Arsene Wenger may be forced to re-evaluate Arsenal's January transfer plans following the loss of Theo Walcott to a knee injury which will rule the England forward out for the rest of the season and shatter his World Cup dream.
The Frenchman has been left disappointed, however, after initially being optimistic about his chances of persuading Real Madrid chiefs to let Alvaro Morata join the Gunners on a short-term loan deal.
Juventus general manager Guiseppe Marotta also rejected talk of Paul Pogba leaving the Italian club for Arsenal and reaffirmed their commitment to keeping the French international.
Beleaguered Manchester United manager David Moyes has been given free rein over the club’s transfer dealings this month with the Old Trafford hierarchy concerned about their chances of qualifying for the Champions League.
Brazilian legend Ronaldinho has signed for Turkish side Beşiktaş in one final roll of the dice to earn himself a place in Luiz Felipe Scolari's Brazilian World Cup squad, according to reports in Holland.
AC Milan forward Mario Balotelli today rebuffed rumours linking him with a reunion with former manager Jose Mourinho at Chelsea
Mourinho was dealt another considerable blow when Inter Milan sporting director Piero Ausilio revealed that the San Siro club have no intention of selling Fredy Guarin.
Unsettled midfielder Juan Mata will hold ‘showdown’ talks with Blues manager this week after Atletico Madrid expressed an interest in taking the Spaniard on loan and saving his dwindling World Cup aspirations.
David Moyes is resigned to failing in a second attempt to prize Fábio Coentrão away from Real Madrid, according to reports.
Liverpool manager Brendan Rodgers is facing a six month wait to sign prime targets Cristian Tello and Mohamed Salah - from Barcelona and FC Basel respectively - after both deals looked increasingly unlikely last night.
The Reds' hopes of signing Chelsea's out-of-favour defender Ryan Bertrand look increasingly slim as the Blues have grown disappointed by the lack of first team football given to loanee Victor Moses.
Tottenham Hotspur have been put on alert after rumours surfaced this morning that Paris Saint Germain have joined their Ligue 1 rivals Monaco in pursuit of Kyle Walker.
Queens Park Rangers manager Harry Redknapp has told Newcastle United that he values Loic Remy - currently on loan at St. James' Park - to be 'worth double' the £8m he spent on the Frenchman last January.
Ravel Morrison has informed West Ham boss Sam Allardyce that he would like to leave Upton Park and be reunited with new Fulham manager Rene Meulensteen, according to reports.
Ole Gunnar Solskjaer is trying to secure a cut-price deal for Newcastle United's injury-hit defender Steven Taylor, according to reports.
Crystal Palace won't be re-signing Wilfried Zaha on loan this January after Manchester United informed the Eagles that they would prefer to offload the winger elsewhere. They are hopeful of securing a deal for Demba Ba however.