For a list of all the latest deals, check out the transfers page.
Former Everton midfielder Tim Cahill, 35, is mulling over a shock return to the English Premier League, while offers from China, the UAE and Qatar are also on the table.(Daily Telegraph)
Liverpool could sign Burnley striker Danny Ings, 22, today and send him back to Turf Moor for the remainder of the season in a US-style agreement which allows contract rights to be passed over at a future date. (The Mirror)
Sources close to Ings say he has not signed a pre-contract agreement with David Moyes' Real Sociedad and would prefer a move to Liverpool. (Liverpool Echo)
A deal taking 27-year-old Tottenham winger Aaron Lennon to Hull is off, alerting the likes of Everton, Swansea, Stoke and Sunderland. (Daily Mirror)
Liverpool are planning a late bid for Real Madrid midfielder Asier Illarramendi, 24, who is also a target for Arsenal and Manchester United. (Daily Express)
Tottenham defender Younes Kaboul, 29, is set to move across London and join West Ham in a £2.5m deal. (Independent)
Spurs have also been in negotiations to sell Kaboul to Italian side Roma.(The Mirror)
Manchester United are planning deadline-day moves for Wolfsburg's former Chelsea forward Kevin De Bruyne, 23, and Borussia Dortmund defender Mats Hummels, 26.(Daily Express)
Meanwhile, United boss Louis van Gaal has ended Everton's hopes of signing winger Adnan Januzaj, 19, in a deadline-day deal.(Manchester Evening News)
Dani Alves' agent has revealed three clubs have made offers for the right-back, 31, who is likely to leave Barcelona in the summer when his contract expires. Liverpool, Chelsea, Arsenal and Man United are all admirers.(Daily Express)
Arsenal will attempt to sign Southampton's France midfielder Morgan Schneiderlin, 25, in a £25m deal.(Daily Express)
Stoke City manager Mark Hughes is set to make a deadline-day bid to be reunited with Spurs striker Emmanuel Adebayor, 30, who played under him at Manchester City. (Daily Mirror)
Southampton are hoping to finalise a £5m deal for Feyenoord midfielder Tonny Vilhena, 20.(Daily Mail)
Qatari club Al Gharafa have made an improved bid of £5m plus add-ons for West Bromwich Albion striker Brown Ideye, 26.(Daily Mail)
Manchester City defender Micah Richards, 26, who is on loan at Fiorentina, is set to ignore interest from Chelsea and Liverpool and join Italian giants Inter Milan for a reunion with former City manager Roberto Mancini. (Daily Star)
West Ham defender Winston Reid, 26, is set to head to Spurs on a lucrative free transfer in the summer after turning down several contract offers at Upton Park.(Daily Mirror)
Crystal Palace are poised to agree a £1m deal for Bolton Wanderers winger Lee Chung-Yong, 26, who is due to get the all-clear to play after a broken leg. Palace boss Alan Pardew is also considering a deadline-day move for Middlesbrough's Lee Tomlin, 26.(Daily Mail)
Darren Fletcher could still leave Manchester United before the transfer deadline, with West Brom ready to resurrect their interest in the 31-year-old midfielder. (Manchester Evening News)
Manchester United are still hoping to sign Marquinhos, 20, from Paris St-Germain, despite the French champions turning down a £35m bid for the Brazilian defender on Sunday.(Sun - subscription required)
With Juan Cuadrado set to join Chelsea and other deals propping up the total, deadline-day spending could exceed £35million for the first time in three years.(The Mirror)
Defender Branislav Ivanovic says the siege mentality at Stamford Bridge is helping Chelsea win games. (Guardian)
Liverpool striker Daniel Sturridge, who returned to action on Saturday, has paid tribute to his team-mate Philippe Coutinho, who he says makes his job easier. (Liverpool Echo)
Real Madrid director Emilio Butragueno has defended Gareth Bale after the Welsh forward was booed by a section of the Bernabeu crowd during his side's 4-1 victory against David Moyes's Real Sociedad. (Telegraph)
Hull City manager Steve Bruce believes new assistant Mike Phelan is the "right man at the right time" and "should give everyone a lift". (Guardian)
Bruce does not fear for his job at the KC Stadium despite overseeing a run of 10 defeats in 14 Premier League matches. (Telegraph)
League One leaders Bristol City will seek compensation if West Ham are punished for playing Senegal striker Diafra Sakho in the FA Cup. (Sun - subscription required)
Newcastle head coach John Carver says he is not an "interim" manager and believes he has the backing of the players.(Daily Express)
Everton captain Phil Jagielka says the team can become "superstars" with a derby win over Liverpool on Saturday.(Liverpool Echo)
BEST OF SOCIAL MEDIA
Joey Barton sums up the day, tweeting: "Transfer deadline day = Christmas Eve for football fans..."
Meanwhile, QPR's Rio Ferdinand gives his prediction: "I love watching #transferdeadlineday unfold! A few stocking fillers will happen but no deal over £10m will be done today."
After his deadline-day loan move from Stoke to Leicester, defender Robert Huth tweeted:"Happy times at Stoke, thanks for everything. And moving on means I'll maybe fulfil my dream of marking Jon Walters one day."
Bafetimbi Gomis announced on Twitter that he has decided to stay at Swansea. "Even if I was sad before because I didn't play a lot, now everything is different and I believe in this team and this project," heposted."I am lucky to play and live in Swansea."
Arsenal's win over Aston Villa left forward Alexis Sanchez, who missed out with a hamstring injury, with mixed feelings.He tweeted:"Happy for the great win of the team, sad for not being at the field."
Sanchez's team-mate Hector Bellerin, who scored in injury time in the 5-0 win, was thrilled with his impact. "What a feeling to get my first goal for @Arsenal!"he wrote."Great team performance to make it the perfect day!"
A Twitter user bet £10,000 that a football team could not get their snow-covered pitch ready in time for a match - but the club and fans pulled together to prove him wrong. (Daily Mirror)