The majority of people will be nursing their hangover this morning after the New Year celebrations, but for Premier League managers, it's just another day at the office. With several bosses knowing that just 31 days remain to make transfers before the transfer window shuts at midnight on February 1, there's no time to waste.
For the clubs fighting for survival in the prestigious Premier League, that one signing could make all the difference when May comes around.
In the 2012 winter transfer window, the arrival of Senegalese striker Papiss Cissé at Newcastle was one of the most effective January transfers to date, with the £10 million man notching nine goals in 17 games after joining from Bundesliga outfit Freiburg.
However, for the reigning champions in England, Manchester City, it could be a busy window for their Italian coach Roberto Mancini. Controversial forward Mario Balotelli has been strongly linked (per Goal.com) with a move back to his native roots in Italy, while Joleon Lescott and Scott Sinclair are two other players who are reported (per The Mirror) as being unhappy at the Etihad Stadium.
But with the Blues set to lose brothers Kolo and Yaya Toure this month for the African Cup of Nations and injuries at a premium, Mancini could be set to dip into the transfer market, with the former Inter coach receiving the full backing of owner Sheikh Mansour.
They're currently second in the Premier League but are five points off leaders Manchester United, and with seemingly unlimited funds, it seems possible that they could sign one or two players.
With the Citizens all set to be busy in the window, we're going to be updating this page with more news as we get it, so stay tuned for all of the latest news regarding Manchester City. Make sure you let us know your views on who you think Mancini could bring in, or if you're brave, which players could be shown the door.
Happy New Year to you all, and let's hope it's an eventful window.
--Updated January 22, 8am ET--
Today's transfer gossip sees AC Milan once again linked with a move to take Mario Balotelli back to Italy, but only if the Premier League champions drop their hefty asking price.
A line in The Guardian claims that Milan CEO Adriano Galliani is an admirer of controversial striker Balotelli, who previously played for their city rivals Inter.
According to the article, Galliani is set for further talks with City officials but conceded the £31 million price tag is too high, with Milan seeking to pay somewhere near the £24 million which the Citizens forked out back in 2010 to secure the 22-year-old's signature.
An alternative to a big-money transfer is the option of taking Balotelli on loan for the remainder of the season, with an option to make the move permanent in the summer.
But with 10 days remaining, it seems this one could result in Balotelli making one of his infamous last-ditch Ryanair flights to Milan on Deadline Day.
According to quotes attributed to him at ESPN, Tevez holds a strong desire to return to Boca, where he started his career in Argentina and left in 2004 to join Corinthians. Tevez was quoted as saying "The will to return to Boca always exists, even more so with Bianchi as a manager. I would like to wear the shirt of the team I love again."
The 28-year-old has made a remarkable turnaround at Eastlands after his publicized fall out with Roberto Mancini back in September 2011 when he allegedly refused to come on as a substitute against Bayern Munich.
But with 18 months left on the five-year contract he signed in 2009 after his £25 million move, Tevez could speak to foreign clubs about a free transfer as early as next January, and with Tevez a key player at the Etihad Stadium, the club's hierarchy will be hoping he signs a new deal fairly swiftly.
Roberto Mancini could be looking to sign another defender this January, even though the club's appeal for Vincent Kompany's red card was successfully overturned by the FA.
Kolo Toure is currently at the African Cup of Nations with the Ivory Coast national team, while Micah Richards is out injured, leaving only Joleon Lescott and the inexperienced Matija Nastasic available for selection.
The Citizens have previously been linked with the likes of Javi Martinez and Daniel Agger, and the Daily Express have suggested that Mancini could decide to move for either of Dortmund's defensive duo Neven Subotic or Mats Hummels.
However, with the Financial Fair Play regulations coming into play next season, Manchester City could decide to gamble and settle with Lescott, Nastasic and Kompany, with towering midfielder Javi Garcia certainly capable of deputizing at centre back if required.
Manchester City are looking to swoop for Derby's highly-rated youngster Will Hughes, with assistant manager David Platt reportedly attending their game against Brighton to scout the 17-year-old.
The teenager has broken into the first-team set up this season under Nigel Clough and has impressed greatly with performances highlighting his maturity. He's already made 30 appearances, scoring twice, and has even represented England Under 21's
And the Premier League champions are looking to bolster their ranks in midfield by signing young, local talent, with Hughes certainly fitting the bill. According to the Mirror, Mancini has personally sent his assistant Platt to make checks over Hughes with their Premier League rivals lurking in the distance.
