Transfer Talk: Gareth Bale could still move to Manchester United; Arsenal hold secret talks with Sergio Ramos; City lining up Madzukic

Transfer talk: A look at the latest news, gossip and rumours on 24 December

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Spanish newspaper AS continue to report that Manchester United are preparing a mammoth £120million offer for Real Madrid star Gareth Bale.

The Welshman is reported to be unhappy in Spain, despite helping the club to three trophies in a year and a half, although Los Blancos have no intention of selling the winger.

However, such a large fee would allow Real Madrid considerable flexibility in the transfer market and would bring them more into line with Financial Fair Play.

Bale's sale clause is reported to be set at €1billion (£785million).

An AS journalist, Esteban Manolete, has also told Spanish radio station La Goleada that Arsenal has spoken to the agent of another Real Madrid star, Sergio Ramos.

The Spain defender is undergoing talks over a new deal but, apparently, the two parties are quite far apart in their valuation of the player.

The Daily Express report that Paris Saint-Germain manager Laurent Blanc has finally lost patience with Edinson Cavani, who has been unhappy all season - Arsenal could rescue the Uruguayan striker with a £50m bid.

We reported that Turkish side Besiktas are interested in a loan move for Chelsea winger Mohamed Salah, who has struggled for games and form this season, but Jose Mourinho confirmed that Chelsea have "no chance" of signing Lionel Messi, despite speculation.

Another player who could be on the way out of Chelsea is Petr Cech, with the Daily Star reporting that Cech's agent has confirmed talks have taken place between the west London club and Real Madrid.

Arsenal have contacted Real Madrid over Sergio Ramos, according to Spanish reports (GETTY IMAGES)

The Star also report that Manchester City are lining up a £25m bid for Mario Mandzukic to ease their striker crisis - with Sergio Aguero, Edin Dzeko and Stevan Jovetic out, James Milner will again have to play up front.

Jermain Defoe is being linked with another reunion with Harry Redknapp, with the Daily Mirror reporting the Toronto FC striker has flown to London.

Tom Cleverley, on loan at Aston Villa from Manchester United, is playing a waiting game over a new contract.

The Sun report that Scott Sinclair could be set for a move to Crystal Palace after playing just 18 games since moving to the Etihad in 2012.