It looks as though Blackburn Rovers are set to be left disappointed in their January transfer window pursuit of Ryan Porteous.

Speaking earlier in the window, Rovers head coach Jon Dahl Tomasson had confirmed that the Championship side had made a bid to sign the Hibernian centre back on a permanent deal.

Had it come off, it would have seen the Ewood Park club complete a similar deal to 12 months ago, when they signed Ryan Hedges from another Scottish Premiership side, Aberdeen, as he entered the final months of his contract.

Ultimately though, reports have now suggested that it is Rovers' Championship rivals Watford, who are set to win the race for Porteous this time around.

Given they will know from the impact that Hedges has made since he arrived at Ewood Park about how useful a signing that could have been, missing out on Porteous will undoubtedly be frustrating for Blackburn.

However, that is not something they can afford to sit back and reflect on for too long, given it does now present them with another opportunity.

With Porteous going to Watford, that of course means that the money Rovers themselves had offered to Hibs for the 23-year-old's signature, is still available for them to spend.

Considering they have so far made just one signing this month - winger Sorba Thomas on loan from Championship rivals Huddersfield Town - that is something they surely have to do, with Tomasson's squad still looking short on depth in certain areas.

Those funds that are therefore still available from the seemingly unsuccessful bid for Porteous, can therefore still be put to good use, in ensuring Rovers have a squad that is as well equipped as possible for their push for promotion in the second half of this season.

Beyond that, the fact those funds could open the door for permanent signings may also be important for the long term prospects at the club.

Senior players such as top scorer Ben Brereton-Diaz - who is reported to have signed a pre-contract agreement with Villarreal - and Daniel Ayala, are out of contract at the end of this season.

Meanwhile, loan players such as Liverpool's Tyler Morton - another regular in the side during the current campaign - Clinton Mola of Stuttgart, and indeed Thomas himself will all be returning to their parent clubs at the end of this season.

As a result, there will be plenty of voids left in the squad come the end of the campaign that will have to be filled, and moving now to bring in a permanent signing with the funds left over from the bid for Porteous, would give them a head-start in that, just as the recruitment of Hedges did last year.

Indeed, speaking after the signing of Thomas, the club's Director of Football Gregg Broughton, identified the January window as an opportunity to bring in long term options in the form of players coming to the end of their contracts with other clubs.

Those comments, along with the knowledge there is money to spend from that bid for Porteous, means you feel there may be an expectation on Rovers to make another of those moves that does come off.

But with little more than five days to go until the window closes, that is a scenario that Blackburn are going to have to act on, sooner rather than later.