Premier League clubs are actively seeking out deals as the January transfer window gathers pace. Liverpool and Everton are among those who will aim to improve their squads, just months after a record-breaking summer saw the league splurge an astonishing £3billion on new players.

While major signings are typically reserved for the summer, January offers an opportunity to kick-start the rebuilding process earlier. Manchester City were responsible for nearly half of the Premier League's £370m expenditure last winter as Pep Guardiola set about rejuvenating his squad.

A club's transfer budget is not solely based on the wealth of their owners but also hinges on adhering to profit and sustainability rules (PSR). Furthermore, teams with aspirations of qualifying for European competition must take into account UEFA's squad cost ratio (SCR).

OPINION

PSR restricts losses to £105million over a three-year...