Plenty of clubs nab a bargain in the January sales but, for every side shopping to avoid relegation or kick on at the top, there is a chairman waiting to exploit their desperation - and that transfer window saviour turns out overrated, overpriced, or both. Here, we list the 25 best and worst January signings since the transfer window was introduced in 2003.

The best

25. Paul Scharner, Brann to Wigan Athletic, January 6, 2006

Not only is the Austrian defender-cum-midfielder underrated, he is also frank, voicing his scepticism about Steve Bruce’s long-ball style. And he wears cool glasses off the pitch. That’s £2.5 million well spent by Paul Jewell.

24. Darren Moore, West Bromwich Albion to Derby County, January 26, 2006

The veteran defender and charity fundraiser cost Derby about £500,000. While, like his team-mates, he is not up to the rigours of top-flight life, he was outstanding in 2006-07 as Derby won promotion.

23. Robbie Fowler, Manchester City to Liverpool, January 27, 2006

Pushing 30, the striker was a shadow of his former self, but that did not matter to the Kop, who rejoiced at the second coming of “God”. A populist move by Rafael Benitez but Fowler also performed competently as a back-up striker.

22. Christopher Samba, Hertha Berlin to Blackburn Rovers, January 25, 2007

The rugged France-born Congo defender was a bargain £400,000 after impressing on trial, forming an effective partnership with Ryan Nelsen at centre back. The 23-year-old did so well that he was handed a new contract last autumn.

21. Moritz Volz, Arsenal to Fulham, January 21, 2004

Whatever it cost to make his loan move permanent, it was a modest fee for the German defender, who has made more than 100 league appearances for Fulham. Even better, Volz writes a smart and funny Times column and is obsessed with David Hasselhoff.

20. David James, West Ham United to Manchester City, January 14, 2004

While his form for City was not as consistently impressive as it has been for Portsmouth lately, the £2m to bring the goalkeeper north was still money well spent by Kevin Keegan and and James played 93 times for the club.

19. Jason Roberts, West Bromwich Albion to Wigan Athletic, January 13, 2004

The striker, who joined for £2m, was an instant hit at the JJB. In his first full season with Wigan he formed a lethal partnership with Nathan Ellington, scoring 21 times as the club reached the Premier League.

18. Jimmy Bullard, Peterborough United to Wigan Athletic, January 31, 2003

The midfield scamperer was a relatively low-profile addition to Wigan’s squad – he cost £275,000 – but became a vital midfield cog in their promotion-winning side and kept his place in the top-flight. He moved to Fulham in 2006 for £2.5m.

17. Matthew Upson, Arsenal to Birmingham City, January 22, 2003

Injuries have blighted his career but when fit he is an outstanding defender. An initial £1m rising to £3m was a reasonable fee for an England international who became a lynchpin of the Blues’ back line. The club netted a healthy profit when he moved to West Ham for £6m last January.

16. Stephen Warnock, Liverpool to Blackburn Rovers, January 22, 2007

The £1.5m fee for the 26-year-old left back looks a bargain. Warnock was unable to command a regular first-team place on Merseyside but has played so well this season that there have been suggestions he is not too far away from the England squad.

15. Henrik Larsson, Helsingborgs to Manchester United, January 1, 2007

The former Celtic legend plugged a hole when Sir Alex Ferguson dramatically borrowed him from Helsingborgs for three months during the Swedish close-season. Though 35, he scored three times and United tried to extend the deal, but the forward kept his promise to family and club that his Old Trafford career would be a mere cameo.

14. Nigel Reo-Coker, Wimbledon to West Ham United, January 22, 2004

The 23-year-old midfield player helped Alan Pardew’s side to promotion and was quickly made captain. Despite a miserable 2006-07, Martin O’Neill was persuaded to spend £8.5m to bring him to Villa Park last July.

13. Pedro Mendes, Tottenham Hotspur to Portsmouth, January 12, 2006

Would Portsmouth have stayed up if Mendes had not scored twice against Manchester City, the second a spectacular goal, to give them a 2-1 win and hand their survival campaign some momentum?

