Arsenal are thought to be one of four Premier League clubs who sent scouts to watch Racing Santander midfielder Sergio Canales. Everton, Aston Villa and Tottenham also watched the 18 year-old, while Real Madrid, Inter Milan, Bayern Munich and Monaco are among the other clubs interested.
Arsenal have been linked with a £7m move for Fulham's England under-21 defender Chris Smalling and are also looking at Lyon midfielder Maxime Gonalons, regarded as one of the best young players in France. Croatian Mario Mandzukic is the latest potential solution to Arsene Wenger's striker crisis. The 23 year-old scored against England at Wembley last year.
Sol Campbell has completed a shock return to Arsenal and has signed a contract until the end of the season. Campbell's arrival will hasten the departure of Philippe Senderos, who has reiterated his desire to leave the club and could join Celtic.
Newcastle could try and sign Jack Wilshere on loan, but Steve McLaren's FC Twente are also believed to be interested.
Bolivian midfielder Samuel Galindo has signed for Arsenal, according to reports, but the highly-rated 17 year-old will be loaned out to a Spanish club first as he is unlikely to be granted a work permit.
Reports suggest Arsenal are preparing a bid for Louis Saha, whose future at Everton is in doubt over the striker's extravagant contract demands.
Birmingham say they are "pretty close" to signing Craig Gardner on a £3.5m deal and Martin O'Neill has accepted that the midfielder will leave the club. Nigel Reo-Coker could also be on the way out, with Bolton, Blackburn, Hull and Wigan all reportedly interested in a £5m deal.
Villa are tracking Spanish midfielder Sergio Canales. The highly-rated 18 year-old plays for Racing Santander and is also being watched by Arsenal, Everton and Tottenham, as well as a number of Europe's top clubs.
Villa are reportedly tracing Sporting Gijon left-back Roberto Canella, although Wigan are set to put in a bid for the 21 year-old. John Carew continues to be the subject of transfer speculation, although O'Neill has denied that he is willing to let the Norwegian go to Tottenham in exchange for Robbie Keane.
Emile Heskey could also depart as he searches for regular first-team football ahead of the World Cup, but Martin O'Neill has said he is not looking to sell out-of-favour left-back Nicky Shorey.
O'Neill is rumoured to be interested in bringing Jermaine Pennant back to the Premier League, while a £12m move for Kenwyne Jones is another possibility. Graham Dorrans, another transfer target, will be staying at West Brom after he signed a new deal.
Birmingham say they are "pretty close" to signing Aston Villa's Craig Gardner after agreeing a £3.5m fee. Alex McLeish has also reportedly made an offer for Standard Liege striker Milan Jovanovic, who is wanted by Liverpool, while the club is reportedly preparing a third bid for Liverpool's Ryan Babel.
The club have reportedly offered Celtic £14m for winger Aiden McGeady as new owner Carson Yeung flexes his transfer muscles. Sporting Gijon midfielder Michel has already arrived for £3m.
Also on the radar are Kenwyne Jones, Tottenham's Roman Pavlyuchenko and 6ft 5in Austrian striker Marc Janko, who is available from Red Bull Salzburg for £6.5m. The club have also been pursuing Monaco striker Frederic Nimani and FC Moscow striker Maxi Lopez.
The club have also expressed interest in Panathanaikos winger Dimitris Salpigidis, former West Ham midfielder Sekou Baradji Hull midfielder Stephen Hunt and Rangers striker Kris Boyd. Teenage midfielder Eddy Gnahore has signed from Manchester City.
Meanwhile, Gary McSheffrey wants to leave after struggling to feature this season, with Sheffield United expressing an interest in taking on the winger.
Sam Allardyce has admitted an interest in Middlesbrough winger Gary O'Neil, but will have to sell before he can bring in any new players.
Blackburn are also rumoured to be in the hunt for Aston Villa midfielder Nigel Reo-Coker, Cardiff midfielder Joe Ledley and former Wigan striker Amr Zaki.
Allardyce is believed to be in talks with Feyernoord forward Andwele Slory over a loan deal and Algerian midfielder Amine Linganzi, who has been training at Ewood Park. Other targets include Portsmouth's Nadir Belhadj and Monaco's Eidur Gudjohnsen, who could be the subject of a £1.8m bid.
