Fifteen games unbeaten, in the top 8 of the Premier League and into the 5th round of the most famous Cup competition in the world. The future looks bright for the Blues but this month is all about the green and the transfer funds burning a hole in the pocket of Blues manager Alex McLeish.

Since its invention in 2003, fans have looked upon the January transfer window with more than a hint of contempt. It's a time for agents, desperate clubs, rumours that never go away and transfers that come out of the blue. Kaka to Man City (or not), Ashley Cole's defection to Chelsea, the arrival to the league of Arshavin, Adebayor and Vidic.

However, in amongst the successes and the shocks, Blues fans have had a rollercoaster ride, to say the very least. The arrivals of Christophe Dugarry, Magic Mauro Zarate and James McFadden were big signings, but this month of madness also saw the arrival of Sutton, DJ Campbell and Carlos Costly, to name but a few. The January window has also seen its fair share of outgoings with the acrimonious departures of Robbie Savage and Matthew Upson which still wrangle with the Birmingham faithful.

This season has given us one of the quietest windows to date, but while questions are continually posed as to whether the transfer window holds any advantages, Blues fans are starting to warm to the idea. The new owners promised Alex McLeish $40 million to spend, and if you believe all that you read, McLeish has tried his all to spend every last penny of Yeung's money...

Two men are definitely through the door, so let's start with the first signing of the Carson Yeung regime. Miguel Marcos Madera...or Michel, to you and I. The 24 year-old midfielder was finally snared by McLeish, after chasing the attacking midfielder for more than a year. While the young Spaniard has all the technical ability that you would expect from a Spaniard, his 6 foot frame suggests that he should be able to cope with the physical demands of the Premier League. Michel played 138 times for his former club Sporting Gijon, scoring 7 times, with McLeish professing that Michel could well be the next Barry Ferguson.

While Michel is the new Ferguson, the Blues boss has not had to look far for a replacement for Lee Bowyer. The midfielder is enjoying a purple patch in his career, but McLeish has looked to secure a replacement for when the midfielder calls it a day. Blues and Villa spent time haggling over a fee but eventually Craig Gardner made the move across the divide. The Brummie utility man was eager to make the move (to go up in the world, perhaps?), and he is a young player with talent to boot. However, he has seen his progress hampered by Martin O'Neill's strange policy of signing midfielders...and lots of them. Petrov, Sidwell, Milner, Reo-Coker and Fabian Delph all jumped ahead of Gardner in the queue and so when McLeish came calling, the England Under-21 International made it clear that he wanted to leave.

Those two deals amount to about £6 million, but with a budged of £40 million, some have questioned as to where are the big money signings? Personally, I think McLeish is spot on. Rome wasn't built in a day, and even the greatest teams started with slow progression. McLeish has the foundations of a good side and he is now looking to buy quality players to supplement those already in the side.

However, the position that holds the most worries for McLeish is up front. McLeish has searched long and hard for a striker, but his search began at the home of the Premier League's crisis club, Liverpool. It all started with a bang. Blues were rumoured to have approached Liverpool with a bid that many Liverpool fans would take and run. Rumours of an £8 million pound bid ensued for a striker who has failed to live up to expectations at Anfield. This is the point where stories start to become muddled. Some say that Babel rejected Blues, and some say that Liverpool rejected the bid. The truth is unclear, with Rafa saying that Babel wanted to stay while his agent insisted that he was "considering" a move to Blues. Whether this transfer happens or not, McLeish has set his stall out by expressing his firm belief that players at top clubs would consider a move to Blues. It's a major step forward for a club who were only promoted to the Premier League last season. Personally, I'm not too sure about Babel. I believe that his best form could be coaxed out of the striker, but at the same time, I feel that he is something of a liberty to have in your side. He is similar to McFadden, with skill in abundance but a lack of effort when push comes to shove. If you get in-amongst the tall hitman, he often shirks from the challenge and can go missing from games for large periods of time. Babel? Not for me, but then again, this is just one name in an ocean of possibilities.

