Biggest Winners and Biggest Losers from the January Transfer Window

The January transfer window shut on Thursday evening, bringing to a close a month that will probably be renowned more for its failures than its achievements.

Outside of a handful of blockbuster deals and intriguing moves, the resounding feeling was one of unfulfillment. Big clubs such as Arsenal, Manchester City and Paris Saint-Germain went in for major players but came away with little (or nothing) to show for it.

There were some success stories, though, and here B/R takes a look at the window as a whole and picks its biggest winners and losers.

Subscribe to the B/R Football Ranks podcast: iTunes, Spotify

Winner: Chelsea

Marc Atkins/Getty Images

So Chelsea didn't get all the parts they wanted in January—they step into February with even less cover for Jorginho after Cesc Fabregas was sold to AS Monaco—but they did acquire a much-needed striker, a future star for next season and, perhaps most pertinently for some, they kept hold of a prodigious talent.

One of the first actions of the window by any club was the Blues' advance signing of Christian Pulisic, who will arrive at Stamford Bridge in the summer. He wasn't cheap, but he's really good and brings qualities head coach Maurizio Sarri both wants and lacks.

They followed this up with the loan signing of Gonzalo Higuain, who bolsters their forward options considerably. It's difficult to acquire top talent in the winter window, so Chelsea did about as well as they feasibly could in acquiring a striker who has positive history with Sarri.

Despite these two exciting signings, some fans are probably happier about the fact that bids for Callum Hudson-Odoi from Bayern Munich were staved off than anything else. The club now has five months to prove to the 18-year-old he can progress and play in west London and has no need to leave this summer.

We appreciate it may be difficult for Blues fans to see the light following the 4-0 defeat at Bournemouth on Wednesday, but the transfer window was a success and things will get better.

Loser: Arsenal

Marc Atkins/Getty Images

Arsenal tried their hardest to work the winter transfer window to their advantage. They really did. The problem was they didn't seem to have any money to actually spend on players.

Unai Emery confirmed as much on January 10, per the Telegraph, and although some presumed it may have been a bargaining tactic, it turned out to be true. The Gunners found negotiations—even for loans—very difficult as they had no cash to supply for up-front fees.

A slew of players were linked to the club: Ivan Perisic, Christopher Nkunku, Denis Suarez and Gary Cahill were targets, while Kevin Malcuit and Yannick Carrasco were also connected with a move to the Emirates Stadium.

Only one of those (Suarez) was secured, and when you add in the fact that Aaron Ramsey has signed a pre-contract with Juventus, per Sky Sports, and no suitor was found for Mesut Ozil, the overall feel to the transfer window is one of failure.

This is especially problematic given the intense competition they're facing for fourth spot in the Premier League. On paper, they look weaker than both Chelsea and Manchester United—particularly after Hector Bellerin's injury—and without significant reinforcements acquired this winter, it won't be a surprise if they slip down the table from here.

Winner: AC Milan

Emilio Andreoli/Getty Images

AC Milan seem to be perennially juggling financial fair play issues. As recently as December, BBC Sport reported they've been given a timeline to break even or risk being banned from European competition.

Despite that hanging over their head, though, they spent just over £60 million on two talented players in January.

First, Lucas Paqueta joined from Flamengo, and he's endeared himself to the San Siro in record time, producing slick touches and rainbow flicks to wow the crowd.

Marco Luzzani/Getty Images

Krzysztof Piatek then joined him in red and black, signing from Genoa to fill the Gonzalo Higuain-shaped void in the squad, and he netted two goals on his full debut.

They are two players Milan needed, and although they have paid a princely sum for the pair, they will prove to be worth it.

Loser: Deportivo Alaves

Juan Manuel Serrano Arce/Getty Images

Deportivo Alaves have been one of the storylines of this intriguing La Liga season. While many have focused on the struggles of Real Madrid, Valencia and Villarreal, the rise of El Glorioso has flown under the radar a little.

When La Liga broke up for Christmas, Alaves were fifth with 28 points, just a point off Real Madrid in fourth. The momentum they had built was powering a seemingly average group of players to consistently good results.

Quality Sport Images/Getty Images

Fast-forward a month, though, and it looks as though the train has run out of steam: results have taken a downturn, they're on a three-game winless streak and are now seven off Los Blancos. They also lost two players who were crucial to their approach and success.

"In losing Ruben Sobrino and Ibai Gomez, Alaves have lost two players that are very useful for their system. Abelardo Fernandez likes players with high energy who can be direct," Spanish football writer Simon Harrison told B/R. "Ibai Gomez has been great out wide all campaign, offering service and some goals. Ruben Sobrino is a nice mobile presence on the break, too."

Arresting the slump looked a hard enough task without losing Ibai and Sobrino. Without them, this fairytale season might well have had its wings clipped.

Winner: Newcastle United

Kevin C. Cox/Getty Images

In spending a reported £20 million on Miguel Almiron, Newcastle United broke a transfer record that had stood for more than a decade. Michael Owen's £16 million capture has finally been beaten; owner Mike Ashley has, for once, put his hands in his pockets.

That in itself is cause for celebration, and makes the Magpies (and to a greater extent, the fans) big winners in this window. 

What makes it even better is that Almiron is a fantastic player who has shone for Atlanta United and can bring qualities currently lacking at St. James' Park: vision, creativity and attacking spark.

Slotting directly into Rafael Benitez's counter-attacking setup, he will transform them as a threat in transition and on the counter-attack—and he'll be willing to work for the team too. It's a perfect tactical fit.

Loser: Leeds United

George Wood/Getty Images

It's difficult not to feel immense sympathy for Leeds United, who had Swansea City midfielder Dan James in their building, medical completed and ready to sign, only for the Welsh club to simply stop returning their calls. They couldn't complete the transfer.

It means Leeds signed just one player in January—Kiko Casilla, a goalkeeper from Real Madrid—and never replaced midfielder Samu Saiz, who was loaned out early in the window.

Then again, the sympathy can only extend so far; James was identified early in the window as the man Marcelo Bielsa wanted, but like Leeds tend to do, they left it until the last minute and ended up getting stung. It's a familiar story to fans.

Concerns over what implications this might have on a squad that badly needed reinforcing ahead of the promotion run-in are likely being fiercely mulled over in west Yorkshire as you read this.

Instagram.com/brsamtighe

All statistics via WhoScored.com.