12. Patrice Evra, Monaco to Manchester United, January 10, 2006

Arsenal and Liverpool were sniffing but United’s £5.5m bid secured the left back’s signature. While that fee initially seemed overblown, Evra has become a key figure for the champions.

11. David Unsworth, Sheffield United to Wigan Athletic, January 5, 2007

A fateful transfer. The ancient defender played just ten times for Wigan, scoring once – and what a goal. He stuck in the penalty on the last day of the season at Bramall Lane that kept Wigan up – and relegated his former team.

10. Emmanuel Eboue, Beveren to Arsenal, January 9, 2005

The Ivory Coast international began as a flying full back but Wenger converted him to the right wing this season with no little success. A bargain at only about £1.5m from Arsenal’s Belgian feeder club.

9. Javier Mascherano, West Ham United to Liverpool, January 31, 2007

The Argentina midfield player did not make his Liverpool debut until late February because of complications arising from his distinctly unusual transfer situation. While he never really fitted in at West Ham, he quickly adapted to life at Anfield.

8. Dean Ashton, Crewe Alexandra to Norwich City, January 11, 2005

Several clubs felt he was overpriced at £3m but Norwich, in Premier League relegation peril, took the plunge. Delia’s men went down but Ashton scored seven times and Norwich made a £3.25m profit on the forward in 12 months when West Ham came in for him.

7. Nemanja Vidic, Spartak Moscow to Manchester United, January 4, 2006

Sir Alex Ferguson plucked the Serbia centre back from Russia for about £7m and he soon formed a fine partnership with Rio Ferdinand. An “old-fashioned defender” – ie, hard as nails.

6. Steve Sidwell, Arsenal to Reading, January 20, 2003

Another young Englishman let go cheaply by Wenger who has proved himself at Premier League level. His performances saw him considered the best player outside the top flight, and his displays last term when Reading reached the elite earnt him a move to Chelsea.

5. Theo Walcott, Southampton to Arsenal, January 20, 2006

One of the most dramatic transfers in recent years – Arsene Wenger signing an Englishman. The 16-year-old cost an initial £5m, rising to £12.5m. Within six months he was in England’s World Cup squad but he had to wait until the next season for his Gunners debut.

4. David Nugent, Bury to Preston North End, January 11, 2005

A prolific first half of 2004-05 earnt the 22-year-old forward a switch to Deepdale for a bargain £100,000. Two years and two months later he made his England debut and Preston sold him to Portsmouth last summer for a rather excessive £6m.

3. Scott Carson, Leeds United to Liverpool, January 21, 2005

Only played nine times for Liverpool, but impressed on loan to Charlton Athletic and now Aston Villa. The clubs have negotiated a permanent deal that could see Liverpool get an eightfold return on their £1m investment, who is now an England international. As we know only too well.

2. Emmanuel Adebayor, Monaco to Arsenal, January 13, 2006

It took the £7m Togo forward a while to bed in but he is now almost uncontrollable. If occasionally wasteful when through on goal, his aerial prowess means that Arsenal have scored more headers this season than in the previous ten years. Probably.

1. David Bentley, Arsenal to Blackburn Rovers, January 31, 2006

Already on loan, Blackburn made the deal permanent two years ago. Whatever the undisclosed fee was, it was a bargain – Bentley blossomed and was in the England squad within 18 months.

The worst

25 Jan Kromkamp, Villarreal to Liverpool, 4 January 2006

The Dutch defender moved to Anfield with Josemi going the other way, so it wasn’t all bad news. Unable to displace Steve Finnan, Kromkamp did play in the 2006 FA Cup Final – as often, coming off the bench. That August, he signed for PSV Eindhoven.

