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Tottenham are concerned their potential deal for Morgan Schneiderlin will be gazumped by Arsenal. The Gunners are keen to sign a central midfielder while Spurs had a £10m bid rejected in the summer.
Arsenal are preparing a £26 million (€33m) offer for Barcelona and Spain forward Pedro.
Manchester United and Chelsea will both try to sign Paul Pogba from Juventus in the summer. The midfielder is also wanted by Arsenal and Manchester City and could cost up to €90 million (£70m).
Arsenal striker Yaya Sanogo will leave the club in January on loan with a trio of clubs interested. Aston Villa, Sunderland and Crystal Palace are all keen on a temporary deal for the 21-year-old.
Arsenal defender Hector Bellerin is being targeted by Bayer Leverkusen. The Bundesligsa side have been in contact with the Gunners over a possible move for the teenager.
Fiorentina are looking for an upgrade to their attack in January. Alberto Gilardino of Guangzhou Evergrande and Hugo Almeida of Cesena are the two names highest on their shortlist.
Manchester United could spend £30m in the January transfer window. Louis van Gaal's top targets remain Kevin Strootman and Ron Vlaar.