Breaking down all the major deals, rumors from transfer deadline day

The transfer window closed today at 2 p.m. ET for many of Europe's top leagues. La Liga clubs have until 5:59 p.m. to complete their business. Below, we dissect the biggest deals and rumors from deadline day.

Need to know 📌

• Arsenal stay quiet
• Ronaldo upset with Al-Nassr
• Mateta deal collapses
• Palace sign Strand Larsen
• Liverpool win Jacquet race
• Moves that fell through

No last-minute Arsenal move 🤔

Arsenal boss Mikel Arteta said the Premier League leaders were "actively" looking for reinforcements Monday after losing namesake Mikel Merino to a broken foot that will require surgery and possibly rule the midfielder out for the rest of the season. The problem, of course, is that they simply ran out of time. Finding a suitable replacement on such short notice is nearly impossible. Most clubs spend weeks, if not more, working on deal structures, payment terms, and several other fine details after initially identifying a target. Doing all that in just over an hour was wildly unlikely.

Teams can still complete signings after the deadline if they submitted a deal sheet before 2 p.m. ET, but Arsenal appear content with what they have. Clubs can also still sign existing free agents after the transfer window shuts, but any player still out of contract midway through the season is without a club for a reason. Those types of additions certainly wouldn't fit the bill for an Arsenal squad that has genuine aspirations of lifting multiple trophies in 2026.

Rumors of a last-ditch move for Newcastle star Sandro Tonali were swiftly debunked and accredited to intermediaries simply reaching out to gauge interest in the Italian rather than a credible bid being put forth.

CR7 unhappy with Al-Nassr 😡

Cristiano Ronaldo is so upset with Al-Nassr's lack of transfer activity that he's effectively going on strike for at least one match in protest, sources told Bruno Andrade of ESPN. The Portuguese star is unhappy that Saudi Arabia's Public Investment Fund (PIF) is funding moves for rival outfit Al-Hilal - one of several Saudi Pro League teams bankrolled by the PIF - and not his side.

Al-Hilal, who are three points above Al-Nassr for top spot in the table, have made multiple moves in the transfer window and been linked with a late deal for Karim Benzema. Al-Nassr, meanwhile, have only added midfielder Haydeer Abdulkareem from Iraqi club Al-Zawraa.

Could this escalate to Ronaldo demanding a move away from the Saudi Pro League? It's unlikely despite the onslaught of rumors about a potential departure last summer. Ronaldo's the crown jewel of the kingdom's massive effort to reshape the world's sporting landscape, so there would surely be huge resistance to any move from the PIF's side. As for Ronaldo, the league provides him the most uncomplicated path to his primary target of reaching 1,000 career goals. He won't jeopardize that.

If there's truly a fracture that can't be repaired, the most likely outcome would probably involve Ronaldo simply joining a different Saudi side.

Mateta's Milan move collapses ❌

Jean-Philippe Mateta's transfer to AC Milan falls apart

The winter's most protracted saga took one final twist. What's deadline day without an unexpected U-turn at the 11th hour?

Mateta was set to complete a desired move to AC Milan after Crystal Palace and the Italian club agreed to a transfer worth over €30 million. Then there were rumblings about issues with a pre-existing injury, and Milan reportedly pulled out of the deal after putting the Frenchman through rigorous medical tests that he ultimately failed. What a mess.

Mateta was seemingly close to joining Nottingham Forest earlier in the window, had a brief flirtation with Juventus, and then landed on Milan as his preferred destination. So, nobody wins in the end.

The Rossoneri have been searching - and failing - to find a suitable No. 9 since the departure of Olivier Giroud years ago, and Mateta looked like the best fit yet. The 28-year-old is a well-rounded striker who thrives on getting into dangerous scoring areas and connecting with passes into the penalty box from creative wide players. With Rafael Leao and Christian Pulisic more than capable of providing that kind of service, Mateta likely would've been an immediate hit at the San Siro.

