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Atletico Madrid want to re-sign Fernando Torres from Chelsea but only if the Spaniard is allowed to leave on a free transfer. The Spanish champions are reportedly £404 million in debt. Torres is currently on loan at Milan.
Emmanuel Adebayor has returned to Tottenham after being granted compassionate leave but the north Londoners are intent on loaning the Togolese striker out in January.
Everton are exploring the possibility of signing Hull City centre-back Curtis Davies. The 29-year-old only has 18 months left on his current deal and is considering his options after losing his place in the first team.
VfL Wolfsburg is interested in Maribor defender Petar Stojanovic. The German club ha already been in contact with the 19-year-old who's interested in a move to the Bundesliga.
Liverpool are to replace goalkeeper Simon Mignolet with John Ruddy. Norwich want £8m for their shot-stopper with Crystal Palace also interested.
Arsenal are plotting a double move and are willing to spend £50m on Marek Hamsik and Mattia Destro in the January transfer window with Joel Campbell and Lukas Podolski to be moved on.
Serie A giants Inter and Real Sociedad will go head-to-head to secure a loan deal for Adnan Januzaj in January. The 19-year-old has fallen down the pecking order under Louis van Gaal and could be reunited with David Moyes in Spain.
New York Red Bulls are preparing a lucrative package to lure Steven Gerrard to the MLS should he reject a new deal to stay at Liverpool. The club are hoping to take advantage of Gerrard's relationship with sporting director Gerard Houllier.
Manchester City are the latest club to show interest in signing Borussia Dortmund defender Mats Hummels. City have struggled at the back despite the arrival of Eliaquim Mangala and are ready to move for the £47m-rated German.
Manchester United are ready to launch a £90 million move for Real Madrid attacker Gareth Bale, with the Champions League holders considering using the money to fund moves for Chelsea's Eden Hazard and Liverpool's Raheem Sterling.