Chelsea are monitoring the situation of Liverpool forward Raheem Sterling, after the England international turned down the Reds' latest contract offer, according to the Daily Express.
Sterling previously had rejected Liverpool's opening offer of £70,000 and is reportedly holding out for closer to £100,000 per week.
Liverpool, Arsenal and Manchester United are all on red alert after reports from Spain emerged suggesting that Real Madrid are open to selling Karim Benzema.
Video: January transfer deals
The French striker is contracted to Real until 2019, but the La Liga side are believed to be open to selling the 27-year-old.
Burnley's Danny Ings, who has scored seven Premier League goals this season, is a £5m target for Tottenham Hotspur, according to the Daily Mirror. Spurs are considering making a late bid for the 22-year-old.
Transfer talk - 26 January
Chelsea could make an offer for the Newcastle midfielder Moussa Sissoko, after failing in their approaches for Fiorentina's Juan Cuadrado and Shakhtar's Douglas Costa, goal.com report.
Having missed out on Martin Odegaard, Manchester United are after the next Norwegian wonderkid, Edvard Sandvik Tagseth, who is just 14.
Everton and Manchester City are also reportedly interested in signing the player, who is set to make a visit to the club soon to check out the facilities.
Darren Fletcher seems certain to leave United in this transfer window, with West Ham the latest club to show an interest in the Scotland midifielder. Tony Pulis had previously confirmed West Brom's interest.Reuse content