24 Jose Antonio Reyes, Seville to Arsenal, 28 January 2004

The Spanish forward was by no means a total failure at Highbury, but he was a let-down after arriving with so much hype and a £10.5 million price-tag. Before long, he began to whinge about the misery of life in London, and a loan move to Real Madrid then a permanent deal with Atletico Madrid gave him the return to Spain he had craved

23 Rowan Vine, Luton Town to Birmingham City, 11 January 2007

De-Vine inspiration was absent during the forward’s spell in the Midlands. Prolific at Luton, he scored just once after his £2.5 million switch and has spent most of this season on loan at QPR, where he has just made the move permanent for £1 million.

22 Luis Boa Morte, Fulham to West Ham United, 5 January, 2007

A transfer encapsulating West Ham’s mad trolley-dash last January as they threw money about in the hope of avoiding relegation. They did, no thanks to the 30-year-old forward, who has scored once since April, 2006. Ineffective and in decline, yet West Ham spent £5 million on him.

21 Julius Aghahowa: Shakhtar Donetsk to Wigan Athletic, 31 January, 2007

The Nigeria striker spent six years in the Ukraine before making a £2.1 million deadline-day switch to the JJB Stadium. His scoring celebrations are spectacular, but we haven’t seen them: five starts, fourteen substitute appearances, no goals.

20 Danny Murphy, Charlton Athletic to Tottenham Hotspur, 31 January 2006

The midfield player was doing so well at the Valley that there was talk of an England recall. Yet after spending £2 million on him, Martin Jol barely played him. After eighteen months on the bench, he moved to Fulham last summer.

19 Djimi Traore, Charlton Athletic to Portsmouth, 11 January 2007

The French Titus Bramble, though few at Fratton Park were laughing when Harry Redknapp spent £1 million a year ago to relieve Charlton of the former Liverpool defender after just half a season at the Valley. Now on loan at Rennes.

18 Ade Akinbiyi, Burnley to Sheffield United, 26 January 2006

Or “Ade Panic Buy”, as he has been cruelly – if accurately - dubbed. Dismal at Leicester and Crystal Palace, the striker went to Burnley, who bought him for £600,000 then sold him to a naive Neil Warnock for a then club-record £1.75 million. Fourteen starts later, he was back at Turf Moor for £750,000.

17 Hossam Ghaly, Feyenoord to Tottenham Hotspur, 31 January 2006

Ghastly, more like. After he threw his shirt to the ground when substituted against Blackburn last May, a parting of the ways seemed in everyone’s interests. A move to Birmingham was scuppered at the eleventh hour when Ghaly criticised Steve Bruce’s training methods. Spurs finally got rid of him to Derby two weeks ago.

16 Dong Gook-Lee, Pohang Steelers to Middlesbrough, 31 January 2007

Was banned from the South Korea side for a year last November for a late-night drinking binge on international duty. Presumably he was drinking to forget rather than remember because the 28-year-old, while a star in Asia, is a non-entity in the Premier League. His only goal in twelve months at Middlesbrough came against Northampton Town.

15 Mauricio Pellegrino, Valencia to Liverpool, 5 January 2005

The former Argentina defender had a notable career in Spain but was 33 when he was tempted to Anfield and clearly over the hill. He arrived on a free transfer – and Benitez got just what he’d paid for. Pellegrino made thirteen appearances and was released at the end of the season.

14 Yaniv Katan, Maccabi Haifa to West Ham United, 3 January 2006

The Israel forward signed a four year deal at Upton Park, which proved optimistic since he was ushered out of the door and back to Maccabi Haifa within six months after just six appearances. Certainly not the next Yossi Benayoun, but at least Katan only cost £100,000.

13 Aleksandar Rodic, NK Gorica to Portsmouth, 31 January 2005

A star in Slovenia, a non-entity in Hampshire. Milan Mandaric, then Portsmouth chairman, talked up Rodic’s ability but Harry Redknapp did not detect much. The striker made only one start and three substitute appearances for Portsmouth.

