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Aston Villa – Emile Heskey could depart as he searches for regular first-team football ahead of the World Cup, Nigel Reo-Coker could be on the way out.
Birmingham reportedly made an offer for Standard Liege striker Milan Jovanovic, who is wanted by Liverpool, while the club are believed to be preparing a third bid for Liverpool 's Ryan Babel.
Chelsea have been linked with Serbian international Nikola Zigic. Manchester City and Tottenham are both in the hunt for Joe Cole, whose contract talks have stalled and who is available for free in the summer. Chelsea are reportedly interested in signing Everton's Marouane Fellaini, Chelsea have made their first big move of the window by offering Atletico Madrid £30m for striker Sergio Agüero.
Liverpool need players like an insomniac needs a bag of sedatives. Rafa Benitez has been told he will have to pay £10m to buy Kenwyne Jones after Sunderland said they would not agree to a loan deal for the striker. Ryan Babel looks almost certain to leave Anfield after his Twitter outburst. Ajax, Bayern Munich, Fiorentina, Marseille and Galatasaray are all in the running for his signature, but a £9m move to Birmingham looks most likely. Rafa Benitez has clinched the signing of midfielder Maxi Rodriguez from Atletico Madrid on a free transfer. While Andrea Dossena & Andriy Voronin have been shown the door.
Manchester City - Not content with buying the entire Premiership. Mancini begins his empire building with interest in Fiorentina striker Adrian Mutu a move for Joe Cole, who is out of contract with Chelsea at the end of the season. Having signed Patrick Vieira on a six-month contract at Eastlands, the club could bring in another ex-Arsenal player, Mathieu Flamini. The French midfielder could sign on loan from AC Milan. City have reportedly joined the chase for Crystal Palace 's Victor Moses, and are also reported to be tracking Racing Santander's 18-year-old midfielder
Manchester United - Barcelona are preparing a bid for Wayne Rooney, according to reports, with Real Madrid also interested. Goalkeeping cover for Edwin van der Sar is also on the agenda with Manuel Neuer of Schalke is the latest name to be linked with the club.
Spurs - Inter Milan have been linked with a £10 million move for midfielder Jermaine Jenas that could involve Sulley Muntari heading in the opposite direction. West Ham are reportedly interested in Robbie Keane. 'Appy' Harry Redknapp is interested in signing Real Madrid striker Ruud van Nistelrooy on a free transfer. This would hasten the departure of Roman Pavlyuchenko, while Long-term target Klaas-Jan Huntelaar could also be the subject of a bid.
West Ham - New West Ham owner David Sullivan's first priority is to sign a striker. The club are rumoured to be considering bids for Blackburn Benni McCarthy, Fulham's Bobby Zamora, Everton's Jo and Tottenham pair Alan Hutton and Robbie Keane. striker Sergey Kornilenko could also move to Upton Park from Zenit St Petersburg. West Ham have reportedly put a £15m price tag on midfielder Scott Parker in an attempt to deter Liverpool , Tottenham and Stoke. Catania, Chievo and Parma are all reportedly interested in midfielder Luis Jimenez.
Phew so that's your lot! Which clubs do you think will get a bargain in the transfer window or do you think the January sales is just a load of hype? Post your comments today.