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For a list of confirmed transfers, check out the transfers page.
Cardiff boss Ole Gunnar Solskjaer has entered the race to sign Cagliari and Italy defender Davide Astori, 27.
Fulham are on the verge of four signings, with Greek striker Kostas Mitroglou, 25, set to be joined by Tottenham's Lewis Holtby, 23, and two Manchester United youngsters.
West Ham are attempting to hijack Fulham's capture of Mitroglou in a move which would see Dimitar Berbatov remain at Craven Cottage.
Berbatov, however, has stationed himself in London as the 33-year-old hopes a return to Tottenham can be negotiated.
French side Nantes hope to secure the signing of out-of-favour Arsenal striker Park Chu-Young, 28, and Newcastle's 27-year-old midfielder Sylvain Marveaux.
Manchester United winger Wilfried Zaha, 21, looks to have completed his loan move to Cardiff City after he posted a photo of himself wearing the Welsh club's colours on social media.
Tottenham have joined Italian side Inter Milan in the chase to sign Manchester United winger Nani, 27, on loan.
Clement Grenier, the man Newcastle lined up to replace Yohan Cabaye, will remain at Lyon until the summer as the 23-year-old midfielder hopes to secure his World Cup place in the France squad.
Manchester United manager David Moyes is eyeing up a move for Spurs winger Andros Townsend, 22.
Liverpool are embroiled in a race against time to try to land Ukraine international midfielder Yevhen Konoplyanka, 24, amid interest from Spurs.
Arsenal's big-money move for Schalke striker Julian Draxler, 20, is set to collapse with Manchester City, Manchester United and Chelsea all set to join the hunt for the player at the end of the season if he stays in Germany.
Defender Joleon Lescott, 31, is set to stay at Manchester City and see out the remaining six months of his contract at Etihad Stadium despite interest from Besiktas, West Ham and Fulham.
The future of Leeds United is shrouded in uncertainty after a takeover of the club by a consortium collapsed due to a lack of financial backing.
Liverpool, meanwhile, hope to submit plans to redevelop Anfield before the end of the season and complete work on an expanded main stand before 2018.
Manchester United's 18-year-old winger Adnan Januzaj will pledge his international future to England despite being eligible to represent a number of countries, including Belgium.
Unsettled Norwich midfielder Wes Hoolahan, 31, has launched a foul-mouthed attack on the club, with his future at the club in the balance after he had a transfer request turned down.
Lazio midfielder Hernanes, 28, burst into tears in front of supporters as he left the club's training ground ahead of a proposed move to Inter Milan.
Liverpool and Tottenham target Yevhen Konoplyanka is dismissed as a "headless chicken" by one of Ukraine's all-time greats, Oleg Luzhny.