It seems yesterday's Transfer Talk was rather wide of the mark in predicting that the lifting of the transfer embargo currently imposed on Coventry will lead to a flourish of activity this month.

It had been thought that Ray Ranson's imminent takeover of the Midlands club would release £20 million-worth of funds, but Cov boss Iain Dowie has now been told any new players will have to be funded by the sale of existing squad members.

Dowie lamented: "It will be a case of wheeling and dealing but we have worked with next to no finances since we have been here. If we are going to have to tough it out for the next six months then that is the case."

Not quite the situation Coventry fans had envisaged, but then again what good is a promise if it cannot be broken?

A bit like a footballer's contract really. That would go a long way to explaining why they are rarely honoured and players regularly leave clubs before seeing out the full length of their original deals.

Anyway, we digress. Back to more transfer talk before the boss notices we are slacking off and decides to tear up our contract.

Fulham are still sniffing round Watford striker Marlon King with a £3.5 million bid having already been tabled according to some reports. But Hornets boss Aidy Boothroyd remains unimpressed and determined to keep hold of his star striker. Watch this space.

Mick McCarthy could be forgiven for feeling as though he is banging his head against a brick wall in his pursuit Norwegian defender Erlend Hanstveit. The Wolves boss has already had a £500,000 bid for the Brann left-back rejected and the deal has since stalled somewhat, although talks are still ongoing.

"If and when there is a deal, we will say it, but at the moment it's hard to say what will happen. I don't want to say anything more at this stage," Brann sports director Roald Brunn-Hanssen said.

Burnley may as well give up on their chase of Sheffield Wednesday midfielder Glenn Whelan after a bid was rejected by the Yorkshire club. Clearly the Owls want to hang on to the 23-year-old - a bid from Plymouth was also rejected earlier this week - with boss Brian Laws saying: "it is certainly not an offer that interests us at this time and we have turned it down accordingly."

Tearaway Leicester goalkeeper Jimmy Nielsen has reached agreement with Danish side Vejle, but he remains confident of making the move back to his homeland before the transfer window closes at the end of the month. Casino-Jimmy said: "I have reached an agreement with Vejle but some things are still to be sorted out with Leicester, this is taking longer than I expected."

And finally, striker Grzegorz Rasiak has rated his chances of leaving Southampton as "50-50". The Poland international claims that clubs in Italy and Spain are interested in him. That will be Siena and Almeria then.

Mike Hytner / Eurosport