Real Madrid midfielder Luka Modric could be ready for a move back to the Premier League. Chelsea, Manchester United and Manchester City are interested in the 27-year-old, who has failed to impress at Real since joining in August from Tottenham for £33m.
Frank Lampard, 34, is set to extend his stay at Chelsea, with club owner Roman Abramovich ready to perform a U-turn and re-open contract talks with the midfielder.
Real Madrid will make a move for Manchester City striker Sergio Aguero if the break-up of his marriage to Diego Maradona's daughter Giannina leaves him feeling isolated in England.
Manchester City, meanwhile, have taken their first step towards getting rid of controversial striker Mario Balotelli by making a £45m bid for Napoli striker Edinson Cavani, 25.
Tottenham will open negotiations this week for the £10m signing of Crystal Palace winger Wilfried Zaha, 20.
Arsenal manager Arsene Wenger is preparing an £8m bid for Wigan midfielder James McCarthy, 22.
However, Emmanuel Adebayor's Spurs future is in serious doubt and it is understood the club would consider offers for the 28-year-old Togo striker.
Stoke manager Tony Pulis has rejected reports that Michael Owen is to leave the club and head to Australia. Perth Glory claimed on Saturday they had been approached by the 33-year-old former England striker's agent about a move.
Manchester United are tracking Borussia Dortmund midfielder Sven Bender. The 23-year-old helped his side win last season's Bundesliga but has struggled with injuries this term.
QPR boss Harry Redknapp is in talks with six players, including midfielder Tim Cahill and strikers Robbie Keane and Nicolas Anelka, as he attempts to save the club from relegation.
Liverpool are refusing to budge on their valuation of former winger Tom Ince. The Reds have offered £4m but Blackpool want £6m for the 20-year-old.
Swansea defender Garry Monk, 33, will hold talks with manager Michael Laudrup before deciding if his future lies away from the Liberty Stadium.
Aston Villa face a £17m bill if they are relegated from the Premier League as six of their big earners do not have relegation clauses in their contracts.
Real Madrid star Cristiano Ronaldo has paid tribute to his own amazing form in 2012 by having all of his record-breaking stats stitched on to his boots.