Arsenal manager Arsene Wenger, 62, has been told he has at least £35m to spend in the January transfer window and could try to sign Atletico Madrid striker Falcao, 26.
Brazil forward Neymar, 20, says international team-mate and Chelsea midfielder Oscar has pleaded with him to join the Blues.
Manchester City plan to be busy in the new year, and will make another attempt to buy Fiorentina striker Stevan Jovetic, 22. The Montenegro international is valued at £25m, and is also being tracked by Juventus.
Serie A champions Juve also hope to bring in former Chelsea striker Didier Drogba, 34, on a three-year contract if he is released from Chinese side Shanghai Shenhua because of ongoing disputes within the club's hierarchy.
Sunderland would let striker Connor Wickham, 19, leave on loan. The England Under-21 international has yet to make a first team appearance this season.
QPR chief executive Philip Beard says midfielder Joey Barton can turn his loan spell at Marseille into a permanent deal.
Scotland striker James McFadden will this week sign a contract that will keep him at Sunderland until the summer.
Steve Kean, 45, resigned as manager at Blackburn Rovers - and walked away from a contract worth up to £14.9m - as a successful claim against the club for constructive dismissal would see him receive a much larger settlement figure than if he had been sacked by the Championship club.
QPR will not sack manager Mark Hughes even if the club are involved in a relegation battle for the rest of the season, says owner Tony Fernandes.
Newcastle United are hopeful an overhaul of their youth academy will see it belatedly clinch Category One status in the next few months and bring in a minimum annual funding of £775,000 under the Elite Player Performance Plan.
The north east club are also in advanced talks with consumer finance company Wonga to sponsor both their shirts and stadium in a deal believed to be worth £8m a year.
Chelsea left-back Ashley Cole has no interest in wearing the captain's armband when he wins his 100th cap for England, which he could earn against Poland on 16 October.
However, that honour might have to wait as the 31-year-old is to be left out of the World Cup qualifier against San Marino on Friday by manager Roy Hodgson, 65, and fined £240,000 by Chelsea after his expletive-laden tweet about the Football Association.
Cole is likely to be fined when the FA meets on Monday to discuss what punishment to level against the Blues defender.
Liverpool winger Stewart Downing, 28, has hit back at manager Brendan Rodgers for questioning his desire. Rodgers challenged Downing to show "fight" and "commitment to the cause", to which the England international said: "I was upset and you'll have to ask the manager what he meant with that quote. I always try my best."
Scotland coach Craig Levein believes his squad will welcome back Steven Fletcher, despite the Sunderland striker's previous snub of the international set-up, with open arms - because they all want to qualify for the World Cup finals in Brazil.
Vancouver Whitecaps have allowed striker Kenny Miller to return to Scotland to recover from a hamstring strain so he can be fit for Scotland's World Cup qualifying double header against Wales and Belgium.
Celtic manager Neil Lennon could be the next member of staff to land a pay rise after helping three of his players - Charlie Mulgrew, Adam Matthews and James Forrest - earn bumper new deals.
Sunderland manager Martin O'Neill moaned that the light, bright boots his players are wearing are to blame for injuries.
Winger Juan Mata, 24, has showed his talents are not limited to football by singing the Macarena to Chelsea fans at a Q&A session also featuring Spanish compatriots striker Fernando Torres, 28, midfielder Oriol Romeu, 21, and right-back Cesar Azpilicueta, 23.