Pat Nevin
Former footballer and presenter
Right now, brinkmanship is the name of the game. There have been times when some clubs sorted their transfer business early in the window and everyone wondered why so few others followed their lead. Put simply, it isn't in the selling clubs' financial interest, and it usually isn't in the moving player's financial interest either, to go early.
A selling club wants a bidding war to up the price and they don't mind a bit of panic buying when the window is creaking ever nearer the sill. If you still haven't signed that star player who you think, hope or maybe even actually believe, will make all the difference, clubs can get twitchy and make rash costly decisions.
I have watched it happen from within. Good intentions and a willingness to stick to a pre-arranged budget, suddenly evaporates when clubs are bounced into making these calls. There is also a bit of pride in there too. "We aren't losing out on our first choice to that lot!" is a common refrain, especially when it's to one of your close rivals.
As for the moving player, or more specifically his agent, last-minute brinkmanship is the dream scenario. Playing two or three suitors off against each other (and you don't even have to tell the truth of what you are being offered elsewhere) means you can exaggerate as much as you like to up the ante.
So that is why the deals go to the wire, and why they are so lucrative. It is also why I never have too much sympathy for a player, when a huge deal falls through at the last moment. Greed can push it too far in the end and it can all come crashing down, which is why they call it brinkmanship! If you dance on the edge of a volcano you might just fall in.