Bargain hunt in January sales

"They are unlikely to change their squad because things are going so well for them and there is not a large amount of money around elsewhere.

"The clubs who have historically spent most do not look like they have an appetite for it now. Most of them have come to grips with the system and people are looking for bargains, but most of them become available in the summer when players are out of contract."

Similar predictions last January were proved wrong by a handful of very big moves late in the month, but generally the Premier League's registrations office was not overrun.

The experts look less likely to be caught out this time as United spent most of their spare money on Wayne Rooney in the summer and head coach Jose Mourinho insists only injuries to established players will take him into the transfer market.

Chelsea's link with Real Betis' Joaquin is on hold until the summer and the only move out of Stamford Bridge is likely to be Robert Huth on loan as Parker is injured and Joe Cole has been told to be patient.

At Arsenal, Arsene Wenger said he will not buy a new goalkeeper to settle the dilemma over Manuel Almunia and Jens Lehmann and his biggest transfer issue remains the future of Edu. The manager has midfield cover for the Brazilian but would look to strengthen if one of Edu's supposed Spanish suitors came up with a good offer for him.

Wenger intends to bring in one or two young players next month anyway, but his spending is expected to be much lower than the £17m agreed for Jose Reyes last season.

With those three clubs promising prudence, it will be left to the rest of the Premiership to push the transfer merry-go-round.

Tottenham have agreed a loan deal from January for midfielder David Limbersky, 21, from Czech side Viktoria Plzen.

They have also considered Sweden winger Christian Wilhelmsson and are expected to recruit several promising young players.

Previous target Wayne Routledge is staying at Crystal Palace for now but Spurs are among several clubs weighing up bids for Crewe's prolific striker Dean Ashton.

Funding for more ambitious moves could come from releasing Jamie Redknapp to lower their wage bill and selling Robbie Keane, who is a £4m target for Aston Villa.

They are not the only club hoping to prove the experts wrong, though, and Liverpool have started trying to replace the injured striker Djibril Cisse.

Real Madrid's Fernando Morientes is one of their top targets and Nicolas Anelka at Manchester City is also on the shopping list.

Price as always will be key as chief executive Rick Parry balances debts, potential investment and possible Champions League income, but his club could be one of the Premiership's bigger spenders next month with around £10m available.

Other big names potentially on the move are likely to involve Newcastle. Graeme Souness will offload Laurent Robert and Kieron Dyer if he can get decent deals.

Their wages of more than £35,000-a-week each are likely to be as big a hurdle as any fees but the manager wants to freshen things up. He remains interested in Chelsea's Huth and is among a clutch of managers looking at James Beattie, who is set to be at the centre of much activity in the window.

The Southampton striker is the player new manager and expert wheeler-dealer Harry Redknapp is ready to forsake to build up his trading fund.

The asking price is £6m and there is definite interest from Souness, Everton's David Moyes, Villa's David O'Leary and - despite his public denials - Charlton's Alan Curbishley. Redknapp wants to bring in as many players as he can and has already handed a trial to former Fulham midfielder Martin Djetou.

That could hand Charlton an advantage, who would be in a position to throw unsettled Jason Euell into the deal.

Curbishley has a limited fund but wants defender Michael Dawson from Nottingham Forest and is keen on striker Lisandro Lopez, who plays for Racing Club in the Argentinian league.

The manager may have more to spend if £2.5m-rated Euell is sold, but Charlton would want a replacement lined up and will not want to rush through any deals.

Potential suitors for Euell include Crystal Palace, where boss Iain Dowie wants three new players and may raise his budget by selling fringe squad members.

But the striker is not keen on the move and a loan deal has been ruled out. Everton are a better bet with Moyes likely to have £10m available.

Other potential movers are Middlesbrough goalkeeper Mark Schwarzer and Fulham's Edwin van der Sar, both of whom are in the final year of their contracts.

Birmingham's Robbie Savage is attracting attention from Blackburn, who could offer Paul Dickov in exchange.

West Brom, who will not be big spenders next month, got in ahead of the January sales by agreeing a permanent deal with free agent Matias Almeyda yesterday.

Most of the other clubs in the Premiership are still window shopping.