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Newcastle boss Alan Pardew has lined up Wigan midfielder James McCarthy, 22, to replace Yohan Cabaye should the 27-year-old France midfielder join Arsenal.
Aston Villa and Southampton are both considering bids to sign Porto and Senegal defender Abdoulaye Ba, 22, on loan.
Swansea City have reportedly tabled a £2.5m bid for Getafe striker Alvaro Vazquez, 22.
Manager David Moyes is considering a move for Porto defender Eliaquim Mangala, 22, as he looks to strengthen his Manchester United defence before next Monday's transfer deadline.
Meanwhile, after fighting off approaches from Chelsea for strlker Wayne Rooney, 27, Moyes is set to turn the tables with a £30m offer for versatile Brazilian David Luiz.
Crystal Palace have joined Everton in a battle to sign Queens Park Rangers midfielder Joey Barton, 30, and have been told he is available for a £3m fee.
Anzhi Makhachkala's Samuel Eto'o is set to turn down Inter Milan to secure a reunion with Chelsea boss Jose Mourinho, under whom the 32-year-old striker won the Champions League with the Italian giants in 2010.
Roma have held discussions over a possible loan switch involving two left-backs - Tottenham's Benoit Assou-Ekotto, 29, and Italy international Federico Balzaretti, 31.
West Ham are close to signing Honduras international striker Roger Rojas, 23, on loan from Club Deportivo Olimpia.
Manchester City have agreed a £4m deal in principle with Atletico Madrid to sign Argentina centre-back Martin Demichelis, 32.
Meanwhile, City will turn to Valencia's Adil Rami, 27, to solve their defensive problems if they are priced out of a move for Demichelis.
GLOBAL GOSSIP (Sourced by BBC Monitoring)
Galatasaray are in the race with Arsenal to sign Real Madrid midfielder Angel di Maria, 25. Turkish media report that the two clubs have already reached an agreement on the transfer fee.
Monaco are willing to pay around £17m for Sevilla midfielder Geoffrey Kondogbia, 20.
Roma are considering a move for Fiorentina's Serbian striker Adem Ljajic, 21, to replace Erik Lamela, 21, who is expected to move to Tottenham.
La Liga side Granada are in negotiations with Rennes defender Dimitri Foulquier, 20, with a view to signing him on loan.
Chelsea owner Roman Abramovich has decided to stop funding Russian football. Since the National Football Academy was set up in 2004, the Russian businessman has funded the construction of football infrastructure, programmes for children and paid the national team manager's wages.
Arsenal target Mesut Ozil, 24, may be closer to a Real Madrid exit after the attacking midfielder reacted badly to being substituted during the club's 1-0 La Liga win at Granada on Monday.
Germany international Ozil would be willing to swap La Liga for the Premier League, but only if the Gunners or Manchester United are prepared to meet his £200,000-a-week pay demands.
Newcastle striker Papiss Cisse, 28, whose future was thrown into doubt this summer over his refusal to wear a shirt bearing the name of the club's new sponsor, has hosted a barbecue for eight young supporters at his house.