For a list of confirmed transfers, check out the transfers page.
Chelsea are interested in signing Serbia winger Lazar Markovic, 19, and midfielder Nemanja Matic, 25, from Benfica. Matic joined the Portuguese club in 2011 as part of 26-year-old defender David Luiz's move to Stamford Bridge.
Everton manager Roberto Martinez says midfielder Ross Barkley, 20, is not for sale even if a club bid a world-record £86m.
Cruzeiro midfielder Everton Ribeiro, 24, will turn down Real Madrid to join Manchester United.
Real Madrid forward Angel Di Maria, 25, has denied he has asked to leave the Spanish club. The Argentina international is a reported target for Arsenal and Tottenham.
Liverpool are keeping an eye on 25-year-old Croatia and Sevilla midfielder Ivan Rakitic, who has a buy-out clause of £33m but could be available for £7m.
West Ham will try to solve their goalscoring problems by making a move to sign Ghana striker Asamoah Gyan, 28, on loan for six months from United Arab Emirates side Al Ain.
Sunderland manager Gus Poyet, whose side are bottom of the Premier League, will go back to former club Brighton in an attempt to sign 24-year-old midfielder Liam Bridcutt for £2m.
Liverpool manager Brendan Rodgers believes Reds midfielder Raheem Sterling, 19, can force his way into England's 2014 World Cup squad.
Manchester United's Michael Carrick, 32, could return from an Achilles problem against Hull on Boxing Day with fellow midfielder Marouane Fellaini, 26, out following wrist surgery.
West Brom's search for a new manager has reached the short-listing stage with former Real Betis boss Pepe Mel, 50, linked with the job. Steve Clarke left The Hawthorns on 14 December.
Aston Villa striker Christian Benteke, who has been struggling with knee and hip injuries, has returned to Belgium to for treatment and the 23-year-old could miss his side's games against Crystal Palace and Swansea over Christmas.
Liverpool striker Luis Suarez, 26, was nutmegged by a young interviewer after a revealing chat about his tea-drinking habits, his dream of winning the Premier League and how he cannot understand his daughter's Scouse accent.