The record high of £170million a year ago has been replaced by a record low of around £30million, according to business advisory firm Deloitte. Even the late signing of Adam Johnson by Manchester City for around £7million did not see the overall spending in the English top-flight beat the £35million spent in the first January window in 2003. Sports business analysts believe managers are now reluctant to spend big sums on a player who may only have a limited impact during the last three months of the season. Dan Jones, partner in the sports business group at Deloitte, said: "Managers, club owners and directors have become increasingly sceptical of the near-term impact a January acquisition can have. "Therefore, it is unsurprising to see a lack of high value activity, with those clubs that are active preferring loan deals. "The absence of new club owners and the tightening of club finances and credit availability have helped to accelerate that trend and dampen down the market." Jones said last year's record was mainly due to Manchester City's new owners - they accounted for almost half the spending then but have been relatively restrained this year. "The relatively low level of transfer spending by Premier League clubs in January 2010 is broadly consistent with the situation of top division clubs in France, Germany, Italy and Spain," added Jones. Until this year, spending in the winter transfer window had shown a steady overall increase followed by a sharp rise in 2008 and last year's record figure. Previous figures were: in 2009, £170million; in 2008, £150m; in 2007, £60m; in 2006, £70m; in 2005, £50m; in 2004, £50m; and in 2003, £35m. Elsewhere, West Ham have bolstered their striking options by completing the signing of Benni McCarthy on a two-and-a-half-year deal from Blackburn. The Hammers have also signed former Spurs striker Mido on loan until the end of the season from Egyptian side Zamalek as well as Brazilian star Ilan. Stoke have ended their search for a goalkeeper by moving for Asmir Begovic from Premier League rivals Portsmouth for a fee believed to be £3.25million. It was all quiet at Premier League leaders Chelsea, while rivals Arsenal and Manchester United also failed to enter the market. Wigan, meanwhile, won the race to sign highly-rated youngster Victor Moses from cash-strapped Crystal Palace in a deal thought to be worth £2.5million. Moses has signed a three-and-a-half-year contract at the DW Stadium while Bolivia striker Marcelo Moreno has also joined on loan from Shakhtar Donetsk. One of the busiest Premier League sides today was Fulham - who brought in Stefano Okaka and Nicky Shorey on loan from Roma and Aston Villa respectively. Fulham boss Roy Hodgson has also signed German youngster Christopher Butchmann from Liverpool and allowed Diomansy Kamara, Tony Kallio and Wayne Brown to go out on loan to Celtic, Sheffield United and Bristol Rovers respectively. Sunderland manager Steve Bruce has also had a busy day as he looked to boost his chances of survival by announcing the signing of Spurs defender Alan Hutton on loan until the end of the season. Daryl Murphy and David Healy have left the Stadium of Light to join former manager Roy Keane at Ipswich on six-month loan deals while Nyron Nosworthy has joined Sheffield United on loan. Burnley boss Brian Laws snapped up Jack Cork on loan from Chelsea and also extended the loan deal of Portsmouth striker David Nugent until the end of the season. Pompey's relegation rivals Hull managed to stave off Wolves' interest in Stephen Hunt while also letting Peter Halmosi, Daniel Cousin and Will Atkinson to join Szombathelyi Haladas, Larissa and Rochdale respectively. Today's other major moves include Marcus Bent joining QPR on loan from Birmingham and Kyle Naughton joining Middlesbrough from Spurs. Today's other big news from the Championship was the departure of Geremi from leaders Newcastle to Turkish side Ankaragucu. The Magpies, however, have bolstered their ranks with the capture of Leon Best from Coventry. The Magpies' rivals West Brom, meanwhile, have signed Feyenoord attacking midfielder Andwele Slory on a free transfer. Derby's fight for survival has been boosted by the arrival of Manchester City's young full-back Javan Vidal, while the Rams have also signed Michael Tonge from Stoke.