Wherever he ends up, Hughes is bound to be a bright prospect in the game, and City will be desperate to secure him ahead of their opposition.
Reports yesterday swept around the media outlets suggesting that Chelsea had agreed a deal to sign Metalist Kharkiv midfielder Taison, but it seems now that interest from Manchester City has thrown a spanner in the works of the deal and the 24-year-old could be heading to Eastlands instead.
According to the Daily Mail, an £11 million deal was agreed in principle with the Ukrainian club, but after Roberto Mancini declared his interest in signing Taison to the Eastern European outfit's officials, Metalist are said to be after an extra £2 million by Wednesday from Chelsea, or they will listen to offers from other clubs.
With their growing injury problems, Mancini is looking to bolster the squad this January, with a midfielder and striker said to be his main targets. And Taison could certainly fit into that category, although the Premier League champions face competition from Benfica and Shakhtar Donetsk, clubs who already have a large Brazilian contingent among their ranks.
Napoli president Aurelio De Laurentis has opened the door for Manchester City's wantaway striker Mario Balotelli to join the club, after saying he'd love to see Balotelli partner Edinson Cavani up front for the Serie A outfit.
ESPN claim that the ambitious president has dismissed claims that Cavani could move to the Citizens, and instead feels that Balotelli could be interested in a move to Napoli, who knocked out Roberto Mancini's side out of the Champions League last season.
However, it appears that any move for Balotelli, who recently was involved with a bust-up with Mancini in training, will have to wait until the summer after De Laurentis conceded any marquee signing in January would be a "huge risk".
Time will tell whether the 22-year-old survives another season at the Etihad Stadium, but if he's pushed out of the exit door, he's almost certain to return to Italy.
With the 20-year-old attacking midfielder starring in all competitions this season, Andalusian club Malaga are desperate to tie Isco up to a new contract which would vastly increase his release clause. But both Chelsea and Manchester City are trying to broker a deal with the La Liga outfit that will see Isco move to the Premier League in January.
Chelsea are known to be front runners to secure Isco's signature, with the club watching him for well over a year after his £6 million move from Valencia in 2011. However, the Daily Mail believe that Manchester City could snatch Isco from under the noses of the Blues, with their director Txiki Begiristain, formerly of Barcelona, a known admirer of the Spanish playmaker.
Any move for Isco could cost up to £25 million with the club close to securing him to a new deal which would raise his release clause up to £30 million. And with the player happy to stay at La Rosaleda, it could take a massive effort to bring the starlet to England.
The Daily Star reports that, on the opening day of the transfer window, Manchester City are looking to steal a march on their rivals by snapping up Real Betis playmaker Benat, who is currently stalling over a new deal at the Estadio Benito Villamarin.
The 25-year-old has enjoyed a superb 2012, making his Spain debut in the 2-0 win over Serbia in May and going on to collect four caps for La Roja. His performances for Betis have also been magnificent, helping the club to rise to an impressive fifth position in the La Liga standings.
Benat has become embroiled in a contract wrangle with his club, with his current wage a lowly £150,000 per year.
His passing ability suits Manchester City's free-flowing style of football and the Daily Star believes that Roberto Mancini will make a move for the highly rated midfielder.
After showing some initial interest in signing Pedro Obiang, talkSPORT has revealed that Juventus could beat Manchester City to the signing of the midfield starlet after offering a player-plus-cash deal for the 20-year-old.
Despite having the likes of Paul Pogba and Kwadwo Asamoah as their strong, ball-winning midfielders, and with the club on top of the league, coach Antonio Conte looks set to bolster his squad in January by offering a lucrative deal to Sampdoria, who signed Obiang on a free transfer four years ago.
It's reported in the story that the Serie A champions could be set to offer £5 million plus full-back Paolo De Ceglie in the deal.
However, Manchester City's financial muscle is a lot more significant than the Old Lady's, and if Obiang was to be made available, you can be sure that Sheikh Mansour could put together a package to lure the Spaniard to Eastlands.
After making a £6 million move to Manchester City from Swansea in the summer, Scott Sinclair is reportedly unhappy at the lack of chances to prove himself at the Etihad Stadium and wants to move on loan in January, according to The Sun.
And the 23-year-old winger has no shortage of admirers. The Sun claims that Everton are in pole position to sign him on loan for the rest of the season, with squad depth a real issue at the Merseyside club.
Sinclair has only made two Premier League starts under Roberto Mancini, and unless the Italian pledges to let the former Chelsea winger play a bigger part in their title challenge, he could be out of Eastlands along with Joleon Lescott and Mario Balotelli.