It only comes round twice a season but it's well worth the wait. Transfer deadline day might be a logistical nightmare for agents, executives and management but for the fans...it's like a second Christmas.
The tension, apprehension and excitement as to whether your club goes all out and makes that huge signing cannot be rivalled.
All the rumours and speculation cease at 12 midnight (GMT) late Thursday, and you can be sure plenty of clubs will be trying to negotiate right up to the witching hour in the hope of securing that much-needed target.
One of the clubs that could be heavily involved in the transfer activity is Stoke City with plenty of strikers linked with a move away from the Britannia, while QPR are almost certain to be active under Harry Redknapp.
Here are five of the biggest moves that could well take place later today...
The Argentinean striker has an admirable scoring record since arriving at Elland Road in 2008, making double figures every season.
The 29-year-old is currently enjoying his best campaign, hitting the back of the net 19 times in just 31 appearances. However his work rate has been questioned by new boss Neil Warnock.
The two have not seen eye to since his arrival last year and it now looks likely he will be heading to Carrow Road in a $5million deal.
Norwich are desperate for goals, and with speculation surrounding the future of Grant Holt, signing a quality striker may prove to be a necessity as Chris Houghton looks to avoid the drop.
Leeds will also get Steve Morison in return plus the cash, which appears a useful deal for both clubs on the face of it.
Spurs' forgotten England international could well be on the move for the right price later today should a deal be thrashed out with Fulham.
It remains to be seen what that particular amount will be, but you can be sure he won't be allowed to leave White Hart Lane on the cheap.
Huddlestone was a key figure in the centre of the park for the North Londoners, but a mixture of injuries and high-profile signings have meant the 26-year-old has had to take a back seat and share playing time with the likes of Sandro and Clint Dempsey.
But regular playing time and another London club may be enough for the midfielder to sign on the dotted line later this evening.
Jones has been linked with Swansea for the past week or so, but it looks like his excessive wage demands may have ended their interest.
With Villa almost certain to sell Darren Bent, it looks like Paul Lambert could well be in the driving seat should he want to make a move for the Stoke frontman.
Jones signed for a club record fee of $12 million three years ago but has struggled to recapture the form he showed at Sunderland.
A change of club may be just what the 28-year-old needs to relaunch his stuttering career, although it might not be a sexy enough signing for Villa fans who remain frustrated and severely worried heading into the latter stages of the season.
However, if Danny Graham makes a late transfer, Swansea could yet revive their bid should Jones still be available.
Darren Bent is almost certain to be leaving Villa Park just two years after making the huge $35 million switch from Sunderland.
It was an astonishing price tag at the time, and the England international looks like he will departing for less than half that amount later today.
It's been an incredible fall from grace for the 28-year-old, who has made only 11 appearances this season under Paul Lambert.
Admittedly he has lost some form and fitness this season, but for a player who could not stop scoring just over a year ago, it seems to many like a harsh decision from the new manager, especially when looking at their woeful league position.
Still, the chance to recoup some money may be the only way Villa can bring in fresh faces themselves, so step up Stoke City and Newcastle.
Bent is the favourite to make the switch to the Britannia Stadium, especially if Tony Pulis sells a striker or two. But don't rule out Newcastle, who have already been incredibly active during this transfer window and have the resources to outbid Stoke, which could prove crucial.
Alan Pardew will be desperate to replace Demba Ba, and a potential partnership of Pappa Cisse and Bent could be the final piece to Newcastle's jigsaw.
The ex-Blackburn midfielder has hopped on a plane to England and looks set to join QPR on deadline day after the club matched his transfer release clause on Tuesday.
But for a club that is bottom of the table, the numbers that are being talked about are astonishing! QPR have made an incredible number of signings under Tony Fernandes, but this will be a club record by some margin.
It is being reported that Samba will sign in a $17.5 million deal (via the Guardian), and receive around $150,000 a week!
Many will remember the marauding centre-back from his time with Blackburn. His defensive capabilities along with his aerial threat at set pieces made Samba one of the most coveted defenders in the EPL.
And although his move to Anzhi may not have been for footballing reasons, it has made the 28-year-old a very rich man indeed.
Samba's potential arrival will more than negate the void left by Ryan Nelsen, who has stayed longer than necessary to help out his friend Harry Redknapp before he takes over as manager at Toronto FC.