Then came the return of a familiar story linking Rangers hitman Kris Boyd with a move to the Midlands. Where exactly, has been a hotly disputed topic, but with both Blues and Villa supposedly in the hunt, many media outlets have suggested that a pre-contract agreement, allowing Boyd to join the club in the Summer, was the favoured outlet of both clubs. As we all know, McLeish is a known admirer of Boyd, and the striker, who is the record goalscorer in the SPL, seems set to finally end his time in Scotland during the next few months. The merits of Boyd have been discussed by Blues fans for many months, so I won't delve deeply into the playing style of the Scot, but one thing is for sure; Kris Boyd can score goals.

Possibly the most adventurous name linked with the club, and the striker whose welcome would be unanimously welcomed by all corners of St Andrews, is the story that emerged about Kenwyne Jones making the move down south. The striker is the complete package and stories about him moving to Blues for £11 million pounds came out of the blue. However, as quickly as the stories appeared on the scene, Sunderland manager Steve Bruce immediately came out and blasted the stories as ridiculous, claiming that the striker was worth "£40 million on his day". So, was that Bruce saying that he wasn't for sale, or was it the start of negotiations? Our ex-manager also blasted Stoke, claiming that neither Blues nor Stoke possessed the funds required to acquire the striker. Stoke hit back, declaring that Bruce should keep himself to himself, but there was a slightly more dignified response from Blues who chose to ignore the matter, as stories surrounding Jones started to disappear from our newspapers. McLeish later came out suggesting that Blues could not afford to support the likes of Jones and Babel in the current wage structure. Not that Bruce was right; McLeish meant that it would not be viable to introduce a player on astronomical wages into a close, tight-knit dressing room, and the Scot was absolutely spot on.

The one other hot story emerging this month has been the possible transfer of Aiden McGeady from Celtic. McGeady is a tremendously gifted player, and at the ripe old age of 23, he has an exciting future ahead of him. The man dubbed as the Irish Ronaldo made his debut in 2004 as an 18 year old, and since then he has shot to fame, playing more than 150 times for his club, scoring 29 goals. After scoring 17 minutes into his debut, it was clear that this boy had talent, and he proceeded to move onwards and upwards, earning the titles of SPFA Player of the Year and Young Player of the Year in April 2008. Some magic performances in the Champions League made him famous around the continent, with many top sides around Europe looking at the attacking midfielder. AC Milan were rumoured to have shown an interest, while Barcelona, Arsenal and Manchester United have all kept tabs on the Irishman. Blues were said to have bid £8 million which was deemed wholly unacceptable by the Glasgow club, but I, like many Bluenoses, sincerely hopes that the club returns with a higher bid. Celtic will believe that they can get at least £15 million for the player, but if Blues can sign him then it will be a major coup for the club. Sure, McGeady isn't an out and out striker, but if Blues could get him on board, then he would no doubt become a tremendous option for McLeish to have. Signing McGeady could even release James McFadden to ply his trade as an out and out striker, alongside either Jerome or Chucho.

Recently, the only firm line coming out of the club has been regarding a possible move for Roman Pavlyuchenko, who scored a delightful goal for Spurs in their 2-2 draw with Leeds in the FA Cup 4th round tie. Blues would probably favour a loan deal, but with Spurs looking for £10 million, and the striker on very good wages, a deal seems a distant possibility at present. McLeish stressed that he does not want to break his wage structure, and so if that is definitely the case, I wouldn't expect to see Pavlyuchenko on the back of a Blues shirt in the near future...

Alex McLeish has tried to throw Marcus Bent and Gary McSheffrey at anyone who will have them, but so far even Middelsbrough have sent the striker back to the club after only 3 starts. McLeish seems set to finally refurbish his squad, with Martin Taylor on his way to Leicester.

It's been a dull month for many, but for Blues fans, promises of a bright and glorious future are matched only by performances on the pitch which continue to thrill and excite fans. Fifteen games unbeaten, and the club is riding the crest of a wave which keeps on getting bigger and bigger. Whoever comes through the revolving door at St Andrews will be undoubtedly the choice of the manager, and so Blues fans need not worry. McLeish knows exactly what this club needs, and he knows the type of player that fans want to see. Strong, determined, passionate players who want to play for Birmingham City FC.

In Alex we trust.