The January transfer window has seen unprecedented spending this year, especially when compared to the same period last season. Barclays Premier League clubs have spent over £200m this month compared to around £30m in 2010.
Of course, two clubs dominated the headlines on yesterday's Deadline Day. Chelsea had had a quiet time of it in recent transfer windows, not least because of the Gael Kakuta saga a couple of windows back, but this time they announced their re-emergence on the top financial table with a vengeance. The long-awaited, will they, won't they story finally reached a conclusion with the sensational signing of Benfica's David Luiz. Oh, and they signed some bloke called Torres as well.
Of course, Luiz adds defensive options to the club that perhaps they have lacked since Ricardo Carvalho's departure in the summer, and there have been questions about the form and fitness of Alex, Jose Bosingwa and John Terry. I'm sure he will be a great addition to the back line, but it is the Torres signing from Liverpool, for a British transfer record fee of £50m, that has really got the Blues fans excited.
Liverpool would have been desperate to keep their star striker, one who on form is possibly the best in the world, although this season he has cut a forlorn figure, and especially during the Roy Hodgson era, looked like a player who wished he was anywhere else. But every player has his price, and as soon as it became apparent that El Nino wanted to leave, Liverpool would have been crazy to turn the money down. Now, Torres has got his move, I expect him to hit the ground running. A goal against Liverpool on Sunday would be the perfect way to announce his arrival at Stamford Bridge. Of course, one added benefit is that he is not cup-tied for the Champions League this season, unlike the majority of big money January buys have been down the years. Torres is as desperate as Chelsea are to win what the club sees as the holy grail, their first European Cup.
The £50m didn't stay in the Anfield coffers for long though. The £22.8m deal to bring in Ajax's Luis Suarez had been done before Torres' move south, and that should be a great piece of business, but it was their second purchase which really got heads turning.
Newcastle frontman Andy Carroll is obviously a player of huge talent, and tremendous potential, but a £35m price tag is one worthy of all-time greats - David Villa was signed by Barcelona for £34m for example- not players with just 34 career goals, and only half a season of regular Premier League starts. That said, he has proven himself to be capable of playing with a huge weight of pressure on his shoulders - he was Newcastle's number 9 of course, and they don't give that shirt away in a raffle. With a good strike partner in Suarez, and service from Steven Gerrard, he should bang them in when he is fit, but if not, there will be questions asked about just why Liverpool paid quite so much money.
Of course the positive PR for the new owners might have had a great deal to do with it. What better way for John W. Henry and his team to announce 'We are not Hicks and Gillett, we are here for this club and its fans' than to spend the sort of money that could put Liverpool back to where they feel it belongs?
One thing is for sure, Sunday's game at Stamfor Bridge between Chelsea and Liverpool is sure to be a fiery one. Their intense rivalry which has developed over the last six or seven years or so is about to enter a whole new exciting chapter.
