Manchester United are top of the table ahead of their crunch Premier League clash with rivals Liverpool and they have already completed some January business.
Amad Diallo has finalised his switch from Atalanta and Timothy Fosu-Mensah has joined Bayer Leverkusen in search of more regular first-team football.
There is plenty more business that could be done before the window slams shut, with potential incomings and outgoings all linked.
There are several senior stars whose contracts are due to expire at the end of the season and they could finalise pre-contract agreements this month.
With all that in mind, here are the latest transfer rumours from around Old Trafford.
Fred urges Pogba to stay
Paul Pogba's contract is coming to an end in 2022 and his agent Mino Raiola has claimed the midfielder will leave United in the summer.
However, Pogba's team-mate Fred has urged the France international to sign a new deal and stay put at Old Trafford, telling Globo Esporte: "He [Pogba] is one of the guys who works hard, works hard, is very serious in training .
"Inside the locker room is a guy who helps us, is always in a good mood. We hope so much that he can stay, everyone knows his quality, this is indisputable.
"It helps us a lot on and off the field and donates to the maximum, whenever we donate to the maximum it makes great matches. And we hope he stays and is always at his best."
Solskjaer open to more departures
United boss Ole Gunnar Solskjaer has refused to rule out more players leaving this summer, with the likes of Marcos Rojo, Sergio Romero and Jesse Lingard among those linked with exits either permanently or on loan.
Speaking to the club's official website, Solskjaer said: "You can’t really say no because, in football, things just crop up.
"There are opportunities that we can’t really say no to and, if it’s the best for the club and the player, then it’s something we'll look at.
"At the moment I can’t update you on any of them, I don’t really know where any negotiations are [up to]."
Valencia targeting Mata swoop
Spanish publication La Razon claims that Juan Mata could be set for a return to Valencia, with the club's owner Peter Lim reportedly keen on the move.
Mata is out of contract with United at the end of the season and Lim is hoping Valencia can strengthen their squad without having to fork out a transfer fee.
However, the report notes that a move to Valencia is unlikely to be an attractive move for Mata, with the club just three points off the relegation zone.