Manchester City will open the bidding at £40m as they make an audacious move to sign Liverpool striker Luis Suarez, 25, in January. City are ready to offload striker Mario Balotelli to make room for the Premier League's leading scorer.
Balotelli, though, will stay at Manchester City despite interest from AC Milan, says the 22-year-old's national coach Cesare Prandelli.
Dutch striker Klaas-Jan Huntelaar is deciding whether to join a Premier League club. The £7m-rated Schalke forward, 29, has been attracting interest from Arsenal, Chelsea and Liverpool.
Liverpool are plotting a £5m move for Blackpool's attacking midfielder Thomas Ince, a little more than a year after they let the 20-year-old academy product leave Anfield on a free transfer.
Real Madrid boss Jose Mourinho is said to be setting his sights on Manchester United striker Javier Hernandez, 24, and is ready to offer long-term Old Trafford target - 24-year-old forward Karim Benzema - in a swap deal.
Liverpool goalkeeper Pepe Reina, 30, is wanted by Arsenal boss Arsene Wenger in the January transfer window.
Atletico Madrid striker Radmael Falcao has hinted he could be ready for a switch to the Premier League and Manchester City and Chelsea are ready to make offers for the £45m-rated 26-year-old Colombian.
Everton midfielder Marouane Fellaini has told Chelsea he is no hurry to join them. The London club are planning a £30m move for the 25-year-old Belgian in January's transfer window but he said: "I want to play for one of the biggest clubs one day. But I am patient."
Midfielder Joey Barton, 30, wants to stay at French club Marseille beyond his season-long loan from QPR.
Norwich manager Chris Hughton has put a striker top of his January shopping list after scoring just eight goals in the Premier League so far this season. Arsenal's Marouane Chamakh, 28, and West Ham's Carlton Cole, 29, are among his early targets.
England captain Steven Gerrard has rejected the advice of Sweden striker Zlatan Ibrahimovic and insists he has no intention of quitting Liverpool to join a 'bigger' club.
Chelsea midfielder Frank Lampard has been told he has no future at the club. The 34-year-old is out of contract at the end of the season and Lampard is set to snub a move to China in favour of joining Major League Soccer side Los Angeles Galaxy.
The takeover of Birmingham City by Gianni Paladini's Italian consortium is moving closer - with the former QPR chairman hopeful a deal can be struck within 10 days.
Tottenham goalkeeper Hugo Lloris, 25, will have talks with manager Andre Villas-Boas as France's number one seeks assurances over his future.
Wigan chairman Dave Whelan believes manager Roberto Martinez is destined for the top of European football.
Former Manchester United forward Eric Cantona says he wants to follow in Sir Alex Ferguson's footsteps and manage the Old Trafford club.