Wesley Sneijder made news on Wednesday with Galatasaray confirming they have agreed a transfer fee to recruit the midfielder from Inter Milan. Expect more done deals today, with Manchester United possibly tabling an offer for Wilfried Zaha, while Rio Ferdinand and Sylvain Distin edge closer to contract extensions.
23.59 GMT: Thursday has officially drawn to a close, be sure to stay tuned for Friday's paper round-up.
23.20 GMT: More reports on Mario Balotelli, with the Guardian now stating that Manchester City are willing to sell the striker to AC Milan - interesting, given that Milan owner Silvio Berlusconi labelled his compatriot a "rotten apple" earlier this week.
22.30 GMT:Sevilla striker Alvaro Negredo could join Tottenham for £15 million according to a Daily Mail story. Club president Jose Maria del Nido is in London to explore a deal with Spurs officials for the 27-year-old Spain international who has eight goals in 16 games this season.
21.50 GMT:St Etienne have signed Nordsjalland midfielder Andreas Laudrup on loan until the end of the season with an option to make the deal permanent upon expiry. The 22-year-old, the son of Swansea manager Michael Laudrup, has made over 80 appearances for the Danish champions, including four outings in the group stage of the Champions League this season.
Chief executive Roland Romeyer said: “We have not hired a name but a player who has great potential. His qualities as a footballer are what convinced us. The arrival of Andreas meets our desire to supplement our workforce as soon as possible to meet the many challenges ahead this season.”
21.30 GMT:Oussama Assaidi could be set to leave Liverpool just six months after signing claim talkSPORT, who say that Ajax and Galatasaray are both monitoring the wingers’ situation. Assaidi is on international duty with Morocco at the moment, and is contracted to Liverpool until 2016, but that won’t deter either club from pursuing a temporary deal.
21.05 GMT:Inter Milan sporting director Pier Ausilio says that the Italian club has first refusal to sign Mario Balotelli should Manchester City choose to sell him. Ausilio told Panorama: "It's true, Inter have first refusal right for Mario Balotelli. We will decide to exercise it just whether City will choose to selling him. Mario can play alongside any attacker."
20.40 GMT:The twitter account of Saudi Arabian club Al-Hilal has claimed that Abdou Mangane will join Sunderland on a 6 month loan deal with a purchase option in the summer.
20.25 GMT:In another development, the Evening Standard also claims that Zaha will make a £12 million move to Manchester United in the January transfer window, but Sir Alex Ferguson will sanction a loan deal to take the 20-year-old back to Selhurst Park until the end of the season.
20.18 GMT:Reports in the London Evening Standard suggest that it might not just be Wilfried Zaha who Crystal Palace lose this month. Another of their exciting young talents, Yannick Bolasie, is attracting interest from several Premier League clubs including Wigan, Stoke, Newcastle and Tottenham.
20.00 GMT:Newcastle are set to complete a deal for Swiss defensive midfielder Kevin Mbabu. The 17-year-old has played just one game for current club Servette and has previously been linked with Arsenal and Manchester United. The deal is estimated to cost the club around £1 million, with Mbabu set to join the Magpies' development squad.
19.43 GMT:Nottingham Forest manager Alex McLeish has told Lee Camp he is free to find another club. The Northern Ireland international goalkeeper has been linked with Championship rivals Hull and Ipswich and Premier League side Reading.
"I told Lee that he could speak to his agent about finding another club," McLeish told the club's official website. "It was face-to-face. I told him that I had to make changes and that I knew there had been some frustration between him and the club over a period of time."
19.10 GMT:Fiorentina are the latest side to express an interest in Chelsea midfielder Frank Lampard. Find out more here.
18.42 GMT:Samuele Longo has had his loan at Espanyol cut short and returned to Inter Milan after losing his place at the Primera Division side following a change of manager. The 20-year-old’s agent, Renzo Contratto, explained: “More experienced players came back into the side and therefore Longo, along with some others, were deemed surplus to requirements.”
18.26 GMT:Catania striker Takayuki Morimoto, 24, has joined Al Nasr on loan for the rest of the season, the Serie A club have confirmed. A statement published on ilcalciocatania.it read: “Catania can confirm that Takayuki Morimoto has joined United Arab Emirates-based club Al Nasr. The transfer is a temporary arrangement.”
18.07 GMT:Andre Villas-Boas has ruled out the chances of Lewis Holtby moving to Spurs this month. The Schalke star has agreed to move to White Hart Lane upon the expiry of his contract in the summer, and there was a possibility he could move early, something Villas-Boas has dismissed. He said: "When you reach an agreement with a player that is a free transfer in the summer, there is always that possibility, but it is not something we are looking to do."
