The January 2026 Transfer Window Thread - Now Closed!

[TruckerJack]

I’m not sure I said it should be zero tbf. I just questioned whether being so close to the limit was good management as was stated.

There’s a big difference between the two extremes of ‘we must break even’ and ‘we must spend every penny we’re allowed’

I’d suggest that good management in the Championship is somewhere in the middle which allows you to cover unexpected events and have headroom for any January relegation panic/promotion push as and when required.

Isn’t that what they did though? Left enough room for x3 January signings.

 

[JackSomething]

Isn’t that what they did though? Left enough room for x3 January signings.

I think what we're debating is Flash's suggestion that operating as close to the limit as possible would be 'good management'.

 

[Neath_Jack]

I think what we're debating is Flash's suggestion that operating as close to the limit as possible would be 'good management'.

I don’t think we have any choice if we want to be competitive. Imagine the furore on here if we were buying complete unknowns / journeymen to achieve it. It’s bad enough now with some clamouring to buy untold numbers of players constantly.

 

[JackSomething]

I don’t think we have any choice if we want to be competitive. Imagine the furore on here if we were buying complete unknowns / journeymen to achieve it. It’s bad enough now with some clamouring to buy untold numbers of players constantly.

I'm in agreement with Lisa's earlier post being supportive of how the owners are running the club (live within our means, increase commercial income, generate profit through player trading, return Academy to Cat 1, etc) and I don't think they are operating with us right at the limits of the financial cap.

If they were really doing that, sacking Sheehan probably would have been impossible and we'd have been stuck with him. Any financial decision made regarding Walta was likely to ensure we do still have financial headroom in case anything unexpected happens between now and the end of the season, although I appreciate that is just a guess on my part.

I can't support the suggestion that a club should aim to spend every available penny and be right at the limit, because of unexpected developments. That's not 'good management' to me. But I don't think that's what the owners are doing, so I guess it's pretty much irrelevant.

 

[Neath_Jack]

I'm in agreement with Lisa's earlier post being supportive of how the owners are running the club (live within our means, increase commercial income, generate profit through player trading, return Academy to Cat 1, etc) and I don't think they are operating with us right at the limits of the financial cap.

If they were really doing that, sacking Sheehan probably would have been impossible and we'd have been stuck with him. Any financial decision made regarding Walta was likely to ensure we do still have financial headroom in case anything unexpected happens between now and the end of the season, although I appreciate that is just a guess on my part.

I can't support the suggestion that a club should aim to spend every available penny and be right at the limit, because of unexpected developments. That's not 'good management' to me. But I don't think that's what the owners are doing, so I guess it's pretty much irrelevant.

I don’t think anyone has suggested we should aim for it, but more the case of we are going to be up and around it if we want to be competitive. Unless we suddenly start producing high level championship players from the academy to fill the team, and that isn’t going to happen.

 

[Captain_Sham]

Humour me, I just asked a co pilot a question. I have no idea where the result came from. I have no idea how accurate it is but my question was. "How many EFL championship teams made a profit last season?" The answer was sobering. In full:-

None of the 24 EFL Championship clubs made an operating profit last season. Deloitte’s 2025 Annual Review states that for the second consecutive season, every Championship club recorded an operating loss in 2023/24.


What the data shows

• 0 clubs made an operating profit.
• Aggregate operating losses: £411m (a 25% worsening from the previous year).
• Pre‑tax losses: £318m across the league.
• Losses were driven by:

• High wage-to-revenue ratios
• Increased operating costs
• Heavy amortisation charges
• Reliance on player‑sale profits to offset structural deficits

Why this keeps happening

• The Championship’s financial model is structurally loss‑making without parachute payments or major player sales.
• Promotion-chasing clubs routinely spend beyond revenue to compete.
• Even with record attendances and rising commercial income, cost inflation outpaced revenue growth.

 

[Neath_Jack]

• Promotion-chasing clubs routinely spend beyond revenue to compete.

 

[Flash]

We have always operated at a loss in the championship. But when we’re at a point where we’ve had significant investment in the club multiple buy in from celebrities and an expected increase in commercial revenue I think it’s right to approach the cap. Another good reason is we have multiple high value assets in the squad Vip Galbraith that would be pure profit if we sell them. Along with our recruiting strategy of signing young high potential players for low fees we put ourselves in a lot stronger position for the future.

If we have any ambition at all we need to take some risks to progress. Because previously we were in a slow death spiral down the table and heading towards the lower leagues.

 

[Neath_Jack]

We have always operated at a loss in the championship. But when we’re at a point where we’ve had significant investment in the club multiple buy in from celebrities and an expected increase in commercial revenue I think it’s right to approach the cap. Another good reason is we have multiple high value assets in the squad Vip Galbraith that would be pure profit if we sell them. Along with our recruiting strategy of signing young high potential players for low fees we put ourselves in a lot stronger position for the future.

If we have any ambition at all we need to take some risks to progress. Because previously we were in a slow death spiral down the table and heading towards the lower leagues.

I’m sure the year we got promoted to the Prem, we would have been in a massive pickle the following year if we hadn’t secured promotion. Very big trouble if memory serves me right.

To clarify though, I don’t think that’s what we should be doing with our finances, gambling it all on black if you like. But it’s quite conceivable that if we expect to challenge at the top, then we’re going to be pushing the financial boundaries.

 

[J_B]

It's a very tough league. We will likely sell Vip and Galbraith if we get good offers and then we have to get replacements just as good to stand still. Then we use what's left to improve in other areas and put some into running costs to stay out of ffp trouble.
The scouting department makes or breaks Championship clubs

 

[Flash]

I’m sure the year we got promoted to the Prem, we would have been in a massive pickle the following year if we hadn’t secured promotion. Very big trouble if memory serves me right.

To clarify though, I don’t think that’s what we should be doing with our finances, gambling it all on black if you like. But it’s quite conceivable that if we expect to challenge at the top, then we’re going to be pushing the financial boundaries.

For the record I don't think it's right that clubs are operating at a loss, but that is the reality of the championship currently. It's a necessity to overspend to compete or even stay up. But sustainability in the championship is not something the club can change and is another topic entirely.

From a club perspective I think we are going about it now in the best way possible. Focussing on increasing commercial revenue, and generating a pipeline of talent that we can sell on at a profit. It's the only way a small club like ours can ever hope to compete and improve against bigger clubs.

 

[Frankie Burrows Cap]

For the record I don't think it's right that clubs are operating at a loss, but that is the reality of the championship currently. It's a necessity to overspend to compete or even stay up. But sustainability in the championship is not something the club can change and is another topic entirely.

From a club perspective I think we are going about it now in the best way possible. Focussing on increasing commercial revenue, and generating a pipeline of talent that we can sell on at a profit. It's the only way a small club like ours can ever hope to compete and improve against bigger clubs.

No arguments with that and I guess I was being picky in terms of my initial reply of ‘trying to get close to the cap’

You’ll see very few complaints from me in terms of the new owners and their plans on and off the pitch in the last 12 months.

 

[magicdaps10]

No arguments with that and I guess I was being picky in terms of my initial reply of ‘trying to get close to the cap’

You’ll see very few complaints from me in terms of the new owners and their plans on and off the pitch in the last 12 months.

Their a million miles away from the previous owners and their pro active approach needs to be applauded and respected.
They will make mistakes but they seem to pull the trigger quickly if needs be.
We can discuss as much as we want but I feel we are in good hands with these new owners. They will get wiser as time goes on aswell.