Chelsea issue war cry with Torres swoop

On a remarkable final day of frenetic transfer activity, a number of UEFA Champions League teams made a statement of intent by adding to their ranks ahead of the knockout stage.

Chief among them were Chelsea FC, whose €57.5m deal for Liverpool FC striker Fernando Torres smashed the British transfer record. The London club recently suffered their worst run of results in 15 years, but this injection of quality – which also included €25m SL Benfica defender David Luiz who will be unavailable for UEFA Champions League duty – should stand Carlo Ancelotti's men in good stead. Chelsea, who meet FC København in the round of 16, will now direct their energies towards reaching the Wembley final in May. How do you rate their chances?

AC Milan were also busy on the last day of the month, making Juventus defender Nicola Legrottaglie their fifth winter signing. The 34-year-old brings experience to a side which has sustained a glut of injuries lately, including the loss of Alessandro Nesta, Gianluca Zambrotta and Filippo Inzaghi.

Although another recruit, Antonio Cassano, is ineligible for the Diavolo's European campaign, which resumes against Tottenham Hotspur FC later this month, the arrival of Mark van Bommel from FC Bayern München and full-backs Dídac Vilà and Urby Emanuelson, from RCD Espanyol and AFC Ajax respectively, gives them strength in depth. Do Massimiliano Allegri's team have what it takes to win Europe's premier club prize for an eighth time? Or are they too dependent on Zlatan Ibrahimović – perhaps the best 2010/11 acquisition of all.

Across town FC Internazionale Milano were also busy in the market, landing Japanese international left-back Yuto Nagatomo at the 11th hour on loan from AC Cesena. The European champions, who must negotiate a UEFA Champions League final rematch with Bayern as they seek to repeat their feat of back-to-back European crowns achieved in 1964/65 and 1965/66, may consider themselves ready to roll. Leonardo's men are boosted by the purchases of Giampaolo Pazzini, Houssine Kharja and Andrea Ranocchia. Yet how will they cope against Bayern without the injured Dejan Stanković and Lúcio?

FC Schalke 04 have not rested on their laurels either, drafting in a trio of deadline-day newbies in Rosenborg BK midfielder Anthony Annan, Iranian international Ali Karimi and Greece striker Angelos Charisteas. That triumvirate may just give Felix Magath's squad the right balance to pursue the European glory the Schalke coach enjoyed as a player. With Valencia up next, will the Royal Blues be this year's dark horses?

By contrast it was all quiet on the transfer front for Manchester United FC, Arsenal FC, FC Barcelona, Real Madrid CF, Olympique Lyonnais and Olympique de Marseille. AS Roma and FC Shakhtar Donetsk also kept their powder dry. Have they missed a trick? Or are they good enough already? How have January's dealings affected the destiny of this year's UEFA Champions League title? Have your say.