Chelsea are renewing their efforts to sign Atletico Madrid striker Radamel Falcao, 26, after deciding to sell Daniel Sturridge, 23, to Liverpool.
However, Sturridge's £12m move to Anfield could be in jeopardy following a dispute between Chelsea and the player's advisors over agents' fees.
Schalke striker Klaas-Jan Huntelaar, 29, is set to sign a new contract and remain at the German club, despite interest in the Dutchman from Liverpool and Arsenal.
Anderlecht's 26-year-old Argentine midfielder Lucas Biglia, a target for Liverpool, has been told he can leave the Belgian club if they receive an offer of at least £8.35m.
England striker Andy Carroll, 23, wants to return to Newcastle after being told his Liverpool career is over. The Reds' £35m record signing is on a season-long loan at West Ham but has been told by manager Brendan Rodgers that he can leave in the summer.
Aston Villa are looking to sign Manchester City striker John Guidetti, 20, on loan for the rest of the season but face competition for the Swede from Sunderland.
Villa are also lining up a £1m move for Crystal Palace striker Glenn Murray, 29. With 20 goals this season, Murray is the Championship's top scorer and his former Eagles manager Dougie Freedman, now Bolton boss, is keen to take him even further north.
Adel Taarabt has pledged his future to QPR - despite interest from Barcelona and Russia's Anzhi Makhachkala. The 23-year-old Moroccan midfielder also insisted he plans to defy boss Harry Redknapp by going to the Africa Cup of Nations.
Wigan boss Roberto Martinez is in talks with Manchester United about signing the Old Trafford club's Chilean striker Angelo Henriquez, 18, on loan.
West Ham, Wigan and QPR are all competing to sign Salomon Kalou in January. The 27-year-old Ivory Coast striker left Chelsea in the summer for French side Lille but has been told he can leave next month.
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West Brom have told Millwall and Brighton they want £1.5m for 21-year-old New Zealand striker Chris Wood.
Marseille striker Loic Remy, 25, has welcomed reported interest from Newcastle United, who are said to be considering a £10m move.
GLOBAL GOSSIP (sourced by BBC monitoring)
Brazilian striker Nene, 31, wants to be released from his contract with Paris St Germain to "follow a new career path".
Juventus are interested in signing Corinthians striker Paolo Guerrero, 28, who scored the goal which beat Chelsea's in the Club World Cup final last weekend.
AC Milan are keen to sign Momo Sissoko from Juventus. The former Liverpool midfielder, 27, is reportedly unhappy at being left out of Juve's starting line-up in the last three games.
Spurs boss Andre Villas-Boas has had a lengthy meeting with his defenders over putting a stop to the number of late goals Tottenham have conceded this season.
Manchester City's Samir Nasri, 25, is struggling to be fit for any part of City's Christmas and New Year programme after the extent of the Frenchman's groin injury was diagnosed.
Sir Alex Ferguson told Harvard Business School that he had tanning booths installed at Manchester United's training ground to compensate for the lack of sun in Manchester.
Lionel Messi has finished third in a poll of Argentine journalists to name their country's best athlete. The Barcelona goal machine lost out to boxer Sergio Martinez and taekwondo fighter Sebastian Crismanich. Martinez beat Mexico's Julio Cesar Chavez Jr to win the WBC middleweight title while Crismanich won Argentina's solitary gold medal at the London 2012 Olympics.
Reading manager Brian McDermott almost missed watching his reserves play a behind-closed-doors friendly at Bournemouth when a steward failed to recognise him and refused to let him in. McDermott was eventually granted access in time to see his side win 3-0.