And with a flurry of last minute transfers, deadline day is over all across Europe. FFT takes a look at the deals that went down in a frantic day of trading while you were in bed...
As there is still plenty of paperwork to be finalised even after the official hour has passed, we will update this page as more news comes in – with the latest arranged right on top here.
TRANSFER Darren Fletcher has left Manchester United on a free transfer, joining fellow Premier League outfit West Bromwich Albion. The 31-year-old midfielder has reportedly signed a two-and-a-half-year deal, with an option of a further 12 months.
TRANSFER Steve Bruce has finally got his wish for a new striker, with Hull City sealing a last minute deal for Lokomotiv Moscow's Dame N'Doye. The announcement came after the transfer window had closed, but the Tigers managed to get the paperwork delivered in time to complete the move.
TRANSFER: We are delighted to confirm the signing of Senegal international striker Dame N’Doye from Lokomotiv Moscow for an undisclosed fee
— Hull City Official (@HullCity) February 3, 2015
TRANSFER Left-back Ryan Bertrand has completed a permanent transfer to Southampton on a four-and-a-half-year contract, after impressing Ronald Koeman this season. The England international leaves Chelsea after making 28 senior appearances and plenty of loan moves.
— Southampton FC (@SouthamptonFC) February 2, 2015
SIGNING Australia's evergreen Tim Cahill has announced a move to China. The New York Red Bulls star left the MLS outfit by mutual agreement on Monday and will be turning out for Shanghai Shenhua after helping the Socceroos clinch the Asian Cup.
LOAN Scottish outfit Rangers have secured a grand total of five Newcastle United players on loan. Forwards Haris Vuckic, midfielders Shane Ferguson and Gael Bigirimana, and defenders Kevin Mbabu and Remie Streete have all moved on to the club a temporary basis.
TRANSFER Tottenham fans will be licking their lips at the prospect of wonderkid Dele Alli turning out for them in years to come. The MK Dons teenager has opted to join the Spurs on a long-term deal, but has also been loaned straight back to his former club until the end of the season.
LOAN Everton have won the race to sign Aaron Lennon on loan, with the Tottenham winger making the switch on deadline day. Lennon, who has been capped 21 times for England, reportedly attracted interest from a host of Premier League clubs overnight but chose to move to the blue half of Merseyside.
CONFIRMED: Everton have signed Tottenham winger Aaron Lennon on loan until the end of the season. Welcome, Aaron! #EFC
— Everton (@Everton) February 2, 2015
RELEASE Benoit Assou-Ekotto has been let go by Tottenham after nine years and 206 appearances for the club. The 30-year-old was loaned out to QPR last season, but has not made a competitive appearance for the Spurs since May 2013
LOAN Derby County have strengthened their promotion push with the loan signings of Tom Ince from Hull City. Steve McClaren's side sit second in the English Championship and are bidding to return to the top flight for the first time since 2008.
LOAN Davide Santon has officially rejoined Inter Milan from Newcastle United on an initial loan deal, with an option to make the signing permanent. Santon joined the Magpies from Inter in August 2011, but has struggled with injuries this season.
TRANSFER Wilfred Zaha has declared his happiness at returning to Crystal Palace, after a frustrating spell at Manchester United. The 22-year-old is believed to have sealed a permanent transfer back on a five-and-a-half-year deal with the London club.
TRANSFER Trust Chelsea to make a splash on transfer deadline day, as the Blues announced a swoop for Juan Cuadrado. The Colombian international will sign a four-and-a-half-year deal after moving from Fiorentina.
— Chelsea FC (@ChelseaFC) February 2, 2015
TRANSFER Chelsea attacker Andre Schurrle has sealed a return to Germany after signing a four-and-a-half-year deal with Wolfsburg. The German international won the World Cup in Brazil, but has failed to hold down a first team place at Stamford Bridge.
LOAN Mainz have confirmed that Filip Djurcic has cut short his loan stint from Benfica in order to join Southampton. The attacking midfielder signed a season-long loan deal in August with a view to a permanent move to Germany, but the Saints have stepped in with the player moving to England instead on loan.
SIGNING Much-travelled Yakubu Aiyegbeni has found a sixth English club to call home, after signing for Championship side Reading until the end of the season. The 32-year-old former Nigerian international was a free agent after his deal with Qatar side Al Rayyan expired.
LOAN Serie A leaders Juventus have moved quickly to replace Sebastian Giovinco, signing former player Alessandro Matri on loan till the end of the season. The Genoa striker has the chance to earn a third Scudetto with Juve, after 17 months away from the club.
LOAN Robert Huth has left Stoke City to join Premier League rivals Leicester City on loan for the rest of the season. The Foxes have struggled after earning promotion, and will hope the 30-year-old can boost their defensive ranks.
TRANSFER Sebastian Giovinco will join MLS outfit Toronto six months early after being released from his Juventus contract. The 27-year-old forward was expected to see out the campaign in Italy, but the league leaders have obviously decided otherwise.
TRANSFER AC Milan have made Luca Antonelli their fifth signing of the transfer window, with the defender moving from Genoa. Antonelli has made 18 starts for Genoa this season, but agreed a move back to the club where he started his career on a three-and-a-half-year contract.