Article: During the winter transfer window, clubs demonstrated caution and thriftiness © EuroFootball.com

Football fans waiting for exciting news had to be disappointed - the 2012 winter transfer window was particularly quiet and frugal, writes "Goal.com".

Probably one of the reasons for such low activity is the difficult financial situation in the country. In addition, FIFA has started implementing a financial regulation package, according to which clubs will only be able to spend what they earn after a few years.

Currently, it is still allowed to incur losses, but the limit will gradually be raised, so the careful balancing of income and expenses has already begun.

An example of this is one of the best strikers in the world, Carlos Tevez, who has played for teams like "Milan," Inter Milan," and "Paris St. Germain," but has not left anywhere. None of the clubs are willing to meet the demanded amount of 25 million euros by "Man City," so they only offered a loan option.

One striking fact is that English "Premier" league teams spent over 270 million euros to acquire newcomers at the beginning of 2011. This year, the combined expenses of the top five football nations are 33.5 million euros lower.

At one point, it seemed that the total expense for this season would not exceed 60 million euros, even though last year that amount was spent just for Fernando Torres. Eventually, it reached the limit of 70 million euros, which is modest compared to 270 million euros the year before.

This time, everyone was saving: those fighting for a place in next season's Champions League tournament and those facing relegation to a lower division. The most expensive player became Papiss Demba Cisse, who transferred to "Newcastle" for 12 million euros.

"In the decade when buying players in the winter transfer window was possible, there was usually not much activity. There were only a few outliers, like last year. Now we have returned to a level very reminiscent of 2004-2007," said Dan Jones, a representative of the financial firm "Deloitte Sports Business Group."

League Expenses:

League20112012DifferenceEngland270 million70 million-74%France14 million55 million+292%Germany54.5 million53 million-3%Italy124 million52.5 million-58%Spain31.5 million6.5 million-79%

German "Bundesliga"

Although the amount spent was almost identical to the previous year, this January was relatively quiet. Most of the total amount - up to 56% - was spent by the sole "Wolfsburg" club, acquiring eight players.

The remaining 17 teams invested an average of less than 1.4 million euros each. Only the leading trio strengthened with Gelzenkirchen's "Schalke" paying 100 thousand euros for Chinedu Obasi's loan agreement.

Last year, there was more action: "Bayern" added Luiz Gustavo, while "Hoffenheim" added Ryan Babel and Roberto Firmino.

Italian "Serie A"

Activity decreased, but many loan deals were made, anticipating significant transfers after this season. The total amount of these agreements can reach around 80 million euros.

The most disappointing attempts were to acquire Carlos Tevez, who was tempted by "Inter," "Milan," and Moscow CSKA star Keisuke Honda. He was one step away from an agreement with "Lazio."

However, these loan deals gave rise to discussions and provided some excitement that was lacking in other countries.

"Napoli" fans were also happy, awaiting the results of the solid investment - will Eduardo Vargas from South America shine after arriving for 13 million euros?

Most Expensive 2012 Winter Transfers (in euros):

Player From To AmountBalazs Dzsudzsakas"Anzhi" Moscow"Dinamo"19 millionEduardo Vargas"Universidad Chile""Napoli"13 millionPapiss Cisse"Freiburg""Newcastle"12.5 millionMoussa Sow"Lille""Fenerbahce"10.5 millionThiago Motta"Inter"PSG10 million

Spanish Championship

Complete silence - Madrid's "Real" and "Barcelona" did not seek reinforcement, and the opportunity to strengthen did not interest clubs like Bilbao's "Athletic," Pamplona's "Osasuna," San Sebastian's "Real Sociedad," and "Valencia."

Others retrieved players previously loaned out, and the only club that incurred expenses was perhaps "Sevilla," acquiring Baba and Jose Antonio Reyes for a total of 6.5 million euros.

"Clubs are currently in a very difficult situation. They don't have a penny. Only those acquired by Russians or Arabs can afford to spend. It's not easy all over Europe," said Barcelona University professor Jose Maria Gay.