This is going to be one of the most interesting transfer windows at Tottenham Hotspur for years.
Spurs have had an inconsistent start in the Premier League under Thomas Frank, with fans increasingly anxious about poor performances at home. The Spurs squad does not look as strong as it has in recent years, with Harry Kane and Son Heung-min not replaced, and Spurs’ best attacking players out injured.
This means that fans are waiting to see if the new hierarchy at the club — since the departure of Daniel Levy in September — can deliver the higher quality of player that they all want to see at Spurs in 2026 and beyond.
The information found within this article has been gathered according to The Athletic’s sourcing guidelines. Sources with knowledge of transfer dealings, who asked to be kept anonymous to protect relationships, have been spoken to before offering the clubs involved the opportunity to comment.
Who will make key decisions over the two windows?
This will be the first window since the radical restructuring that Tottenham have had this season.
In September, chairman Daniel Levy was dismissed after almost 25 years running the club. Then, in October, Fabio Paratici officially returned to the club in a new role as sporting director, alongside Johan Lange, who was promoted from technical director into the same role.
Last month, Paratici and Lange, along with CEO Vinai Venkatesham, travelled to the Bahamas for long-planned planning meetings with the majority-shareholding Lewis family. January will be the first transfer window of this new era.
What positions will they be looking at in 2026?
The evidence of this season so far suggests that Spurs are short in midfield and in attacking positions, so it would only be natural for them to look for upgrades there.
Much will depend on the return from injuries of Dominic Solanke and Dejan Kulusevski, with James Maddison likely to be out for longer. If Solanke and Kulusevski can hit the ground running, then there might be less need for another centre-forward or a creative midfielder in the market.
But right now, the Tottenham squad looks weaker than most of its competitors. And fans will be hoping for a statement of intent from the Lewis family in their first window since Levy’s dismissal.
Are there any players they are already looking at?
Perhaps the most intriguing case concerns Antoine Semenyo.
Tottenham were interested in the Bournemouth winger in the summer, making an enquiry for him, and were told by Bournemouth that he would cost £70million ($92.7m). Semenyo then signed a new contract, but The Athletic’s David Ornstein revealed last month that he has a £65m release clause active this January.
There are currently no indications that Spurs will move for him again in the window, but he would certainly be an exciting option for supporters.
Who will they be looking to sell?
Yves Bissouma has not played a single minute for Thomas Frank yet this season, although part of that is down to an ankle injury.
But he nearly left Spurs over the summer, and it would be a surprise if he is not back on the market in January, even though he is coming into the final six months of his contract.
What moves have they made already?
January will see the arrival of Mason Melia, the 18-year-old Irish striker. Spurs agreed a £2million deal with St Patrick’s Athletic in February for the teenage forward, who then played the whole League of Ireland season with St Pat’s.
Melia finished the season as the second-top scorer in the league, with 13 goals, as St Pat’s finished fifth, just outside the European places. Melia has also shone for the Republic of Ireland Under-21s.
The fascinating question for the second half of this season is whether Melia will come straight into the first team group, competing with Dane Scarlett, whether he will play with the Under-21s or whether he might be considered for a loan move away.
Which players’ contracts are expiring? Who will they renew?
One of the biggest moments of this season so far was Spurs captain Cristian Romero signing a new long-term contract at Tottenham, after a summer of interest from Atletico Madrid.
Now that his future is secured, the focus will turn to Micky van de Ven. The Dutch international centre-back signed a six-year contract when he arrived from Wolfsburg in 2023, meaning that Spurs are under no pressure to renew.
But given Van de Ven’s excellent form this season, Tottenham want to reward him with a new, improved deal.
What is their PSR position? What sort of budget do they have?
Tottenham’s PSR position has always been strong because of the club’s healthy commercial and matchday revenues, their return to the Champions League, and the fact that they have traditionally run a very controlled wage bill.
The question of budget will be a fascinating one, given that this is the first window since Levy’s departure, with Spurs fans hoping that the Lewis family find a way to make a major statement of intent.
What will be the manager’s priority?
Thomas Frank has not spoken publicly yet about what he wants from the transfer window, but it feels like the team needs more goals and more threat from midfield.
Spurs missed out on Morgan Gibbs-White and Eberechi Eze in the summer, ending up with Xavi Simons, who is yet to make much of an impact on the team.
Frank was also interested in his former Brentford forwards Bryan Mbeumo and Yoane Wissa, although they went to Manchester United and Newcastle United, respectively. It would only be natural if he were to want more attacking upgrades in January.