A swap deal for Stoke's James Beattie that could see Jason Roberts moving in the other direction is also in the pipeline. Out-of-favour Benni McCarthy will be allowed to leave, but Allardyce says no bids have been received yet. Striker Franco di Santo has extended his loan spell from Chelsea.
Elrio van Heerden has left Blackburn after making just two substitute appearances. The South African midfielder has joined Turkish club Sivasspor.
Stoke defender Andy Wilkinson could become Owen Coyle's first signing at Bolton. Aston Villa's Nigel Reo-Coker has also been linked with the club, but Newcastle have quashed rumours that their striker Andy Carroll may join Bolton.
Chris Eagles and Tyrone Mears could join from Coyle's old club Burnley. Reports suggest Coyle will try and bring in Vladimir Weiss of Manchester City on loan, while he could also move for David Nugent, who is currently on loan at his old club Burnley.
Arsenal's Jack Wilshere, Real Madrid midfielder Guti and Barcelona striker Bojan Krkic may be available on loan, while the club have also been linked with Portuguese striker Nuno Gomes and Bosnian defender Safet Nadarevic. However, Coyle has decided against signing American midfielder Stuart Holden.
Coyle is optimistic of keeping hold of defender Gary Cahill, while Hamburg have joined Marseille in the chase for striker Johan Elmander. Newcastle are close to signing out-of-favour defender Danny Shittu.
Burnley could sign Monaco striker Frederic Nimani, who is believed to be closing in on a move to the Premier League. New manager Brian Laws is in talks with Portsmouth over extending David Nugent's loan deal, but has ended his interest in Sheffield United's Matthew Kilgallon as a result of the player's wage demands.
Laws may also raid his old club Sheffield Wednesday with a £1.5m bid for their goalkeeper Lee Grant. The club could also sign Belgian international defensive midfielder Mark de Man from Germinal Beerschot.
The ghost of Owen Coyle still stalks the corridors at Turf Moor. The club's former manager risks infuriating fans further if, as reported, he makes bids for Tyrone Mears and Chris Eagles, and hijacks the club's loan move for Jack Wilshere of Arsenal.
Midfielder Stuart Holden, currently playing in the US for Houston Dynamo, is poised to go to Burnley on trial. The cash-strapped club could join the chase for Stoke striker James Beattie. Tottenham's Gareth Bale is a loan option, and the club has the option to purchase on-loan striker David Nugent from Portsmouth for £1m.
Chelsea have been linked with Serbian international Nikola Zigic. The agent of the Valencia striker claims both Chelsea and Liverpool are interested. A £36m move for Wolfsburg striker Edin Dzeko has been rumoured, with Chelsea hoping to beat AC Milan to the Bosnian striker's signature.
Manchester City and Tottenham are both in the hunt for Joe Cole, whose contract talks have stalled and who is available for free in the summer.
Chelsea are reportedly interested in signing Everton's Marouane Fellaini, while Racing Santander midfielder Sergio Canales and Benfica winger Angel di Maria are other potential signings.
Chelsea have made their first big move of the window by offering Atletico Madrid £30m for striker Sergio Agüero, although this is substantially less than the £40m they had previously indicated they might offer.
The club could also move for Monaco midfielder Jerko Leko and Bayern Munich's Bastian Schweinsteiger, with Franck Ribery another target.
Everton are the latest name to be linked with Leeds striker Jermaine Beckford. Reports claim the club may sign him when his contract expires in the summer. Molde defender Knut Olav Rindaroy has arrived at Goodison for a trial that could lead to a permanent move.
Having agreed a deal to sell defender Lucas Neill to Galatasaray for a fee of around £800,000. Everton are rumoured to be considering a £5m bid for Rennes defender Rod Fanni, who has played four times for France.
Everton are scouting Racing Santander midfielder Sergio Canales. The highly-rated 18 year-old is also being watched by Arsenal, Aston Vila and Tottenham, as well as a number of Europe's top clubs.
Louis Saha could be on his way out of Goodison Park. The club are understood to be unhappy with the striker's contract demands, and Arsenal could prepare a bid. Marouane Fellaini is reported to have attracted the attention of Chelsea.
