The Premier League have held discussions with the Football Association and FIFA about an extension to the transfer window for clubs to complete medicals and agree personal terms.
With snowy conditions making travel difficult for face-to-face meetings, there is the possibility of clubs filing their agreements before completing the formalities of their deals at a later date.
The league are still asking clubs to work to the 5pm deadline, and if deals are carried over, they would be judged on a case-by-case basis.
"We are exploring with the FA and Fifa whether an extension can be given in terms of medicals and personal terms," said a Premier League spokesman.
Premier League general secretary Mike Foster added on Sky Sports News: "It's already having an effect in terms of players getting from one end of the country to another. We're currently trying to gauge the level of activity.
"It would be nice to just extend the deadline but we cannot make the decision alone - we have to talk to the FA, who have to liaise with Fifa."
Andrei Arshavin braved the weather and made a last-ditch trip to London ahead of a proposed move to Arsenal - but a transfer from Zenit St Petersburg has been declared over.
The 27-year-old Russia playmaker, who caught the eye in last summer's European Championship, was in place to undergo the formalities of the transfer if the two clubs made an agreement on the fee for the player.
After being pictured in Hertfordshire, key figures in the deal said that Arshavin had left for an airport and the move was off, meaning only a late move from Arsenal would resurrect the transfer.
Arshavin's move was one of the high-profile deals being negotiated on a transfer-deadline day that has been complicated by snowy conditions.
Tottenham have been in talks with Liverpool over Robbie Keane's return to White Hart Lane after an unhappy six months at Anfield.
The Republic of Ireland striker moved from Spurs in the summer for £20.3million but is in the frame for a move back.
Spurs have also been linked with Inter Milan winger Ricardo Quaresma, after the Portugal international was left out of their updated Champions League squad. Inter manager Jose Mourinho is also a known admirer of Jermaine Jenas, raising the possibility of a swap deal.
Another big name that was lined up to move was Manchester City's Jo, with Everton ready to take the Brazilian striker on loan to Goodison Park.
Newcastle midfielder Charles N'Zogbia was poised to join Wigan, while Portsmouth have been linked with Spurs youngster Giovani dos Santos after signing Theofanis Gekas on loan from Bayer Leverkusen.
Greece striker Gekas said: "I believe I can do it, it is one of the toughest leagues in the world but I've scored goals in Germany and hope to do so in England."
Veteran Roma defender Christian Panucci looked set to remain in Italy until the end of the season, according to his agent.
The 35-year-old announced last week his wish to leave Roma after failing to earn regular football, and was linked with Hull and City.
"Christian will remain at Roma and will respect his contract," said Panucci's agent Oscar Damiani.
"We haven't been able to reach an agreement, the offers we received were not considered good enough by the player."
In the Coca-Cola Championship, Norwich signed Rangers forward Alan Gow on loan until the end of the season.Reuse content