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Chelsea are preparing to launch a £21 million bid for West Ham forward Enner Valencia.
Andre Schurrle is set to undergo a medical with Wolfsburg on Friday but the Bundesliga club have yet to agree a fee with Chelsea.
Juan Cuadrado is set to complete a £26.8 million move to Chelsea, with Andre Schurrle poised to join Wolfsburg for around £30m.
Manchester United will increase their efforts to sign either Borussia Dortmund’s or Athletic Bilbao’s Aymeric Laporte before the end of the January transfer window.
Manchester United are confident of securing up a £15 million summer deal for Southampton right-back Nathaniel Clyne.
Manchester United have taken Stevenage Borough’s 18-year-old centre-back Ryan Johnson on trial at Carrington.
Monaco striker Dimitar Berbatov has been offered to Crystal Palace, Everton and Hull. QPR have already rejected a move for the 33-year-old, who is looking for £70,000 a week.
Real Madrid are monitoring Tottenham striker Harry Kane. The 21-year-old has scored 18 goals in 31 appearances for Spurs this season.
Chelsea are keeping tabs on Real Betis winger Dani Ceballos. The 18-year-old, who is also being tracked by Atletico Madrid, has a £5 million buy-out clause.
Manchester United are ready to pay David De Gea £140,000 a week, making him the highest paid in the goalkeeper in the Premier League, in order to keep him away from Real Madrid.