Having already tied up a loan deal for the American Landon Donovan, David Moyes is in the hunt for Benni McCarthy, who will be allowed to leave Blackburn for £2.5m, and Olympiakos striker Matt Derbyshire, formerly of Blackburn. The club have agreed a deal with Malmo for 15-year-old defender Johan Hammar.
Philippe Senderos could join from Arsenal, and Everton are also pondering a loan move for former Gunners winger Jose Antonio Reyes.
A loan deal for Roma's Stefano Okaka appears to have fallen through over the player's injury, so Roy Hodgson could move for Hull striker Daniel Cousin instead. Crystal Palace's Victor Moses is another option as Hodgson searches for a replacement for the injured Bobby Zamora.
Romanian striker Florin Costea has been linked with Fulham. Meanwhile, the club could also be preparing to steal Tottenham's Jamie O'Hara from under the noses of Portsmouth, where the 23 year-old is currently on loan. Panathanaikos winger Dimitris Salpigidis is another potential target, with a £1m move being considered.
Hodgson could also try and sign Spurs defender Alan Hutton to boost his defence, and may also be preparing an audacious loan bid for Arsenal's Jack Wilshere.
South Korean international Seol Ki-Hyeon has left the club. The winger has agreed to join Hong Kong side South China.
Egyptian striker Mido has claimed Hull are interested in signing him. His Zamalek team-mate Amr Zaki has signed on loan until the end of the season. Phil Brown is also trying to sign Tottenham defender Kyle Naughton on loan.
The club have quashed speculation that winger Stephen Hunt may be leaving, with Wolves understood to have lodged a £3.5m bid. If Hunt does leave Phil Brown may replace him with Derby winger Kris Commons, while a bid for Aston Villa's Nigel Reo-Coker is still a possibility.
Brown could make bids for Hamilton Academicals midfielder James McArthur, and is rumoured to be looking at Marlon Harewood, currently on loan at Newcastle.
However, the club's attempt to sign Felipe Caicedo from Manchester City on loan has failed, with the striker opting for a move to Malaga. Hull have also missed out on American youngster Freddy Adu, who has decided to move to Greek club Aris from Benfica.
Caleb Folan and Daniel Cousin could both go on loan as Phil Brown tries to cut the club's wage bill. Fulham have emerged as surprise contenders to sign Cousin, but Folan has turned down a move to QPR. Nathan Doyle has moved to Barnsley for an undisclosed fee.
Rafa Benitez has been told he will have to pay £10m to buy Kenwyne Jones after Sunderland said they would not agree to a loan deal for the striker. The club are also keeping an eye on Valencia striker Nikola Zigic, according to the player's agent.
Doubts over Steven Gerrard's future persist, with reports suggesting he is considering leaving the underachieveing club. Inter Milan, Real Madrid and Manchester City are all interested. Ryan Babel looks almost certain to leave Anfield after his Twitter outburst. Ajax, Bayern Munich, Fiorentina, Marseille and Galatasaray are all in the running for his signature.
Serbian international Milan Jovanovic has also revealed that Liverpool are interested in signing him. The 28-year-old striker plays for Standard Liege. Liverpool could be close to sealing a £25m move for highly-rated Bordeaux striker Marouane Chamakh.
Rafa Benitez has clinched the signing of Argentina midfielder Maxi Rodriguez from Atletico Madrid on a free transfer. Andrea Dossena has signed for Napoli for a deal worth around £4.5m, and Andriy Voronin has ended his unhappy stay at Anfield by agreeing a trasnfer to Dinamo Moscow.
Having signed Patrick Vieira on a six-month contract at Eastlands, Mancini's next signing is rumoured to be former Arsenal midfielder Mathieu Flamini. The Frenchman could sign on loan from AC Milan.
Manchester City could move for Joe Cole, who is out of contract with Chelsea at the end of the season, but Argentina winger Angel de Maria and CSKA Moscow winger Milos Krasic have both rejected offers from Roberto Mancini.
City are set to go head-to-head with Manchester United for the signature of Napoli midfielder Marek Hamsik. The Slovakian international is rated at £25m.
