Transfer news: Zlatan Ibrahimovic to snub China and stay with Manchester United, Chelsea eye James Rodriguez

The biggest transfer stories from the Premier League on Sunday 18 December

Zlatan Ibrahimovic in action for Manchester United against West Brom (Getty)

The in-form Zlatan Ibrahimovic is set to turn down a staggering £120m bid from China in order to extend his stay at Manchester United.

According to the Daily Mail, the Chinese government is willing to bankroll a move for the Swede knowing he would be able to guarantee millions in commercial revenue and raise the profile of the Chinese Super League.

But a move looks unlikely, especially given Jose Mourinho’s recent admission that the club intends to offer Ibrahimovic another year at Old Trafford which the 35-year-old is happy to take.

Elsewhere, Manchester City are reportedly planning a £25m move for Arsenal’s Alex Oxlade-Chamberlain in the January transfer window.

Even though Arsene Wenger has issued a stern hands-off warning, the club have no current plans to offer the 23-year-old a new deal who has just 18 months left on his current Emirates contract.

Pep Guardiola is known to be an admirer of Oxlade-Chamberlain and having recently lost Ilkay Gundogan through injury, the Spaniard now looks set to launch a surprise bid for the youngster, the Sun reports.

But speaking ahead of Sunday’s clash against Manchester City, Wenger warned: “City have been good clients. But we are financially much more competitive than we were before.

“We were always competitive but we had to sell our players, that is the big difference. Now we can keep our players. Today we can make the decision.”

Joe Hart has emerged as a shock target for Leicester City following fears at the club that Kasper Schmeichel will be lured away from the King Power Stadium.

The Englishman is set to return from Torino next summer and the Sun reports that the Foxes have discreetly made their interest known as they look to reinforce their goalkeeping options.

League leaders Chelsea are allegedly preparing a £75m scoop for Real Madrid James Rodriguez and will bankroll the transfer using the £62m they’re set to receive from the sale of Oscar to Shanghai SIPG.

Rodriguez has grown increasingly frustrated by his lack of game time at the Bernabeu, having been involved in only eight La Liga games this season.

But with Madrid star Gareth Bale sidelined through injury until February, the club will be reluctant to sell the Colombian star.

Lastly, Ross Barkley looks set to be on his way out from Goodison Park after Everton effectively put the player up for sale as they seek to finance a move for United outcasts Memphis Depay and Morgan Schneiderlin.

According to the Daily Express, the Toffees have put a £30m price-tag on Barkley and have issued a “come and get him” invitation as they try to offload the midfielder.

Tottenham, anxious to provide more support for Harry Kane, are expected to make a first move for the player.