17.57 GMT:Borussia Dortmund captain Sebastian Kehl has expressed his desire for Robert Lewandowski to extend his contract with the club, telling Bild: "I really hope that Robert decides to do so, even if there is a lot of speculation at the moment." Lewandowski's current deal is up in 2014, but, despite interest from Manchester United, Dortmund CEO Aki Watzke is confident the club can convince him to sign an extension.
17.41 GMT:Kader Mangane is edging closer to a move to Sunderland. Reports from the Middle East say his club have agreed to release him on-loan to the Black Cats until the end of the season, with the option to purchase him thereafter. The 29-year-old spent time in Ligue 1 with Rennes before moving to Al-Za'eem in July.
17.30 GMT:Newcastle manager Alan Pardew says the club are working overtime trying to bring new faces in during the January transfer window but admits players are more likely to arrive toward the end of the month.
"We are trying to get players in,” he told the Newcastle Evening Chronicle. “We have got Debuchy in who will be very important to us. We are working hard. I know there are loads of names being thrown about. It will accelarate as we get towards the end of the window."
16.53 GMT:Nahki Wells is being linked with a move to the Championship following his heroics for Bradford in the Capital One Cup semi-final first leg win against Aston Villa. Wells, 22, is reportedly interesting Leeds, Huddersfield and Wolves say Sky Sports.
16.30 GMT: Had a horror show with your Premier League fantasy team? Well why not join our game for the second half of the season and have another go. Also a reminder that all managers need to re-select their squads.
16.26 GMT: Brian McDermott has dismissed reports linking Reading with a loan move for Manchester United's England striker Danny Welbeck. "I can't see Sir Alex Ferguson sending Danny out to any club. I don't know where this has came from, it's got nothing to do with me," McDermott said.
16.20 GMT: West Brom head coach Steve Clarke insists central defender Jonas Olsson is "not for sale" after rejecting a bid - believed to be £5 million - from QPR.
16.10 GMT: DONE DEAL Crystal Palace have signed Alex Nimely on loan from Manchester City for the rest of the season.
15.57 GMT: DONE DEAL Andrea Dossena has completed his move to Palermo from Napoli on loan until the end of the season with the option to buy.
15.53 GMT: DONE DEAL We now have another confirmed transfer at Nottingham Forest, with Gonzalo Jara moving over from West Bromwich Albion on loan until the end of the season.
15.46 GMT: Roberto Martinez says Wigan Athletic will only sell players if it is in the interests of the football club - and he wants to keep hold of his best players. James McCarthy, Franco di Santo and Maynor Figueroa have all been attracting interest. "We're not in a position where we're going to sell our best performers or our best assets. That's never happened before," he said. "Whenever we lost players, it's been at the right price and at the right time."
15.35 GMT: ESPN understands that QPR will invite cash bids for out-of-favour Alejandro Faurlin. And the midfielder’s agent has told Sky Sports that he is highly likely to leave in this window.
15.26 GMT: Andre Villas-Boas has said that Tottenham Hotspur will not sign another striker in this transfer window, despite Emmanuel Adebayor's departure for African Nations Cup leaving them with only one main striker in Jermain Defoe.
15.13 GMT: Inter Milan midfielder Wesley Sneijder has been given 24 hours to decide if he wants to join Galatasaray, according to the Turkish club's director of sport. Quoted in the Gazzetta dello Sport, Galatasaray director Bulent Tulun told Turkish radio station Radyospor: "Sneijder will give us a response inside 24 hours, but in 99% of these cases the transfer negotiations are already done."
15.04 GMT: Andre Villas-Boas has played down reports linking him with a bid for Leandro Damiao and insists it is "unlikely" the Brazil striker will move to Tottenham."Leandro is a player we've always appreciated, that this club appreciated before I arrived, but it's extremely difficult that he's going to join Tottenham," he told a press conference.
14:53 GMT: Sky Sports are reporting that Queens Park Rangers have rejected a bid from Palermo to take Alejandro Faurlin on loan for the remainder of the season.
14:31 GMT: Yet more Newcastle! San Lorenzo manager Juan Antonio Pizzi has reaffirmed the club's desire to sign defender Fabricio Coloccini from Newcastle.
14:10 GMT: Julien Faubert is desperate to return to Ligue 1 and claims four clubs have expressed an interest in signing him. The former West Ham player has been released from his contract with Turkish side Elazigspor after only six months and is currently training with his former club Bordeaux to maintain his fitness.
13:52 GMT: Norwich boss Chris Hughton has denied making a bid for Celtic striker Gary Hooper.