However, Mancini has played down speculation over Argentina international left-back Cristian Ansaldi, currently at Russian champions Rubin Kazan, and has told an Italian newspaper he is not interested in signing Barcelona forward Zlatan Ibrahimovic.
City have reportedly joined the chase for Crystal Palace's Victor Moses, and are also reported to be tracking Racing Santander's 18-year-old midfielder Sergio Canales. Danish defender Simon Kjaer, currently at Palermo, could also move in an £18m deal, while moves for Juventus's Giorgio Chiellini, Hamburg defender Jerome Boateng and Portsmouth's Younes Kaboul have been rumoured.
Barcelona are preparing a bid for Wayne Rooney, according to reports, with Real Madrid also interested.
Sir Alex Ferguson is looking for goalkeeping cover for Edwin van der Sar. Manuel Neuer of Schalke is the latest name to be linked with the club. Sebastian Frey, Hugo Lloris and David James are also rumoured to be targets.
United are considering an £18m move for Porto defender Rolando, while the club could go toe-to-toe with City for the signing of Napoli midfielder Marek Hamsik. The Slovakian international is rated at £25m and Sir Alex Ferguson sees him as a long-term replacement for Paul Scholes.
Sir Alex is planning a massive summer clear-out, according to reports. Dimitar Berbatov, Nani, Anderson and Nemanja Vidic could all be sold. Nani has been touted for a exit as part of an exchange deal for Benfica winger Angel di Maria. Ben Foster is also available for £4m, according to reports, while Frederico Macheda could go to Real Zaragoza or Bologna on loan.
Ferguson could also swoop for 18-year-old Rangers defender Danny Wilson or Serbian defender Uros Cosic, and may attempt to hijack rivals Manchester City's move for Juventus defender Giorgio Chiellini. Swedish teenager Rasmus Lindgran will join the club's youth academy next month on trial.
Portsmouth have apparently agreed to sign Romanian midfielder Razvan Cocis on a free transfer if the club's transfer embargo is lifted. Avram Grant could also make a loan move for Tottenham's Giovani dos Santos.
Kevin-Prince Boateng could be sold to ease Portsmouth's financial troubles, with Sunderland rumoured to be preparing a £5m bid. Nadir Belhadj could also leave, with Benfica said to be preparing a £3m bid.
Younes Kaboul could be the subject of an £8.8m bid by Lille. Manchester City and Sunderland are also interested in the Frenchman.
Grant has the option of recalling striker David Nugent from his loan spell at Burnley in the event that Pompey are barred from signing any new players. However, Aruna Dindane could be recalled by parent club Lens.
Stoke could fight it out with Sunderland for England goalkeeper Ben Foster, who is thought to be available for around £4m. The club have ended their interest in signing David James from Portsmouth.
An approach for Ruud van Nistelrooy looks like it will be unsuccessful, but Wigan's Hugo Rodallega, available for £10m, is a possibility. Stoke have also been linked with Kenwyne Jones and Emile Heskey as replacements for James Beattie, who may leave. Dimitris Salpigidis, the Panathanaikos winger, has also been linked with the club.
Meanwhile, Pulis is rumoured to have entered the race for West Ham's Scott Parker, and they could try and sign Barcelona prodigy Oriel Romeu on loan.
Forward Richard Cresswell has moved to Sheffield United for an undisclosed fee.
Sunderand have been linked again with Wigan's Maynor Figueroa, with reports suggesting Kieran Richardson may be offered as part of a swap deal. Steve Bruce is also thought to be preparing a bid for Benfica's Nuno Gomes Portsmouth midfielder Kevin-Prince Boateng. Bruce could also bid £4m for Manchester United goalkeeper Ben Foster.
Kenwyne Jones has been linked with a £10m move to Liverpool. Bruce may replace him with Paraguay striker Salvador Cabanas, but transfer target Kevin Kuranyi has pledged his future to Schalke and will not move this window.
Middlesbrough's Adam Johnson could be heading to the Stadium of Light. Sunderland are also keeping tabs on Egyptian midfielder Shikabala, while Ivory Coast full-back Guy Demel could also move to the Stadium of Light for £5.5m.
