Arsenal look set to be the busiest club as the deadline rapidly approaches. With no money to spend loans are on the agenda with the move for Barcelona's Denis Suarez confirmed. Inter Milan's Ivan Perisic and PSG's Christopher Nkunku remain options, but the club have renewedd interest in Yannick Carrasco in a late move. Chelsea have made the biggest splash with the signing of Borussia Dortmund's Christian Pulisic but could well add more after seeing Gonzalo Higuain arriving from AC Milan on loan.
Manchester United are flying - could Ole Gunnar Solskjaer add to his in-form squad this month - while Manchester City and Liverpool could look to dip their toes in the water with the title race looking set to go right down to the wire.
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Good morning and welcome to our transfer news live blog on the penultimate day of the January window, with Arsenal and Manchester City both poised to make moves today.
Arsenal are hoping to get at least one signing across the line by the end of Wednesday and that looks to be Barcelona's Denis Suarez, who could arrive on loan. However, the club also remain keen on Inter Milan's Ivan Perisic and PSG's Christopher Nkunku and hope that Suarez will not be the only new arrival.
City are expecting to complete the signing of youngster Ante Palaversa, but you never know what the 2-1 defeat by Newcastle last night could do as they look to salvage their Premier League title defence.
We'll bring you all the latest updates throughout the day so don't touch that dial.
It's all about Arsenal this morning, so let's start with the latest on the deal to bring Denis Suarez to the Emirates.
Suarez was first offered to the Gunners back in December, as revealed by The Independent. Arsenal's interest was only ever in a loan move with an option to buy in the summer as they are short on transfer funds this month.
Last week the chances of Suarez moving to Arsenal were damaged by the entrance into the market of Sevilla, who were willing to buy him outright. Barcelona preferred the option of cutting ties with Suarez, and were only willing to countenance a loan deal if Suarez signed a contract extension at the Nou Camp first.
Arsenal are back on the scene, however, with Suarez now open to signing a one-year extension at Barcelona that he hopes would never be needed.
The idea would still be that Arsenal buy out Suarez's loan in the summer but the clause would be an option rather than a compulsory purchase.
But Suarez may not be the only signing heading to Arsenal.
The club remain very interested in Inter Milan's wantaway winger Ivan Perisic, as well as PSG midfielder Christopher Nkunku.
Speaking before last night's 2-1 victory over Cardiff City, Unai Emery admitted that he expects up to two signings to arrive before Thursday's deadline, and with Suarez on the verge of being completed, the club are ready to turn their attentions to their other two high-profile targets.
And that's not all for Arsenal this morning.
It's being claimed that both the Gunners and Manchester city have entered the race to sign Everton midfielder Idrissa Gueye, according to Sky Sports.
Paris Saint-Germain have been the front-runners in the race for his signature, but Everton are yet to receive a satisfactory offer and as such, both Arsenal and City are looking to swoop in and sign the Senegal international.
Manchester City are closing in on their first signing of the January window in the shape of young Croatian midfielder Ante Palaversa, who has undergone a medical with the Premier League side and is poised to agree terms with Pep Guardiola's side.
The likelihood is that Palaversa will remain with Croatian side Hajduk Split until the end of the season, but he is already being viewed as the successor to midfield general Fernandinho.
Leicester City look to be closing in on an impressive swap deal that will see Andre Gomes head to Monaco and young Belgian midfielder Youri Tielemans make the move to the King Power Stadium.
Both Tottenham and Newcastle have been linked with Tielemans this month, but Leicester look to be in pole position for his signature and have offered out-of-form Gomes in order to sweeten the deal, according to The Telegraph.
This looks like one that could progress significantly over the next 24 hours.
Big news for Arsenal...
The Independent can reveal that the club have agreed the loan signing of Denis Suarez, with talks completed and the only thing left to do being a formal announcement by both clubs.
The deal will see Suarez join up with Arsenal immediately and put him in contention for the Premier League clash with Manchester City this weekend, and Arsenal also have the option to sign the midfielder on a permanent basis between now and the end of the season.
Some news in from Germany.
Striker Sandro Wagner is leaving Bayern Munich with immediate effect after agreeing to join Chinese Super League side Tianjin Teda.
The 31-year-old only spent a year at the Allianz Arena in what was his second spell with the club, after after scoring eight times in 21 league appearances he has left the club to move to the Far East.
BREAKINGHuddersfield Town have announced the signing of striker Karlan Grant on a permanent deal from League 1 side Charlton Athletic, with the 21-year-old agreeing a three-and-a-half-year deal with the Premier League club for an undisclosed fee.
To Tottenham and more bad news.
Adrien Rabiot is said to have turned down a move to Spurs because he wants to join Liverpool instead, according to The Sun.
The 23-year-old's contract is up in the summer.
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