13:46 GMT: Bristol City manager Derek McInnes has confirmed the club have agreed an undisclosed fee with Kilmarnock for midfielder Liam Kelly.
13:42 GMT: DONE DEAL Leeds United have signed Michael Tonge from Stoke City for an undisclosed fee on a two-and-a-half-year contract.
13:31 GMT: Marseille midfielder Charles Kabore is angling for a move to the Premier League. "I have a contract with Marseille until June 2015 so I can hold out for a move to England," Kabore said. "I love English football. I have contacts with some clubs in other leagues, but my priority is to play in the best league in the world."
13:20 GMT: DONE DEAL Nineteen-year-old Barcelona B midfielder Miguel Maza has joined third division club Betis B on loan until the end of the season.
13:09 GMT: This from @tancredipalmeri on Twitter: "Newcastle might lose Santon as his agent will meet in next hours Milan to discuss the transfer." Newcastle again!
13:01 GMT: Genoa have withdrawn their interest in Ezequiel Schelotto from Atalanta, meaning Inter Milan now look set to win the race.
12:56 GMT: The agent of Brazilian full-back Fernando Marcal says Everton have been tracking his services. Sky Sports are reporting that the player, on the books of Nacional in Portugal, is in demand. His agent, Lee Payne of Full Contact, said: "We know Everton have watched him, that is true - but Fernando has been playing very well and a number of clubs are following his progress."
12:50 GMT: More Newcastle news! St Etienne have played down reports that Pierre-Emerick Aubameyang could leave with the Tyneside club linked. "There is a lot of talk about many strikers and Newcastle, but Aubameyang will finish the season with us," St Etienne vice-president Dominique Rocheteau told RMC. "In football nothing is 100% certain, but we plan on keeping him."
12:42 GMT: Toulouse have confirmed Moussa Sissoko may leave the club for 3.5 million euros this January. The player's contract expires this summer, with Tottenham, Juventus and Newcastle all being linked to the French international in recent months.
12:37 GMT: Schalke striker Klaas-Jan Huntelaar has a €15 million release clause in his new contract, according to Sport Bild.
12:31 GMT: Jean-Raymond Legrand, president of Valenciennes, has confirmed an offer from Newcastle for full-back Gaetan Bong. The 24-year-old currently has 18 months left on his contract. Legrand told le10sport.com: "Newcastle is still very interested. They made an offer, but I'm not going to panic. I will not make sales if I can't replace the players. We must still have a team for the second half of the season."
12:25 GMT: Cristiano Ronaldo was again coy when given a chance to commit his future to Real Madrid after his hat-trick helped his side to a 4-0 win over Celta Vigo.
12:20 GMT DONE DEAL: Wolverhampton Wanderers have allowed Ethan Ebanks-Landell to return to Bury on loan for another month.
12:16 GMT: Nicolas Anelka will train with Paris Saint-Germain this week, adding weight to speculation the well-travelled forward is looking to return to Europe and end his stay in China.
12:11 GMT: Real Betis manager Pepe Mel has revealed Jose Canas is set to move to Swansea, but says the transfer will not happen until the midfielder's contract ends in the summer - unless the Premier League club are willing to up their offer for the player.
12:04 GMT: Alessandro Moggi, agent of Parma’s Cristian Zaccardo, has arrived at AC Milan to thrash out a deal.
11:50 GMT: Yann M'Vila has asked to leave Rennes and is tipped to move to England or Russia. "It's possible [he'll leave] if we get some interesting offers," the club's general manager, Pierre Dreossi, told radio station RMC. "He wants to leave, but if it doesn't happen, it will be next summer." Here's the full story.
11:41 GMT: Roland Juhasz has agreed a deal with Trabzonspor, the Hungarian international had been linked with a loan move to Sunderland earlier in the window.
11:30 GMT DONE DEAL: Our first completed transfer of the day sees Elliott Ward join Nottingham Forest on loan from Norwich City for the remainder of the season. He was on loan at the Championship club before the turn of the year too.
11:14 GMT: Reports reaching us that Birmingham City have turned down an offer from Nottingham Forest for their winger Chris Burke.
11:07 GMT: Kenwyne Jones could still leave Stoke City before the end of the transfer window, with Tony Pulis refusing to rule out a sale.
10:56 GMT: Borussia Dortmund CEO Aki Watzke believes the ball is in the German champions' court regarding the future of striker Robert Lewandowski. Find out why here.