Milan look like the only team truly capable of challenging bitter city rivals Inter for the Scudetto this season, but Massimiliano Allegri's club needs more firepower to stay in the hunt.

Palace's big overpay 🤦

Crystal Palace sign Jorgen Strand Larsen for £48M

The winter window has been a nightmare for Crystal Palace. In addition to the exhausting ordeal outlined above involving their leading scorer, captain Marc Guehi left for Manchester City, and manager Oliver Glasner announced that he's taking off at season's end. Woof.

To top it off, they went ahead with an opulent deal for a striker who has one Premier League goal so far this season, despite the fact that Mateta now remains in the picture. And they spent £48 million on him. What are we doing here, Eagles?

Sure, there are some mitigating factors at play. Wolves are, by some distance, the worst team in England's top flight; they're still in danger of setting an unwanted record for fewest points in a single Premier League campaign. So, I'm not going to hold Strand Larsen solely responsible for his pitiful numbers on the campaign, considering the situation he's been in.

But this feels like a huge overpay for an old-fashioned target man who, despite providing another big, physical presence up front, is a very different striker from the one he's (in theory) taking minutes away from. The 25-year-old Norwegian offers good holdup play and takes almost all of his shots from inside the penalty area. But he lacks the mobility of Mateta and ability to make the kind of runs behind defenders that can stretch the opposition and open up space for teammates.

Perhaps they could play up front together? Chuck it in the mixer, lads.

Liverpool bolster backline 💪

Liverpool to sign Jeremy Jacquet for £60M

On the surface, this is an obvious win for a Liverpool team that's dangerously short on center-back options.

Longtime unflappable stalwart Virgil van Dijk, now 34 years old, is showing signs of decline, while Ibrahima Konate, the club's only other fit central defender right now, is an impending free agent. Things get really thin, really fast after that. Securing Jacquet, one of France's most promising and coveted defensive prospects, is a boon, especially since the Merseyside squad reportedly beat out a direct rival in Chelsea for the 20-year-old's signature.

But the young defender isn't expected to arrive at Anfield until the summer, with Liverpool agreeing to let him remain at Rennes for the rest of the season. Future-proofing the backline is great - Jacquet could eventually form a partnership with Italian teenager Giovanni Leoni - but it doesn't address the elephant in the room, which could absolutely come back to bite a team that's battling for a Champions League berth.

Liverpool reportedly explored a deal for versatile defender Lutsharel Geertruida, the Dutchman currently on loan at Sunderland from RB Leipzig, but the mechanics of getting all three clubs to agree to terms proved too complicated with time running out. That would've been precisely what Arne Slot needed on deadline day; Geertruida can provide solid cover at right- and center-back, where Liverpool's needs are most glaring. Alas.

Lookman finally leaves 👋

Atletico Madrid sign Ademola Lookman for €40M

Lookman's career has been a wild ride ever since his spectacular hat-trick in the 2024 Europa League final.

He clashed with Atalanta over apparent broken transfer promises, spent time on the outskirts of the team, came back and immediately looked like the squad's best player, and then endured a mediocre start to the current campaign. (Lookman has scored only two Serie A goals in 2025-26.)

Finally getting the type of marquee move he's long wanted, will he be reinvigorated and return to the kind of form that made him one of the game's more devastating wingers?

Atletico sure hope so.

Diego Simeone's squad lacks a winger who can consistently bamboozle defenders with one-one-one dribbling and create chances for teammates or finish on his own. At his best, Lookman offers all of that. With Julian Alvarez in a rut - the Argentine hasn't scored a league goal since November - Atleti need Lookman to provide an injection of electricity into a stagnant attack.

Ones that got away 😱

There's always a handful of deals that, for one reason or another, aren't completed in time on deadline day. Here are some of the moves we were tracking that didn't get over the line.

Have your say on the transfer window in the comments!

• Best move of the window?
• Which deals will age the worst?
• Regrets your team may have?