Clubs have until midnight on Monday, February 1 to get their business completed for the remainder of the season and with time running out there has been a sharp increase in activity with most teams expected to be active, whether it be players brought in or moved on.
It is shaping up to be a fascinating weekend and transfer deadline day, especially with a number of fixtures taking place on Saturday. They could quite easily take a seat in the background depending on what happens with ins and outs.
After all, this week has already thrown up a few surprises.
Here is Friday’s transfer news:
Celtic are hoping to sign Preston North End defender Ben Davies before the end of the transfer window. The 25-year-old is set to sign a pre-contract agreement with the Scottish champions. However, Neil Lennon wants to bring the move forward following the departure of Jeremie Frimpong and injury to Christopher Jullien. Davies can play at centre-back or left-back. (Scottish Sun)
Hearts boss Robbie Neilson is still looking to add to his squad. Having added Gary Mackay-Steven and Armand Gnanduillet, he wants to add a midfielder and defender. While he also expects there to be departures, including Craig Wighton, Loid Damour and Lewis Moore. (Evening News)
Sam Cosgrove could be set to leave Aberdeen with the club considering a £2m offer from Birmingham City. The striker was a target for Sheffield Wednesday but the Championship club viewed the Englishman as too expensive. The Dons have previously accepted a £2.5m bid from French side Guingamp. (Daily Record)
The 12 Scottish Premiership clubs are set to be boosted by emergency loans from the Scottish Government following an agreement with the Scottish FA. The clubs won’t be charged interest and the loans will be repaid over 20 years with the first instalment not due until 2022. (The Times/Michael Grant)
Alex Neil has emerged as one of the front-runners to replace Neil Lennon as Celtic boss. The Preston North End, and former Hamilton, manager has had his odds cut to just 2/1 having been as high as 33/1. (Skybet)
Hibs have offered big fees for two star players. Millwall have put in a £1m bid for centre-back Ryan Porteous, while Kevin Nisbet is the subject of a £2m offer from Birmingham City. It would represent shrewd business from Hibs who are considering the offers, with Porteous having emerged from the academy, while Nisbet was bought for £200k in the summer. (Scottish Sun)
Hearts have put a second contract extension offer to star midfielder Andy Irving. The Tynecastle side have improved on their first offer after the player and his representatives responded with what they wanted. (Evening News)
Rangers winger Jordan Jones will make a move to Sunderland. The winger is on the verge of a loan switch until the end of the season. Jones has played just four times for Steven Gerrard's side this campaign. (Daily Record)
Jason Cummings is back in Scottish football, signing a deal with Dundee until 2022. The former Hibs and Rangers forward was most recently with Shrewsbury Town where he endeared himself to the club’s fans with a brace against Liverpool in the FA Cup. (Dundee FC)