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Karim Benzema could be the substitute for Edinson Cavani, who is not happy with his role at Paris Saint-Germain. Real Madrid's striker would be priority for the Parisians.
Eden Hazard is on the brink of signing a new £200,000 per week five year contract at Chelsea.
Ronald Koeman wants to bring fellow countryman Wesley Sneijder to St Marys as he looks to provide his ailing squad a much-needed boost. The Galatasaray playmaker takes home £50,000 net per week and should be available in January.
Nigel de Jong's contract at AC Milan extend in summer 2015. So the transfer fee for the 30-year-old Netherlands international will not be that high in January. Schalke 04 is interested in signing him.
Tottenham are contemplating selling both Emmanuel Adebayor and Roberto Soldado to fund a move for Jackson Martinez. The Colombia and Porto forward has long been a target of the north London club but is rated at near £40 million.
Liverpool's hunt for a new goalkeeper continues and Brendan Rodgers will test Chelsea's resolve by asking to loan Petr Cech in January. The Blues legend has fallen behind Thibaut Courtois and could be keen on a temporary switch.
Crystal Palace are hoping to sign Ashley Cole on loan this January following a disappointing spell at new club Roma. Cole joined the Serie A side in the summer but has underwhelmed leading the Eagles to take a punt on the left-back.
Both Manchester clubs are targeting a £20 million move for Barcelona midfieler Ivan Rakitic in January. The 26-year-old has found himself behind Xavi more than he'd have liked and it is thought he may want to leave the club.
Real Madrid are preparing to launch a bid for Manchester United goalkeeper David de Gea. The fee is expected to eclipse the £33 million Juventus paid Parma for Gianluigi Buffon.
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.