For the sides doing well, some good new additions at this mid-season point could be the difference between trophy success or European qualification.
Teams currently outside the top four of the standings are under even more pressure, with the potentially dire financial consequences of not qualifying for the UEFA Champions League facing them if they cannot strengthen their squad appropriately in the month ahead.
However, the January transfer window is not just about buying new players. Often, there are players going out of the clubs as well—those who need to be taken off the wage-bill or sold due to poor performances, making space for potential replacement.
On that note we begin in no specific order.
ARSENAL: GERVINHO:
On 12 July 2011 Gervinho completed a transfer from Lille to Arsenal for a fee believed to be around £10.8 million. Gervinho was given the number 27 shirt, which was last worn by Côte d'Ivoire teammate Emmanuel Eboué who was already on the verge of leaving the club. He made his debut in a pre-season friendly match against 1. FC Köln, in which he scored a brace within the first 15 minutes. He was sent off on his Premier League debut against Newcastle United for slapping Joey Barton. The game finished 0–0. This resulted in a standard three-match ban for violent conduct. Alan Pardew (manager of Newcastle United) accused Gervinho of diving when Cheick Tioté challenged him inside the box. He scored his first league goal in a 4–3 loss to Blackburn Rovers. On 23 October 2011 Gervinho followed this up by contributing to all three goals in Arsenal's 3–1 win over Stoke City, scoring the first and assisting both of Robin van Persie's goals. He then scored his third goal for Arsenal on 3 December 2011, in a 4–0 win at Wigan Athletic, scoring the third goal of the match in a comfortable victory. He scored his fourth goal of his time at Arsenal on 27 December 2011 in the 1–1 draw against Wolves. Gervinho then departed for the Africa Cup of Nations after a 2–1 defeat to Fulham. Gervinho made his return on 18 February 2012 in the FA Cup match against Sunderland which ended in a 2–0 defeat that knocked Arsenal out of the 2011–12 FA Cup.
Gervihno began the 2012/2013 season on a very wonderful note scoring a double in the 6–1 home victory over Southampton on 15 September. Gervinho scored his first Champions League goal of the new season in a 2–1 victory over Ligue 1 champions HSC Montpellier on 18 September.
Many thought Gervihno will be another successful converted attacker, just like Henry and Robin Van Persie who were converted from flank players to deadly strikers. But as the season unfolded slowly Gervihno's goal threat began to decline, and many fans began to loose confidence in Him as their main striker, If any one still had confidence in his ability, I believe Gervihno did himself no good, by missing a golden opportunity in the Capital One Cup fixture against Bradford, and because of that Arsenal fans world wide want Him out of the club as soon as possible.
CHELSEA ; Daniel Sturridge
Sturridge's contract at Manchester City expired, so he then signed for Chelsea on a four-year contract on 3 July 2009. with Sturridge still under the age of 24, and the two sides were unable to agree a deal, the fee for Sturridge was decided by a tribunal. The Professional Football Compensation Committee decided on 14 January 2010, that Chelsea would pay an initial fee of £3.5 million with additional payments of £500,000 after each of 10, 20, 30 and 40 first-team competitive appearances. There will also be a further payment of £1 million if the player makes a full international appearance, and Manchester City will receive 15 percent of any sell-on fee if Sturridge is transferred.
Which Chelsea fans are not bothered about, with the news of Liverpool interested in the player, the club faithful are hoping the money raised from his sale will be used to fund that of Radamel Falcao.
Sturridge has been accused of not playing with his full concentration, and His lack of intent in front of goal has not helped his course.
MANCHESTER CITY ; Mario Balotelli
This is actually coming as a surprise, but Balotelli who was brought in from Inter milan for a fee speculated to be £22Million has lost favour from the Manchester City faithful.
Following the defeat to Manchester United in last weekend's derby, Roberto Mancini's patience with striker Mario Balotelli finally seems to finally be wearing thin.
Despite his incredible talent and ability, mad moments both on and off the pitch as well as frustrating inconsistency makes the 22-year-old a liability when you are relying on him in the biggest matches.
City already have Sergio Aguero, Carlos Tevez and Edin Dzeko, so are hardly short on striking options if they decided to cash in on the ex-Inter man and improve the harmony at the club.
With rumours increasing over a move to AC Milan, Balotelli's crazy time in England, which has included significant ups and downs, may finally be coming to a close.
It would be a real shame for the British media, who love to examine the Italian's every move, but it could ultimately be a beneficial move for the champions.
MANCHESTER UNITED ; Luis Nani
How fast things can change. Nani was bought as an under study to Cristiano Ronaldo in the summer of 2007. Nani had an impressive first season with the club, winning both the UEFA Champions League and the English premiership trophy not only that but he contributed a lot during the course of that particular season, especially scoring in the penalty shoot out aganist Chelsea in Moscow, an action which made Him one of the fans favourite but the same can't be said of now.
After the departure of Ronaldo to Real Madrid. Nani showed some glimpse of His potential which suggested to many that He was ready to carry on from where his fellow country man Ronaldo had left out.
But as time went on, Nani inconsitency, made united go ahead to recruit Ashley Young from Aston Villa to help ease the pressure on Nani.
Nani has enjoyed some good moments at Manchester United, although his failure to progress to the truly elite bracket of players in world football has frustrated fans at Old Trafford.
His relationship with manager Sir Alex Ferguson is now beginning to sour, with the club reportedly unwilling to meet his high wage demands over an extension to his contract, which expires in 2014.
A fresh start for Nani at a new club, where he is likely to be the main man, could be a magnificent career move if his situation at Old Trafford, where he continues to be up and down, cannot be improved.
His qualities and age (26) make him a very bankable asset for United too, so they are likely to be able to secure an impressive fee, which could be reinvested into the side.
When he returns from injury, Nani may get one final chance to revitalize his United career but it would not be surprising if his spell at the club came to an end in January or next summer with Arsenal already knocking at the door.
LIVERPOOL; Stewart Downing
Stewart Downing has recently spoken of his frustration at the lack of first-team chances he has been receiving under Brendan Rodgers and it does not seem like he fits into the new managers plans.
At times this season has has been deployed as an emergency left-back after an Anfield career that has failed to live up to expectations after his transfer from Aston Villa.
After infamously ending his first season at Liverpool with no goals or assists in the English Premier League, Downing has been heavily criticized by observers and fans of the Reds.
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