12 Tomasz Frankowski, Elche to Wolverhampton Wanderers, 25 January, 2006

The forward arrived at Molineux with a record of one goal every two starts for Poland. Sadly, he was a waste of £1.4 million, his eighteen appearances yielding not a single goal. His decline was so sharp that he was left out of Poland’s World Cup squad despite being a star of the qualifying campaign.

11Eric Djemba-Djemba, Manchester United to Aston Villa, 31 January 2005

One of Sir Alex Ferguson’s worst ever signings – but was all the Cameroon midfield player needed a change of scenery? The answer, Villa found out, was no. He really was hopeless. The £1.35 million buy made a handful of appearances and was loaned to Burnley.

10 Jiri Jarosik, CSKA Moscow to Chelsea, 7 January 2005

See, Jose Mourinho wasn’t perfect, after all. Jarosik signed for an undisclosed fee, thought to be several million pounds, but made only three starts. The Czech midfield player had no chance to atone for the lukewarm beginning to his Stamford Bridge career as he was sent to Birmingham on a season-long loan then sold to Celtic on his return.

9 Malcolm Christie, Derby County to Middlesbrough, 31 January 2003

And on the same day they bought Michael Ricketts. In fairness, Christie’s failure to set Teesside alight after his £3 million switch can be explained by persistent injury problems. He was at the Riverside Stadium for more than four years and played fewer than 50 games, scoring nine goals.

8 Scott Parker, Charlton Athletic to Chelsea, 30 January 2004

The busy and tidy midfield player was a rising star in 2003-04 and Charlton were desperate to hang on to him. Money talked, though, and a £10 million bid was good enough for Parker to move across London. Core of Charlton, he was a satellite at Chelsea. After eighteen months of near-irrelevance he was off to Newcastle for £6.5 million.

7 Andy Reid, Nottingham Forest to Tottenham Hotspur, 31 January 2005

Stocky, or chubby? Gary Megson, the former Forest manager, suggested after the sides met in an FA Cup tie that the small winger was on the large side. Martin Jol, who paid £4 million for Reid, did not agree – but performances were definitely lean and Reid was sold to Charlton for £3 million, eighteen months later.

6 Fernando Morientes, Monaco to Liverpool, 13 January 2005

What a masterstroke by Rafael Benitez: persuading his Spanish compatriot, an experienced international, to leave Real Madrid for Anfield. Sadly, Morientes was terrible. After a hapless year and a half he was dispatched back to Spain, Liverpool recouping less than half their £6.3 million outlay.

5 James Beattie, Southampton to Everton, 5 January 2005

The striker became the Merseysiders’ record signing but his goalscoring rate was far worse than at Southampton. An adequate 2005-06 was followed by a dire 2006-07 as he failed to gel with the free-scoring Andrew Johnson. He was sold to freshly-relegated Sheffield United for £4 million last summer.

4 Konstantinos Chalkias, Panathinaikos to Portsmouth, 28 January 2005

Tall, yes. He is 6ft 7in. Good? No. A string of dodgy performances saw the Greek goalkeeper lose his place to Jamie Ashdown after just five league games. Neither Chalkias nor Velimir Zajec, the director of football, lasted long on the south coast.

3 Georgios Samaras, Heerenveen to Manchester City, 30 January 2006

Capable of the odd spectacular goal – but then for £6 million, so he should be. Just eight league goals in more than fifty games, he has made only seven appearances this season. At 22, the Greek striker is still young, but his days at City seem numbered.

2 Michael Ricketts, Bolton Wanderers to Middlesbrough, 31 January 2003

On loan at Walsall from Oldham Athletic these days, and still only 29, the former England striker’s fall from grace has been dramatic. He had already peaked when Middlesbrough foolishly paid £3.5 million for him. Eighteen months later, after only three goals, he joined Leeds United on a free transfer.

1 Jean-Alain Boumsong, Rangers to Newcastle, 1 January 2005

They must have laughed long and hard in Glasgow – getting £8 million for a player they signed for nothing. Who is useless. Graeme Souness, what were you thinking? He paired Boumsong with Titus Bramble and they competed to see who could make the most blunders.

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