Financial realities eventually hit home at top clubs

The move marked a significant shift away from the satellite broadcaster's previous stance of using free-to-air television as a marketing tool to attract subscribers to its pay-tv service.

After eight years, the change did not go down too well with those who either cannot or will not hand over a significant chunk of their income every month to Rupert Murdoch and his ilk.

To many, it was just another example of how football – the staple diet of Sky Sports News, even in the summer months – was continuing to price out the ordinary working fan.

In terms of the next few hours, however, Rupert may just have done those people a favour as the most hyped day in the football calendar is picked apart by a Sky Sports team who, with each passing year, seem to lose touch more and more with reality.

Only, for instance, on August 31 – or, to a slightly lesser extent January 31 – can a footballer driving into his own club's training ground be considered to be worthy of the 'breaking news' ticker that runs across the bottom of our television screens. Or yet another Sky reporter feeling the need to show the viewers the unfeasibly large number of mobile phones that he owns.

Yes, today is a day when madness will reign at Sky as reporters dispatched to various training grounds report very little and presenters raise their voices despite less actually happening.

This year's deadline day is likely to be even worse with the transfer window having been more subdued than normal.

Even allowing for the largesse of Manchester City, a shortage of cash has been apparent to suggest even football is feeling the pinch in these difficult economic times.

Two summers ago, for instance, Fulham thought little of splashing out 10.5m on Andy Johnson, while Juande Ramos spent almost 70m bringing Luka Modric, David Bentley, Roman Pavlyuchenko, Heurelho Gomes and Vedran Corluka to Tottenham Hotspur.

Even last year, Liverpool were willing to pay Portsmouth a very generous 17m for Glen Johnson during a recession that also saw Middlesbrough receive 12m for Stewart Downing as money continued to talk in the Premier League.

The summer of 2010 has – Manchester City's 130m spree apart – been a very different story with clubs reluctant to spend big even on established internationals.

Mark Schwarzer may be 36 in October but surely Arsenal can afford more than the bid of an initial 2m they have twice made this summer in an attempt to prise the former Bradford City goalkeeper away from Fulham?

Okay, the Australian might only play for a couple of seasons at the Emirates Stadium.

But the same was said about Edwin van der Sar when Sir Alex Ferguson brought him from Craven Cottage at the age of 35 and the Dutch goalkeeper now has three Premier League titles and a European Cup to his name.

Is quibbling over a million or two really worth it when the signing of a reliable goalkeeper might just be the transfer that transforms Arsenal into a side with genuine title aspirations? In a normal summer, the answer would be a resounding 'no' but things appear to have changed.

Instead of the usual money-go-round, free transfers and season-loan loan deals have become much more prevalent in a top division where William Gallas moving across north London for nothing is now considered a big deal. Ditto Sol Campbell's arrival at Newcastle United, whose total outlay this summer stands at a meagre 1.5m – the fee the North East club paid to Nottingham Forest for James Perch.

Here in Yorkshire, this apparent unwillingness of top-flight clubs to part with cash can only be why Jimmy Bullard is still at Hull City when it is an open secret in football that the midfielder is available on loan.

The Tigers are even willing to stump up a decent percentage of his wages but, despite that, there have been no takers for someone who, as recently as last November, was named the Premier League's Player of the Month.

A tightening of financial belts has been apparent for some time in the Football League, where even the most ambitious clubs baulk at paying much more than a few hundred thousand pounds for proven ability.

This reluctance – or, in many cases, inability – to spend is why loan signings are increasingly being seen as the way forward by all clubs.

It is why today's most likely transfers are loanees with Robbie Keane, Robinho and Roque Santa Cruz just three of those who could make temporary switches before 6pm.

Likewise, Shay Given who, despite being one of the top three or four goalkeepers in the Premier League, could find himself condemned to watching from the sidelines until at least the start of 2011.

Loan moves are not just attractive to clubs hoping to snare a bargain but also those willing to allow their players to leave. Not only does a temporary transfer help cut a club's wage bill, but it also helps prevent a disaffected player having a negative affect on dressing room morale.

Along with a scarcity of cash, another reason for this having been the quietest summer transfer window since they were introduced in 2002 is a change in legislation in the Premier League.

Tomorrow, all top-flight managers must name a 25-man squad that contains at least eight home-grown players. Some, most notably Manchester City and Spurs, will have a surplus – something that has led to clubs such as Newcastle and Everton having bided their time, waiting to see who becomes available.

Today will show just how successful such a policy has been.