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Despite the interest of Newcastle in Argentina international, Nicolas Gaitan, Monaco boss Leonardo Jardim has identified the midfielder as a key target and the Ligue 1 club are poised to pounce in the next transfer window.
AC Milan scouts have been in Argentina watching talented River Plate midfielder Leonel Vangioni, according to transfer expert Gianluca Di Marzio. Milan reportedly saw Vangioni as the alternative to Pablo Armero in the summer transfer window.
According to German newspaper Bild, Roberto Di Matteo is keen on rekindling his working relationship with the 30-year-old striker, Fernando Torres, and will launch an offer in January.
Borussia Mönchengladbach are keen on signing Ajax Amsterdam attacker Lasse Schöne. The 28-year-old's contract runs out in 2015.
Manuel Pellegrini has instructed the Manchester City hierarchy to sign Arsenal flop Mesut Ozil as a replacement for Yaya Toure, who he expects to leave the club.
Manchester United have been given a boost in their pursuit of Fredy Guarin, after Inter Milan put the Colombian up for sale. The 28-year-old is seen as an alternative to Arturo Vidal.
According to reports Arsenal want to sack Arsene Wenger and replace him with current Real Madrid boss Carlo Ancelotti. The Gunners will hand the Italian sizeable funds to spend in the transfer market.
Manchester United have turned their attention to Real Madrid left-back Marcelo and hope to sign the Brazilian in January. Madrid are prepared to let Marcelo leave as they target a move for Bayern's David Alaba.