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With the 2026 summer transfer window now firmly shut, attention naturally turns to January, when the madness of recent months could easily repeat itself.
Deadline Day proved a fittingly chaotic conclusion to a frenzied transfer window already thrown off course by the 2026 World Cup. Enzo Fernández sealed a headline-grabbing move to Manchester City, Gabriel Jesus was handed a fresh start at Barcelona, and Folarin Balogun's collapsed transfer to Everton triggered a chain reaction that ultimately cost Chelsea the signing of Lamine Camara as Fernández's successor.
Further excitement came from the deals that never crossed the finish line. The likes of Manchester United, Liverpool, Chelsea and Arsenal are left with obvious weaknesses to address, while unwanted players across England and Spain are still searching for a way out.
The groundwork has been laid for a thrilling January transfer window, where the loose ends of this summer will inevitably resurface.
Julián Alvarez
It was the defining saga of the summer. Julián Alvarez openly pushed for a move to fulfill his lifelong ambition of joining Barcelona, but Atlético Madrid repeatedly blocked his path, pointing both the reigning Spanish champions—and Alvarez himself—to a six-year deal and a $581 million (€500 million) release clause.
Arsenal and, briefly, Real Madrid surfaced as potential alternatives for the Argentine, but he remained fixated on making Camp Nou his destination. Ultimately, Diego Simeone refused to release his prized striker to Barcelona, and the summer window closed without any resolution.
Reports have already indicated that Barcelona will renew their pursuit of Alvarez in January, though it's difficult to envision Atlético Madrid reversing course so quickly.
Should life at the Metropolitano become truly untenable for Alvarez, he may revisit Arsenal's interest in the winter. Mikel Arteta failed to land an attacking addition on Deadline Day and would undoubtedly welcome the 26-year-old to north London.
Lamine Camara
Lamine Camara had already begun envisioning his next chapter at Stamford Bridge when Monaco abruptly pulled the plug on his transfer at the very last moment on Deadline Day. The midfielder had been set to step in as Fernández's replacement at Chelsea before his club withdrew.
Xabi Alonso is now left with a significant void in his midfield, one he will look to address the moment the January window swings open. Camara is the natural frontrunner for the Spaniard, alongside Roma's Manu Koné.
A winter move could be further complicated by Liverpool's involvement, however. Recent reports suggest the Reds have their eye on the 22-year-old and may make a move either in January or next summer as a long-term replacement for Alexis Mac Allister.
It's becoming increasingly clear that the Deadline Day drama was merely the beginning of a much larger story.
Endrick
Endrick chose to remain at Real Madrid this summer rather than head out on loan again, despite interest from the likes of Lyon and Liverpool. The Brazilian took on the No. 9 jersey and was eager to make his mark under new manager José Mourinho.
However, the emergence of Carlos Espí and an ill-timed muscle injury have once again cast doubt over Endrick's future. During his spell on the treatment table, Espí has stepped into Mourinho's plans and announced himself with a last-gasp winner against Espanyol on his Real Madrid debut.
If Endrick cannot reclaim his spot in the team over the coming months, a January departure for the second consecutive season looks increasingly probable. There is a strong case for the Brazil international to develop his game elsewhere rather than warming the bench at the Bernabéu.
The key question will be where Endrick chooses to go, should he decide to leave the Spanish capital.
Cody Gakpo
As the summer window drew to a close, it appeared Cody Gakpo was on the verge of trading his red shirt for sky blue. Manchester City tabled a $108.4 million (£80 million) bid for the Liverpool winger, only for the Reds to sensationally turn it down.
Andoni Iraola was unable to bring in a replacement for Gakpo, with attempts to sign Crystal Palace's Ismaïla Sarr and Brighton & Hove Albion's Yankuba Minteh both falling through. Liverpool could revisit either target in January, which would free Gakpo to pursue a move.
City, however, quickly changed direction and snapped up Iliman Ndiaye from Everton on Deadline Day, making it unlikely they will return for Gakpo in January. Tottenham Hotspur were also linked with the Dutchman this summer, though they ultimately brought in Mykhailo Mudryk on loan on Sept. 1.
Should Gakpo, now competing for minutes alongside Bradley Barcola, still be seeking an exit from Merseyside in January, he may find the market less welcoming than expected—or encounter a surprise suitor.
Alejandro Balde
Alejandro Balde is in an uncomfortable position at Barcelona. The left back was publicly criticised by head coach Hansi Flick, who suggested the player was "not [being] here 100%" at the start of the campaign.
The German manager then left Balde out of his squad for Barcelona's La Liga curtain-raiser before keeping him on the bench against Athletic Club and Rayo Vallecano. Throughout this period, transfer rumours gathered pace, with Manchester United identified as a possible destination for the Spaniard.
The Red Devils were reportedly only willing to take Balde on loan, while Barcelona held out for a permanent deal. The transfer collapsed, leaving the 22-year-old in Catalonia for at least the time being.
Negotiations could be revived when the winter window opens, given that United failed to recruit a left back this summer. Balde is also unlikely to see much action, sitting third in Flick's defensive hierarchy behind João Cancelo and Xavi Espart.
Joshua Zirkzee
Joshua Zirkzee's spell at United has been nothing short of a disaster. The striker has managed just nine goals in 75 appearances and has been reduced to a fringe option—at best—following the arrivals of Benjamin Šeško, Matheus Cunha and Bryan Mbeumo in 2025.
His days at Old Trafford appear numbered, yet a summer exit never materialised. Interest from Juventus and Fiorentina never developed into concrete offers, and a late approach from Everton on Deadline Day was reportedly turned away by United due to the lack of time remaining.
Zirkzee must now wait until January to explore his options once more, having grown increasingly frustrated sitting on the sidelines in Manchester. The Dutchman has yet to make a single appearance this season, even with Šeško dealing with fitness issues.
A move to Serie A seems likely to resurface as an option in the winter, or perhaps Everton will return to United's door after their failed pursuit of Balogun on Deadline Day.
Folarin Balogun
As for Balogun, it remains to be seen whether the American striker stays put at Monaco in January or revives his transfer ambitions. The former Arsenal forward came agonisingly close to a Premier League return before a failed medical at Everton derailed his plans entirely.
The Toffees initially walked away from the deal before returning to negotiations in the dying moments of Deadline Day. In the end, it was Balogun who chose to walk away from the Merseyside move after feeling he had been poorly handled throughout the process.
The 25-year-old now finds himself back at Monaco, despite having set his sights on leaving following an impressive World Cup with the U.S. men's national team. Even if things settle down, Balogun may still harbour ambitions of taking the next step in his career and returning to England if a suitable offer arrives in the winter window.
That said, the messy nature of his failed Everton move may have given some potential suitors reason to pause.