The club could also move for Younes Kaboul of Portsmouth, Alan Hutton and David Bentley of Spurs, and Coventry goalkeeper Keiren Westwood.
The club are believed to be close to signing Real Madrid striker Ruud van Nistelrooy on a free transfer. The Dutchman is thought to have flown to London to discuss terms and undergo a medical. Van Nistelrooy's arrival will hasten the departure of Roman Pavlyuchenko, although Zenit St Petersburg and have reportedly ended their interest in the Russian.
Reports in France suggest Spurs are pursuing Bordeaux right-back Mathieu Chalmé. However, Sevilla are also said to be interested. Tottenham could also make an £11m move for Palermo defender Simon Kjaer, also a target for Manchester City and Chelsea.
The speculation over David James refuses to die down, with reports suggesting Harry Redknapp is preparing a last-ditch bid for the England goalkeeper. However, Brazilian club Internacional now claim midfielder Sandro will not be joining Tottenham this transfer window.
Tottenham are following Joe Cole's faltering contract negotiations with Chelsea and could be tempted into making a bid, with Cole out of contract at the end of the season.
Spurs have also been linked with Crystal Palace striker Victor Moses, Monaco's Eidur Gudjohnsen, Sporting Lisbon's Miguel Veloso, Peterborough captain George Boyd and Wigan's Maynor Figueroa.
West Ham United
New West Ham owner David Sullivan has just days to make his impression on the transfer window. The club are rumoured to be weighing up a move for Argentinian striker Maxi Lopez from FC Moscow, while Belarus striker Sergey Kornilenko could move to Upton Park from Zenit St Petersburg.
West Ham have reportedly put a £15m price tag on midfielder Scott Parker in an attempt to deter Liverpool, Tottenham and Stoke from making a bid. Catania, Chievo and Parma are all reportedly interested in midfielder Luis Jimenez. However, Alessandro Diamanti, the club's 26-year-old striker, has dismissed reports linking him with a move to AC Milan.
Monaco's Eidur Gudjohnsen, Portuguese veteran Nuno Gomes and Fiorentina striker Adrian Mutu are the latest names to have been linked with West Ham as Gianfranco Zola searches for a striker.
Robert Huth of Stoke, Belgian winger Geoffrey Hairemans, Stoke's James Beattie and Tours striker Olivier Giroud are other possible targets.
Gary Caldwell has rejected an offer from Middlesbrough to join Wigan in a four-and-a-half year deal thought to be worth around £1m, while Ivory Coast defender Steven Gohouri has signed until the end of the season.
Wigan are one of a number of clubs reportedly interested in signing Nigel Reo-Coker from Aston Villa for around £5m. A move for Mallorca forward Aritz Aduriz that could see Hugo Rodallega moving in the opposite direction is also on the cards, while Roberto Martinez is rumoured to be lining up a £4.5m bid for Sporting Gijon left-back Roberto Canella, a £4m move for Genk's Brazilian defender Joao Carlos and a £3m bid for Leicester striker Matty Fryatt.
The club have already completed the loan signing of Serbian international goalkeeper Vladimir Stojkovic, but Celtic have rebuffed an approach for striker Scott McDonald.
Maynor Figueroa has attracted the attention of Sunderland. Oliver Kapo has completed a loan move to French side Boulogne, while Daniel de Ridder could move to Israeli side Hapoel Tel Aviv.
Wolves are believed to have made a bid of £6.5m for Middlesbrough's highly-rated winger Adam Johnson, but Chelsea are also monitoring the situation. The club may also try and take Portsmouth striker Tommy Smith on loan, while Stoke's James Beattie has emerged as a target.
Hull winger Stephen Hunt could move to Wolves, with the two clubs understood to be nearing agreement on a £3m deal, but Mick McCarthy will need special Premier League dispensation to take Tottenham's Jamie O'Hara on loan.
McCarthy is also interested in Derby's Kris Commons, Guingamp midfielder Richard Soumah and Aston Villa's Craig Gardner. However, the club's attempt to take Toulouse winger Fodé Mansaré on trial appears to have stalled.
Neil Collins has been sold to Preston for £750,000, while Richard Stearman could be a Liverpool target.