Get excited football fans. The time is here. The time when your club has the opportunity to make a deal that could change their season.
It could be the difference between relegation and survival; between being champions and runners-up; between qualifying for the Champions League or Europa League.
And with the amount of rumours swirling around at this time of year, it can sometimes be difficult to decipher the truth.
Not to worry however, because here at Tribalfootball, we have broken down the week's hottest transfer rumours, and informed you whether to believe the paper talk or not.
You can understand why the Reds have softened their stance. The emergence of Mohamad Salah as the team's lynchpin has shadowed the importance had for Jurgen Klopp's side last season.
However, selling the 25-year-old is predicated on one thing. Buying a replacement.
Barca are willing to pay anything at this point in time. Coutinho is almost jumping out of his skin to board a plane.
If Liverpool can secure Lemar, or anyone similar for that matter, expect Coutinho to finally be granted his dream move.
Likelihood: They'll only sell Coutinho if a replacement is lined up
Dani Ceballos - Real Madrid
Clubs Interested: Liverpool
Speaking of Coutinho replacements, Real Madrid midfielder Dani Ceballos is said to be keen on a move to the Merseyside club.
Unfortunately for him, things haven't panned out the way he would've expected since he joined the Spanish giants from Real Betis in the summer. Zinedine Zidane's formidable midfield trio of Luka Modric, Toni Kroos and Casemiro has resigned the U21 European Championship Player of the Tournament to just two La Liga starts.
This is said to have upset Los Blancos captain Sergio Ramos, who is close with the youngster. Fortunately for Ramos, president Florentino Perez favours a loan move for the 21-year-old.
Coutinho will be hoping Real do him a favour by allowing Ceballos to join the Reds, which would clear the path for his transfer to their El Clasico rivals.
Likelihood: Possible if Liverpool can't sign Lemar
Clubs Interested: Manchester United
Jose Mourinho wants to rival City for players. Right now, the blue half of Manchester have far more attacking quality than his United squad. Dybala is a world-class attacker that would immediately transform what can sometimes be a rigid Red Devils attack.
If United want to get back to their glory days, they'll have to compete with the bottomless coffers that the likes of PSG and City have. Forking out the money for Dybala is the way to do just that.
Likelihood: United will need to blow away the chequebook
The news has put Premier League clubs on alert as Ronaldo has also told Real Madrid he'd like them to lower his release clause from £900m to £90m. The Portuguese experienced a tumultuous off-season with Los Blancos after Spanish tax authorities threatened him with jail following fraud allegations.
It makes sense that Ronaldo would return to Manchester United if he was to decide on leaving Real, but with his insistence on sending his son to a school 'fit for a king' in London, the trio of Arsenal, Chelsea and Tottenham have been put on alert.
Any of the four teams would give anything to sign the 32-year-old. But it would cost a lot more than £90m.
Likelihood: Only if they were prepared to pay plenty of money
Clubs Interested: Barcelona
The Manchester United trio are all out of contract at the end of the season and can sign a pre-contract agreement this month.
All three have featured sporadically for Jose Mourinho this term and would certainly be expendable at the end of the season. But given United are currently competing on three fronts, including the Champions League, it is difficult to see them allowing January moves for the trio.
It is more likely that one or two them will sign a pre-contract, or wait until the end of the season where they can leave for free.
Likelihood: There's too much for United to loose right now