Tuesday's gossip column
For a list of confirmed transfers, check out the transfers page.
Manchester United manager David Moyes is considering a £20m move for Luke Shaw in the January transfer window even though Southampton have indicated they will resist all offers for the 18-year-old left-back.
Everton defender Leighton Baines is still on Moyes' radar and United will make a £16m bid for the 29-year-old left-back when the transfer window opens.
Arsenal and Chelsea will face competition from Borussia Dortmund for the signature of Atletico Madrid striker Diego Costa, 25, who is available for £35m.
Barcelona winger Cristian Tello, 22, is on the verge of joining Liverpool on loan for the remainder of the season after opportunities became limited at the Nou Camp.
Manchester United and Chelsea look set to lose out on 25-year-old Croatian international Ivan Rakitic now that Paris St-Germain have entered the market for the Sevilla midfielder.
Aston Villa manager Paul Lambert wants to add more experienced players to his squad in January.
Manchester City and Chelsea have been told by Villarreal that centre-back Mateo Musacchio, 23, will not be allowed to leave the club for less than £45m.
West Ham are weighing up the possibility of selling midfielder Ravel Morrison back to Manchester United.
Fulham are also interested in the 20-year-old, with head coach Rene Meulensteen hopeful of agreeing a deal for £6m.
Arsenal have not completely given up hope of signing Spain youth international striker Alvaro Morata, 21, next month, despite Real Madrid insisting that there will be no mid-season departures either on loan or permanently.
Crystal Palace manager Tony Pulis plans to raid former club Stoke to sign striker Peter Crouch and winger Matthew Etherington - both 32 - when the transfer window opens.
Derby hope to sign Chelsea youngster Patrick Bamford on loan. The 20-year-old striker has scored 16 goals in 28 matches this season during a temporary spell at League One club MK Dons.
Striker Alfred Finnbogason appears to have ruled out a January move to Celtic by insisting he will stay with Heerenveen until the end of the season.
Queens Park Rangers have made a £150,000 bid for Livingston defender Coll Donaldson.
Belgium striker Romelu Lukaku, 20, believes he can finish ahead of parent club Chelsea and win the Premier League title while on loan at Everton.
Manchester City boss Manuel Pellegrini says the club have no plans to enter the transfer market in January despite injuries to defenders.
Liverpool manager Brendan Rodgers has revealed striker Daniel Sturridge, 24, is well ahead of schedule on his return from the ankle injury that has kept him out of action since the end of November.
Southampton are hopeful that striker Dani Osvaldo, 27, will be fit to face Chelsea after being ruled out for the last fortnight through illness and injury.
Real Madrid forward Cristiano Ronaldo, 28, has been enjoying the winter break in Spanish football by paying a visit to an aquarium with his son, also called Cristiano.