Bayern Munich are lining up a £40m bid for Liverpool striker Luis Suarez, 25.
Manchester City are set to battle it out with title rivals Manchester United for Stoke keeper Asmir Begovic, 25.
Manchester United are also keen on QPR's Brazilian goalkeeper Julio Cesar, but they could face competition from Arsenal for the 33-year-old's signature.
Manchester United striker Federico Macheda, 21, is on the verge of signing for Spanish second division side Elche on loan for the rest of the season.
Brazilian midfielder Philippe Coutinho, 21, has told Liverpool he wants to stay at Inter Milan.
However, Liverpool still hope to agree the transfer of Coutinho on Wednesday despite the midfielder's claim that he wants to fight for his place in Italy.
Sandro's season-ending injury has forced Tottenham into a January move for Schalke's Lewis Holtby, 22, who signed a pre-contract agreement to move to White Hart Lane in July.
Manchester City face competition from Hamburg in their pursuit of midfielder Omar Abdulrahman, 21, who plays for Al-Ain in the United Arab Emirates.
Mario Balotelli's agent says the Italy striker, 22, will not leave Manchester City in January.
CSKA Moscow are interested in signing Chelsea winger Marko Marin, 23, on a loan deal.
Sunderland face a battle to sign forward Mauro Zarate, 25, after his agent said the player is happy to stay and fight for his place at Lazio.
Wigan manager Roberto Martinez is investigating a loan move for former Celtic winger Aiden McGeady, 26.
Mohamed Diame, 25, is threatening to report West Ham to Fifa over fears the club are trying to renege on his £3.5m release clause.
Chelsea are going to hold talks with Belgium international keeper Thibaut Courtois over his long-term future at Stamford Bridge. The 20-year-old is currently on his second season-long loan at Atletico Madrid and has attracted interest from Barcelona.
New Southampton manager Mauricio Pochettino says he will bring in players from La Liga to ensure that his "ambitious project" has every chance of success.
Former Barcelona midfielder Joan Verdu, 29, could be Pochettino's first signing at St Mary's. Verdu played under Pochettino at Espanyol and is out of contract at the end of the season.
GLOBAL GOSSIP (sourced by BBC Monitoring)
Italian goalkeeper Gianluigi Buffon, 34, has extended his contract with Juventus until 2015.
Benfica have parted company with Brazilian midfielder Bruno Cesar, 24, who will move to Saudi Arabian club Al-Ahli, according to Brazilian news website Terra.
Dutch midfielder Wesley Sneijder, 28, has revealed that Jose Mourinho and Netherlands national coach Louis Van Gaal encouraged him to sign with Galatasaray.
Manchester United's plan to sign Wilfried Zaha from Crystal Palace and then immediately loan the 20-year-old back to the Championship club could face a Football League investigation.
Ronaldinho, 32, has been named in Brazil's 20-man squad for the friendly against England at Wembley on 6 February.
Interim Chelsea manager Rafael Benitez says owner Roman Abramovich is happy with the progress he is making at Stamford Bridge.
Tottenham announce a £4.3m loss for 2011-12 after failing to qualify for the Champions League.
Al Nasr technical director Sven-Goran Eriksson says the club would "open the gate" for David Beckham, 37, if he wants to play in the United Arab Emirates.
Brighton boss Gus Poyet says he would like to manage Arsenal or Chelsea.
BBC 5 live's 606 newsletter reports that Celtic manager Neil Lennon was in a playful mood in a recent press conference. He decided to answer one journalist's mobile phone, only to be hung up on twice.
Southampton winger Jason Puncheon, 26, has been teased by his team-mates after leaving the field against Everton on Monday to go to the toilet.