With the cost of being relegated from the Barclays Premier League about £30 million, it will be no surprise to see teams threatened by the drop trying to do the most business during this month’s transfer window.

A year ago, West Ham United handed over extortionate fees and crazy wages to spend about a quarter of the £65 million invested by top-flight clubs during the month. It paid off when they stayed up on the last day of the season. This time, Sunderland, who are just above the relegation zone, look as if they want to be the first out of the traps. They spent £36 million on players last summer, but have had a £2.5 million offer for Stephen Hunt, the midfield player, turned down by Reading.

Bolton Wanderers have agreed a deal to sign Tamir Cohen, the son of Avi, the former Liverpool player, from Maccabi Netanya. The 23-year-old midfield player is expected to sign a 2½year deal at the club, where he has been training.

Valencia have expressed an interest in John Arne Riise, the Liverpool and Norway left back.

Juventus have reentered the race with Inter Milan for Mohamed Sissoko, of Liverpool. The Mali midfield player signed a four-year contract in the summer after speculation about his future but has started only six league matches this term.

Leicester City have signed Barry Hayles from Plymouth Argyle and Steve Howard from Derby County. Howard, 31, scored 19 goals last season when Derby were promoted to the top flight but has scored only once this season. Howard has agreed a 3½year deal and will play alongside Hayles, 35, for whom Ian Holloway, the manager, returned to his former club. Plymouth have replaced Hayles with Lukas Jutkiewicz, who has joined on loan from Everton.

QPR have agreed to sign Gavin Mahon, the Watford midfield player, on loan with a view to a permanent transfer at the end of the season.

Colchester United have extended the loan of Adam Virgo, the defender, from Celtic until May.