Premier League desperation rankings: Judging all 20 teams by transfer window panic

"January transfers usually don't work out. Granted, most transfers usually don't work out, but the winter window is when an already-inefficient market becomes a place where you're paying 80 cents for the opportunity to guess heads or tails on a coin flip with a 20-cent payout. January signings tend to have about a 20% markup when compared with similar signings made in the summer. Over the past decade, there have been very few -- if any -- teams who made a big winter signing and then got carried by that player to a title that wouldn't have otherwise happened."

"And one study found that about 50% of strikers signed in this window have gone on to score zero goals from their arrival through the end of the season. This isn't to say that January signings are all destined to fail. Just look at Virgil van Dijk, Bruno Fernandes or Martin Ødegaard. But in most cases, if you're spending lots of money on signings that you know are going to cost extra and are unlikely to make a massive difference between now and the end of the season, then you're desperate."

"And, well, Premier League clubs have spent more than €400 million on transfers over the past month, while no other league spent more than €230 million. The most desperate clubs in the world are the ones in the richest league in the world because the average level of play has never been higher, and neither has the reward for finishing higher up in the table. Which teams, though, were the most desperate in this transfer window that closed Monday? We've ranked all 20 Premier League teams from the least to the most desperate."

January transfer window signings often carry a roughly 20% price premium compared with summer deals and typically deliver limited impact. Historically, few clubs have gained a winter addition that alone produced an otherwise unattainable title, and one study found about half of strikers signed in January scored zero goals from arrival through season end. Notable exceptions include Virgil van Dijk, Bruno Fernandes and Martin Ødegaard, but most expensive midseason acquisitions rarely alter season outcomes. Premier League clubs spent over €400 million in the recent window, reflecting elevated desperation in the richest, most competitive league.

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