The January transfer window closed on Thursday with the Premier League’s spending power considerably down on previous years. Based on reported fees, top-flight clubs in England spent around $120.55 million on signings, not including loan deals. A year ago, Chelsea’s $357 million mid-season spree was part of a league record outlay of around $831 million. Figures never looked like getting anywhere near those levels this year, with loan deals dominating the market.