Transfer news LIVE: City sign midfielder as Man Utd, Arsenal and Chelsea eye Newcastle striker, Mbappe contract

Potential alternatives, like limiting the number of possible transfers, strengthening homegrown player rules to spread talent and even salary caps have since been floated but all ideas are naturally at a very early stage. Fifa would argue this reflects how the impetus behind the agent reforms was simply to control transfer spending to improve competitive balance in the sport. In other words, to ensure it is less dictated by money and more teams stand a chance of winning.

Kalvin Phillips has revealed his loan move to West Ham ends a near two-year long pursuit by manager David Moyes.

The England midfielder has joined the Hammers for the remainder of the season after struggling for game time at Manchester City.

The 28-year-old has made just two Premier League starts for Pep Guardiola’s side since moving to the Etihad Stadium from Leeds in a £42million deal in the summer of 2022.

Phillips completed the move on Friday after West Ham rekindled an interest they first showed when he left Leeds.

Phillips told the club’s Iron Cast podcast: “I’m delighted. I was in Abu Dhabi with City, a warm-weather training camp, and all I could think about was getting a loan sorted.

“I spoke to ‘Moyesy’ over the phone while I was there. He reassured me that this was probably the best place for me to come on loan and that I’ll love every second and minute of it, and so far I have done. I’m very happy coming here. I’m looking forward to getting going.

“I think, honestly, if City hadn’t come in for me 18 months ago, then West Ham would have been the club I would’ve come to. It was always in the pipeline.

“Moyesy, he’s been after me for two years, he told me on the phone. So eventually, it was going to happen.”

Gary O’Neil has suggested that it Wolves have hit a stumbling block in their hopes of bringing in a couple of new faces before the end of the January transfer window.

Jonny Otto’s departure from Molineux was confirmed earlier, but O’Neil appears to have ruled out the prospect of an imminent arrival.

“Me, [sporting director] Matt [Hobbs] and the recruitment team have done an awful lot of work on a couple of options, but in a meeting yesterday it looked like they’re not going to be doable financially for us at this point,” O’Neil said. “It’s back to other options which we might be able to do.

“It’s disappointing, firstly, because it looked like we might have been making some headway with a couple. But I don’t want this to be seen as a negative because the group that we have have given us so much so far and I’m delighted to keep working with them. I’m not just going to sign anybody. It’s not ‘we need a nine, so we will take whoever we can get’.

“We need to take people that deserve the opportunity to play for Wolves, they need to help the group. January’s tricky and prices are sometimes inflated, so if we can’t find ones that will help us and we can’t find ones credible to play for Wolverhampton Wanderers, then we will go with what we’ve got, which is fine.”

Brentford have completed the signing of goalkeeper Hákon Valdimarsson from Elfsborg. The Iceland international boosts Thomas Frank’s options between the sticks and arrives on a long-term deal having impressed in the Allsvenskan last season.

Brentford head coach Thomas Frank said: “I’m very, very happy that we’ve managed to sign Hákon; there was competition from a lot of other clubs, including some in the Premier League. We are growing as a club, and we have proven that we make players better.

“Hákon is an exciting keeper. He is good at dominating his box, claiming crosses from set-pieces and in open play. His distribution is also at a high level. He fits the way we want to play, which is very important.”

Kalvin Phillips is probably just getting settled in at West Ham, acquainting himself with his new colleagues as he prepares to push for the consistent football he has lacked since joining Manchester City. That a player of such considerable ability has started only twice this season is curious – this might be a move that works for all parties, as Richard Jolly explores:

Jurgen Klopp has been vindicated in many a way this season but one of his comments has not aged well. “There are three clubs in world football who can do what they want financially,” he said in October 2022. No names were proffered but the sense, including at the Etihad Stadium, was that he meant Manchester City, Paris Saint-Germain and Newcastle United.

On Tyneside, they must rather wish that was true. Newcastle have deep pockets and vaunting ambition. They also have constraints that mean they are unable to access most of their wealth. Their transfer window has brought no expenditure thus far, not through a lack of willingness but a lack of leeway within financial parameters. For clubs such as Klopp’s Liverpool and Tottenham, who have long looked to break even and for sustainable models, it may prove that Financial Fair Play is financially working. Others may see it as the established order’s glass ceiling holding firm, preventing Newcastle from vaulting upwards.

A number of top European clubs, including Tottenham and Chelsea, have Club Brugge youngster Antonio Nusa on their radar. The Belgian side are not keen to part with the 18-year-old Norway international, but recognise the realities of the situation, with manager Ronny Deila confirming that Nusa is all but certain to leave in the summer even if he remains at the club this January.

“If it doesn’t happen now, it will be this summer,” Deila said.

“The most important thing is that he stays focused and wants to get better. I think he is handling [the speculation] well, because he is still young.

“Now, a decision has to be made and he has to do the best he can for us. I hope and think we will keep him until June. And then, he will be even more ready to leave.”

Crystal Palace are set to secure the signing of Colombia right-back Daniel Munoz from Genk, according to reports.

The 27-year-old has won 22 caps for his country and will boost Roy Hodgson’s defensive options. Palace, who had a bid knocked back earlier in the week, will pay a reported £8.5m.

Erik ten Hag says financial fair play restrictions will prevent Manchester United from acting in the January transfer window to fill the “gap” in attack left by Anthony Martial’s extended absence.

This has been a quiet month across the board and the Red Devils have focused on streamlining the squad rather than bolstering it.

Jadon Sancho, Donny van de Beek and Hannibal Mejbri are among those to have left on loan, with United always expected to do little to nothing in terms of signings.

And not even the fact that Martial has been ruled out until April after undergoing surgery on a groin injury is likely to change things due to Premier League profit and sustainability rules.

“I looked but there is no space,” United boss Ten Hag said. “No space on FFP to do something about this lack of quantity in the striker position.

“Of course, we have (Marcus) Rashford who can play as a striker, I think also we have some other alternatives, creative.

“It’s clear now Anthony is out for a couple of months. It’s a gap in our squad. Clear.”