Timeline on transfer deadline day (UK time)

0700: The UK awakens and braces itself for another day of chaotic transfer dealings. The first story to catch the eye is the suggestion that Jermain Defoe may be on his way back to England, possibly to team up with his old manager Harry Redknapp at QPR.

0730: The big story, of course, is the news that broke last night: Radamel Falcao is available for an expensive season-long loan. The papers are split, but they believe there’s interest from Manchester City, Arsenal and Manchester United, the last of whom would be quite something as it’s the defence where they really lack numbers.

0745: Though it seems United may be able to make some room today. Javier Hernandez has been linked with a loan deal to Real Madrid, while Danny Welbeck has been told that he can leave the club. Newcastle and Sunderland will battle with Arsenal and Tottenham for his services, apparently.

0810: Further down the food chain, Burnley look ready to grab George Boyd from Hull. That would be a good signing for the Clarets, who need a partner for Leonardo Ulloa who brings more to the party than Dave Nugent.

0930: Now here’s an interesting one: Micah Richards, the right back once believed to be the future of English football, is heavily linked with a move to Fiorentina. Richards has been out of favour for some time, so much so that most City fans have forgotten what he looks like. A move to Italy would be a huge surprise, especially given the reticence of English players to move abroad.

0950: Curious. Spanish sources are claiming that Falcao is off to Manchester United. How do they know? Real Madrid are a very leaky club and if they’ve accepted that they’re out of the running, they’ll happily tell favoured reporters why. Is Louis van Gaal really going for another striker? There are concerns about Robin van Persie’s fitness, so it’s not out of the question. But surely a new defender first?

1000: Forgotten Liverpool defender Sebastian Coates could be off to Sunderland on a year’s loan, according to reports. Coates was a staple of the 2011 Copa Americawinning Uruguay team, but he hasn’t settled at Anfield.

1030: This is happening. Manchester City have indicated that they are out of the running for Falcao. He’s United-bound. Extraordinary. I hope he can play in defence.

1045: Karim El-Ahmadi, a solid Aston Villa performer, is now a solid Feyenoord performer again.

1100: Hernandez (above) is off to Spain for a medical. If Falcao is at United, there’s certainly no room for the Little Pea.

1120: The excellent James McArthur is about to return to the Premier League after a season in the second flight with Wigan. He’s set to be Neil Warnock’s first permanent signing at Crystal Palace.

1135: Luis Suarez is at Melwood! But he’s just visiting old friends. Stand down.

1145: AC Milan are earning their loyalty-card payments in Chelsea. After signing Fernando Torres at the weekend, they’ve gone back to West London for midfielder Marco van Ginkel. The highly-rated Dutchman was injured early in his Chelsea career and was never able to break into the side. It’s a loan move, so it’s not the end of his time in England.

1200: Welbeck’s representatives have been speaking to Tottenham as he seeks to leave Old Trafford in search of first-team football. But will they have the clout to make it happen? Welbeck (above) is thought to be on enormous wages.

1320: Real Madrid have confirmed the signing of Hernandez on loan.

1400: There could be more outgoings at Manchester City. Clubs are sniffing out the availability of Matija Nastasic and Alvaro Negredo.

1430: Marseille’s Andrew Ayew could be on his way to England. French media is reporting links with Aston Villa and QPR. He’d be an excellent signing for either of them. He’s not quite as good as his dad, the legendary Abedi Pele, but he’s not far off.

1500: Remember that deal to send Fabio Borini from Liverpool to Sunderland? It never happened and now it looks like QPR — who else? — are trying to sweep the Italian (above) down to London.

1545: It’s not over yet for Arsenal. There are suggestions that a pursuit of William Carvalho is still on. They certainly need a defensive midfielder, but can they seal the deal before the window shuts?

1700: Poor Lewis Holtby just couldn’t catch a break at Tottenham and now he’ll have to wait another year at least. The midfielder is off to Hamburg on a season-long loan.

1720: Falcao has landed. Quite literally. His private jet has just touched down in Manchester. Can anything stop this deal now?