Almost two weeks into January and despite Nigel Pearson's preference to get deals done early, Bristol City are awaiting their first arrival of the New Year, although that statement shouldn't really be surprising.
It won't be through the want of trying as the Robins try and navigate through a notoriously difficult transfer window as clubs are able to charge premium prices while City attempt to negotiate deals on a stringent budget.
The message has remained consistent from the manager, City will need to allow players to leave by either trading or freeing up the wage bill before anyone is allowed to come in. As it stands, there has been one notable departure in Ryley Towler who joined Portsmouth on a low six-figure sum.
As Pearson mentioned in his press conference last week, that money will be invested back into the academy rather than be put towards first-team signings. There has already been plenty of transfer speculation doing the rounds regarding both incomings and outgoings.
Pearson shot down reports linking City to Nottingham Forest's attacking midfielder Ateef Konate while Bournemouth's Jamal Lowe was also erroneously suggested to be a target. On the other hand, both Alex Scott and Antoine Semenyo are never far from the headlines with Premier League clubs circling for their signatures.
Whatever happens, it's shaping up to be an important month and there's a degree of uncertainty about how the squad could look by the time Pearson's side travel to Preston on February 4. Here are five transfer questions for Pearson to ponder with less than three weeks until the window closes.
Can City offload their out-of-favour players?
This appears to be the major sticking point if City are to try and get any business concluded this month. The need to reduce the wage bill remains paramount and was emphasised by Pearson's decision to tell three players who are reaching the ends of their deals they are free to leave the club this summer.
Now we must stress that we are just purely speculating about who those players are. But it's fair to assume striker Chris Martin and Timm Klose must be considering their futures beyond this month.
Both have fallen, not only out of first-team contention but also out of the matchday squad. With their deals expiring in the summer, it seems unlikely either will get themselves back into contention unless there's a major injury crisis.
Klose hasn't featured since the 3-1 home defeat with Lincoln having also had a difficult showing in the 2-0 defeat at Reading a couple of weeks prior. Pearson also said earlier in the season that the Swiss defender, who was battling with a knee injury towards the beginning of the campaign, hasn't looked at his sharpest in training.
Striker Martin has also only seen eight minutes of league action since that cup exit to Lincoln and has been left out of the last four matchday squads. He's seemingly fallen down the pecking order with Sam Bell's form for the Under-21s being rewarded with substitute appearances.
Although that could now change, at least for the next two weeks, following the hamstring injuries to Andi Weimann and Tommy Conway.
Neither players are likely to be on the top end of the pay packet but any fees freed up are likely to prove beneficial in signing new faces. There's also the Han-Noah Massengo situation who has almost certainly played his last senior game for City. Pearson has made it clear he has decided to run down his contract and it would benefit all parties if he can secure a loan or permanent move away this month.
Will Dan Bentley leave this month?
Another player whose contract expires in the summer, all signs are pointing towards Dan Bentley's time at Bristol City coming to an end. Bristol Live understands Stoke are interested in taking him in on a loan deal until the end of the season and will pay a contribution towards his wage packet.
Having fallen out of favour under Pearson for the second time in less than 12 months following the defeat against Birmingham, Max O'Leary has come into the fold and ensured the No1 shirt for the foreseeable future.
The club captain will take no pleasure from warming the substitutes' bench and his absence from the starting XI in the FA Cup draw with Swansea perhaps magnifies the bleak position he finds himself in at the moment.
Bentley joined the club in 2019 from Brentford and is towards the higher earners in the squad which is only further temptation to let him leave, especially as he's not getting first-team minutes at the moment. There lies the risk of whether Stefan Bajic is eyed as a reliable back-up stopper until the end of the season if City decide against bringing in a new stopper.
The young Frenchman had a difficult debut against Lincoln but has been impressive in the Under-21 campaign following his summer arrival from Ligue 2 Pau. However, if O'Leary gets injured hypothetically and City are still languishing around relegation, does Pearson have the faith in Bajic to step up if needed?
Then there's the debate about who will be third choice which is likely to come down to Harvey Wiles-Richards or Will Buse who are both on loan at Hereford and Yeovil Town respectively.
Do City sell Scott or Semenyo?
This is likely to be the debate throughout the month with Premier League interest in both City's most saleable assets. The club's financial state needs no introduction with the manager remaining open to the fact they have to continue working to balance the books.
