, the difference between the top-level ones and the others is just concentration.
"David Raya against Man City had nothing to do for 20 minutes, he's at the other end thinking the game should be done. He then saves Josko Gvardiol's header and it was mind-blowing.
"Sanchez had nothing to do against Wolves and then drops the corner. Then the fans are on his back. He's a good shot stopper but the crowd get on his back when he makes a mistake."
"I don't think any of Mohamed Salah, Trent Alexander-Arnold or Virgil van Dijk stay if Liverpool win the Premier League this season. I don't see why they haven't signed now?
"It's a lot of money and every week that goes past - and it's been a lot now - we're talking millions they're losing by not committing by now, millions.
"No-one has signed yet. Why wouldn't you sign?
"When Liverpool won the league last time, they won it in Covid. It wasn't the same, nobody was there. Everybody there wants Liverpool to win it in front of the Kop and in front of their fans again.
"But if they won it again, all three of them will go. I don't know what else they can do at Liverpool. It's the holy grail, winning in front of the Kop. It wasn't the same last time, it was sad to see.
"If this was Man City in this position now, we'd be talking about the quadruple. Nobody talks about it when Liverpool have a chance and they do."
"I've not seen Nico Gonzalez play so don't know too much about him. But they need players in midfield.
"A lot of people say it's not just Rodri. But it is just Rodri. Rodri sees danger, Rodri is disciplined, Rodri stays in the centre, he gets forward and sits back and protects the backline and he passes the ball through the line very quickly.
"I like Mateo Kovacic but him and Bernardo Silva just got ruined in the last 30 minutes at Arsenal.
"The issue is that Gonzalez comes in for £50m but as soon as Rodri's fit, that's it. I don't think he plays. Unless you play them together and I don't think you need to.
"This is the problem with wages and buying players, you forget that by the start of next season, this guy is sitting on the bench with big money.
"You then look at James McAtee with a brilliant young future and they will have to sell him for the fair play rules. It's a knock-on effect. They must be panicking badly to get into the top four."
"The manager is running out of ideas at the moment. He's struggling badly.
"What he's done with the Rashford situation is mind-blowing. His job is on the line at this rate. If Rashford gets 10 goals in 10 games and Man Utd carry on the way they're playing, then the board will be asking the question, 'what are you doing?'
"I think Rashford might be one of them where the Villa fans and the manager will open their arms to him and he will go, 'I'm going to show that Amorim - you bad mouthed me, embarrassed me by saying I wouldn't get in over a 63-year-old goalkeeper coach'.
"It could end very badly for Amorim - he would be under severe pressure if they keep playing badly and Rashford starts ripping it up at Villa. He wouldn't be the Man Utd manager for long!
"Man Utd should get Jean-Philippe Mateta, that's what they need. He's a strong lad up front, playing at the top of his game, he leads the line, scoring goals now. He runs and works his socks off harder than anyone you know.
"But they won't because he plays for Crystal Palace. Everyone would go, 'what are you buying him for?' But he's 100 times better than anyone Man Utd have in the front line. Not Amad Diallo, he's a young kid - but he's much better than Rasmus Hojlund and Joshua Zirkzee at the moment.
"Man Utd are playing Kobbie Mainoo up front. If you're one of those two centre forwards, I would say, 'I might as well go out on loan and play for Exeter this month'.
"I like Hojlund, he's a young lad. He will get into it - but the club is too big for him at the moment. He makes good runs, he gets in positions, snatches at the moment. But he's a young kid.
"But you're only as good as the people providing you and the people behind him aren't good. Erling Haaland is a brilliant scorer but he won't get 60 goals at Rochdale. He's got unbelievable talent behind him, Kevin De Bruyne and all that.
"But you can see Haaland is drying up because they're bringing other players in now - Savinho and Omar Marmoush from Frankfurt. They're more 'dribbley' players. He hasn't got the De Bruyne and Bernardo Silva's putting the ball on a sixpence, they're playing further back.
"So I feel for Hojlund in that way. But if I was Man Utd, for the next couple of years, I'd get Mateta and get people around him.
"I don't think Man Utd are 11 players away from competing again but you would think six or seven. Man Utd are dipping into the market and buying people from Lecce [Patrick Dorgu]. It's a heads or tails on is it going to work or not?
"These are £25m, £30m, £40m players. Some will be good and they will get lucky, some will be well out of their depth at Man Utd and they will flop. But that's the market they're in right now.
"They haven't got the money to hit the bullseye and it's hard to hit the bullseye. When you're paying £100m you have basically got a proven footballer.
"Dorgu, no disrespect to the lad as I haven't seen him play, but he's playing for Lecce now and he's going to play for Man Utd..."
"The Spurs fans won't be happy with Mathys Tel. As soon as they heard that he didn't want to join and those three other clubs then didn't come in for him and then he ends up at Tottenham, the fans won't be happy with that.
"I didn't think Spurs needed a new forward anyway.
"That's if Heung-Min Son can get back to his best - I don't think he's hit the heights of a few years ago. Dejan Kulusevski, I think he gets into every Premier League team in the country at the moment.
"Then you have Dominic Solanke, who is injured. But Tottenham don't have the money to bring people in for £100,000-a-week for six months and then when everyone is back, they don't play.
"I think they needed a midfield player. I think they don't dominate that area. Pape Sarr is a young lad, Yves Bissouma is not fielding his potential that we thought when he came over from Brighton.
"They get overrun in midfield, that's why they're defensively all over the place - there's never a midfield there.
"The forwards look after themselves but I think they need a top midfielder who can dominate a football match."
