Time is ticking as clubs across the country try to do last minute business in the January transfer window.

Everton, Liverpool and their Premier League rivals continue to have the option to sign, sell or loan players for the second half of the 2020-21 season.

There is often a late night mess to get business over the line before the deadline – in this case on Monday (February 1st) at 11pm.

That is not the end of the story, however, as transfers can actually be completed beyond this period under certain circumstances.

Everton Transfer Deadline Day

How can clubs extend the deadline to close a deal?

Clubs can use a deal sheet to give them a little extra time to get everything done on a transfer.

A deal sheet states that the negotiations between two clubs about a transfer were completed before the deadline and the associated amounts. It is not a legally binding contract.

The Premier League explains: “Clubs sometimes close deals at the last minute and it is not always easy for them to get everything done and shipped within the deadline.

“The Deal Sheet can be used by a club to certify that a deal has been closed to allow additional time to submit the remaining documents.

“For a period of 11 p.m., the business sheet cannot be used before 9 p.m. and must be filled out in full before the transmission window is closed.

“As soon as the paper arrives, the clubs have two hours or until 1:00 am to submit the complete application.”

So clubs have until 1:00 a.m. on Tuesday (February 2) to close deals if they use the business sheet within the allowable time frame.

However, if a club wishes to complete an international transfer, it must meet the FIFA Transfer Matching System (TMS) deadline.

Day of transfer deadline in Liverpool

What is the FIFA Transfer Matching System?

“If there is an international transfer, the buying and selling clubs must register it in the Transfer Matching System (TMS) of FIFA so that an international clearance can be generated,” says the Premier League.

“The buying club has to upload all information into the system and the foreign club has to match all the details.

“Our FA will apply for clearance and as long as everything fits, the foreign association will give clearance to the FA, which will then inform the club and the league.

“The Premier League is getting a copy because we need to make sure that player registrations in this country or in Wales with Welsh clubs have been transferred.”