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Arsenal and Tottenham are both lining up bids for Manchester United forward Danny Welbeck. The English frontman has been told he can leave Old Trafford and the north London rivals are ready to go head-to-head to sign the £15 million striker.
Barcelona have made a shock attempt to sign Real Madrid's wantaway attacker Angel Di Maria. The Catalans were considering an official £48m bid but initial, tentative talks were rejected out of hand by Los Blancos, who won't sell to their rivals.
Arsenal are hoping to tempt Paris Saint-Germain into selling Edinson Cavani by offering £32 million plus Olivier Giroud for the Uruguay striker. Arsene Wenger is eager to recruit the forward while PSG could be forced to cut their wage bill.
Manchester United have had an official bid for Benfica's Nicolas Gaitan rejected. Although the offer exceeded the amount Atletico Madrid and Monaco were prepared to pay, it was nevertheless short of the Portuguese side's £36m valuation.
Arsenal are weighing up a move for Sporting's William Carvalho but fear time is running out to tie up a deal complicated by third-party ownership issues. Sami Khedira could yet move to the Emirates, but must lower his wage demands first.
AC Milan are preparing an offer for Tottenham striker Roberto Soldado as they brace themself for life without Liverpool-bound Mario Balotelli. Spurs will allow the Spaniard to leave and are ready to replace him with QPR's Loic Remy.
Manchester United and Zenit St Petrsburg are ready to battle for Inter midfielder Fredy Guarin. Red Devils boss Louis van Gaal is keen to strengthen his midfield before the end of the window, though Andre Villas-Boas also wants the Colombian.
PSG have pulled out of the race to sign Angel Di Maria from Real Madrid, leaving Manchester United as clear favourites to sign the Argentina international.
AC Milan want Manchester United striker Javier Hernandez to replace Mario Balotelli who is set to join Liverpool. The Mexican is also wanted by Inter and Juventus but is on the top of Milan's wanted list.
Anderson is set to leave Manchester United for Sporting Lisbon in a £5.5m deal. The Portuguese side have already signed Nani on loan and are keen to add the Brazilian.