Study Finds Newcastle's Jonjo Shelvey to Be the Best Deal of Transfer Window

Good news, Newcastle fans: For all the Magpies' activity in the transfer market over the past year, the club managed to pick up the bargain of the January transfer window.

That's according to analysis from the CIES Football Observatory, which estimates transfer values based on studies of over 1,500 deals since 2009 (h/t BBC Sport).

The study found that Steve McClaren's side underpaid Swansea City to the tune of £11.5 million for Jonjo Shelvey, though it also concluded that Newcastle overspent £5.4 million on Tottenham Hotspur's £12 million winger Andros Townsend.

As for the worst deals of the window, Jackson Martinez's £31 million move from Atletico Madrid to Guangzhou tops the list (the Chinese club are said to have overpaid a whopping £18.43 million for the Colombian), while Ramires' shock £25 million move from Chelsea to Jiangsu Suning was apparently overfunded by £8.36 million.

Best Deals of the January Transfer Window

1. Jonjo Shelvey (Swansea-Newcastle): £12 million (underpaid by £11.5 million)
2. Augusto Fernandez (Celta Vigo-Atletico Madrid): £5 million [reported] (underpaid by £2.48 million)
3. Mario Suarez (Fiorentina-Watford): £4 million [reported] (underpaid by £2.24 million)

Worst Deals of the January Transfer Window

1. Jackson Martinez (Atletico Madrid-Guangzhou): £31 million (overpaid by £18.43 million)
2. Ramires (Chelsea-Jiangsu Suning): £25 million [reported] (overpaid by £8.36 million)
3. Lewis Grabban (Norwich-Bournemouth): £7 million (overpaid by £6 million) 

*Best and worst deals per CIES Football Observatory

[CIES Football Observatory, h/t BBC Sport]