It's also clear that both players will leave for bigger things when the time is right, however, both Scott and Semenyo's situations are different in regard to their long and short-term futures. For example, Scott's contract expires in 2025 and therefore the club have security and a greater influence over his immediate future.
That was emphasised following the reports in the Telegraph on Tuesday evening claiming Wolves have baulked at City's £25million asking price for the England-Under 20 international. Given his importance to the side, the precarious league position and the number of top-flight clubs interested, City can stand firm in their valuation.
Semenyo's deal, on the other hand, expires in 2024 meaning they theoretically have to sell either this month or in the summer. With Pearson's side three points above the bottom three and the striker hitting form, there's certainly a risk vs reward factor when it comes to letting him leave.
The risk is obviously that City lose one of their best talents and a player who can create something out of nothing. He can single-handedly fire the Robins up the league if he continues to hit a rich vein of form - as he did in the second half of last season. Two goals in his last two matches is evidence he is close to hitting peak form.
There's also the risk is having to find a replacement - no easy task in January with clubs able to inflate their valuations halfway through a season. The recent hamstring injuries to Weimann and Conway will also offer an added reluctance to let him leave given the lack of options in the attack.
Weimann is out for two weeks while Conway will undergo further scans to determine the severity of his problem although it's assumed it's more serious than the Austrian's. That leaves Semenyo, Nahki Wells, Bell and Martin vying for positions but as mentioned above, the latter is out of favour at the moment.
The reward for letting him leave involves City pocketing a healthy fee for a player they have nurtured through the academy. That allows them to generate some much-needed cash to put back into the coffers while also giving the opportunity to invest in the rest of the squad - not only for a new striker if one becomes available but also for a potential defender and midfielder too.
Will Pearson get his maverick?
He wanted one in the summer having failed with his approach for Reda Khadra and attempted to bring him to the club once again this month after his loan spell with Sheffield United was cut short. However, despite Pearson's comments suggesting the player would suit coming to Ashton Gate, it was a case of persistence didn't pay off after the 21-year-old joined Birmingham City on Tuesday.
The manager's stance remained the same when talking about his intentions to bring the player to BS3 by saying it will only happen if one or two players leave this month. That could have been one of the reasons why Khadra opted to join John Eustace's side instead of waiting for the domino effect to take place at City.
City have also been linked with Nottingham Forest's Konate and Bournemouth's Lowe during the window. Pearson dismissed the links with Konate following the draw against Swansea while Bristol Live understands Lowe isn't an option this month.
They'll no doubt be other targets on the horizon but Pearson wants a matchwinner who can turn a tight game on its head from nothing. Despite the lack of wins (three in 20) they have only lost two out of their last seven in all competitions which again taps into the need to add a talent who can change a game.
Not only that, there could be an element of getting a player in who can get the fans on their feet and spread some excitement around Ashton Gate with the atmosphere in BS3 dwindling over the last couple of months.
How will the defence look on February 1?
It's an interesting debate considering Pearson has found a relatively settled and balanced backline. A back three of Zak Vyner, Rob Atkinson and Kal Naismith have been steady in the last three games conceding twice including that error in Sunday's FA Cup draw with Swansea.
Pearson wants to sign a new central defender and has previously alluded to a right-footed and right-sided addition. There's also Tomas Kalas who is braced to make his return from injury this month meaning there could potentially be five players vying for three places.
As the manager would put it, that's healthy competition and it will ensure they will have to be at the top of their game in order to keep their starting spots in the side. Vyner fully deserves the praise he has received this season and remains the most consistent performers following the difficult second half of the last campaign.
No player is undroppable but Naismith remains one of the first names on the team sheet especially given his leadership qualities and ability from dead-ball situations. He's also cut out the glaring errors that cost City valuable points in the first part of the season.
So then you have to look at Atkinson. His absence from the squad against Stoke posed questions about his place in the side and he started the following West Brom game on the substitute bench. Although he put in strong performances in the away fixtures against Millwall and Coventry to stake his claim.
A howler against Swansea wouldn't have helped his cause but in fairness, he showed real character to bounce back with a strong performance. What Atkinson offers, more than his defensive partners is his ability in the air both from a defensive and attacking sense. No player averages more headers per game in a City shirt than the former Oxford United man.
So Pearson will have the decision to make on his hands with Kalas coming back and a potential new recruit which could be made even more complicated if he opts to switch to a back four. George Tanner and Vyner will battle for the right-back role with Cam Pring on the opposite flank leaving a choice for the two central defenders.
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