10:43 GMT: Bologna have confirmed there has been interest from England in 20-year-old defender Frederik Sorensen. "There have been enquiries from Premier League clubs," director Roberto Zanzi told Sport Italia. "We will look at them in more detail in the coming days." Aston Villa and Southampton have been linked
10:25 GMT: Despite some bold reporting elsewhere yesterday that Arsenal forward Theo Walcott had penned a new contract with the club, the BBC's David Ornstein has tweeted that there is no such deal in place: "Walcott has not agreed new deal (yet to make offer & no formal talks) but could happen soon. Walcott wants to stay & football side sorted. If compromise reached on salary & image rights could happen quickly." (@bbcsport_david)
10:11 GMT: West Brom have officially rejected a bid from Queens Park Rangers for defender Jonas Olsson. It's thought the bid is for £5 million but West Brom want £7 million. We're not sure why Olsson would want to go there.
09:59 GMT: AC Milan are set to seal a co-ownership agreement for Empoli forward Riccardo Saponara. You can read the story in full here.
09:47 GMT: Eurosport's Turkish sources are reporting that Inter Milan star Wesley Sneijder has agreed a two-year contract with Galatasaray, worth four million euros each season.
09:31 GMT: Ambitious Nottingham Forest are being linked with two Premier League players this morning. The Telegraph reports Forest want to bring Rob Green in from QPR but his £50,000-a-week wages could be a stumbling block. Manchester City's Belgium international Dedryck Boyata is wanted on loan with a view to a permanent deal.
09:16 GMT: Stoke City boss Tony Pulis has ruled out sharp-shooting striker Michael Owen moving to Australia with Perth Glory. He said: "Michael Owen's got a contract here until the end of the season, and neither us nor him want to change that."
09:02 GMT: Pablo Armero will today have a medical ahead of a loan move to Napoli from Udinese, a deal which will then allow Andrea Dossena to leave Napoli for Palermo.
08:46 GMT: Aston Villa are attempting to sign Phillipe Coutinho from Serie A side Inter according to the player's agent: "I can confirm Aston Villa made an enquiry," Cacau Barbosa said. "They want him but with all due respect for the proposal made to Philippe, at this moment there is still nothing concrete to suggest an exit from Inter."
08:30 GMT: Arsenal were being linked with another raid on Southampton for their 17-year-old defender Luke Shaw, but that deal appears dead after the player signed a new "long-term contract". Sounds like it's a five-year deal.
06:41 GMT: Swansea boss Michael Laudrup has once again denied Michu will be leaving this season, insisting the clubs that are chasing his signature won't be able to afford him.
04:46 GMT: News from the A-League and Central Coast Mariners striker Bernie Ibini will travel to Belgium next week for a trial with Club Brugge. Ibini is the third Mariners player, after Tom Rogic and goalkeeper Mat Ryan, to announce he will be trialling overseas this month.
03:26 GMT: Carlo Ancelotti has vowed to continue his pursuit of Chelsea's Ashley Cole, even if the Italian is forced to leave PSG in the summer.
02:22 GMT: Tottenham manager Andre Villas-Boas suggests he could be forced to look for a striker on a loan deal this month to compensate for the late exit of Emmanuel Adebayor on African Nations' Cup duties.
01:13 GMT: Here's today's transfer round-up from England's newspapers.
Manchester United's tenacity on the field this season has rubbed off on the club's board, with the Red Devils asserting their authority in the transfer window by reportedly offering £12 million for Crystal Palace winger Wilfried Zaha. The figure, reported in the Mirror, includes a number of tempting incentives for Palace that could spur the move this month. United have blown Tottenham and Arsenal out of the race for Zaha with an offer of £8m plus add-ons and a loan back option, allowing Zaha to finish the season with Palace on loan. Sir Alex Ferguson has also promised to offer the Championship side a number of players on loan to boost their hopes of promotion.
It seems daft for a 34-year-old to turn down an offer of £10 million, but Rio Ferdinand has placed loyalty above his bank balance by opening talks to remain at Manchester United. The defender could have made a fortune if he accepted one of the lucrative offers proposed by clubs from the Middle East, MLS and China, according to the Daily Star. Starsport says the Englishman could have earned a staggering £300,000-a-week to move overseas, but he is willing to take a wage cut to remain at Old Trafford.
Kenny Dalglish could make yet another return to Anfield, this time as Liverpool's club ambassador, according to the Telegraph. The Scot left the club in the summer after 18 months in charge and is set to resume the role he filled before taking over the top job from Roy Hodgson in January 2011.
The Sun reports that Sylvain Distin is set to commit his future to Everton, despite growing interest from Sunderland, West Ham and QPR for his signature. The defender is likely to receive a one-year contract extension, joining Phil Jagielka and Seamus Coleman as the latest player to extend his stay at Goodison Park.
He may have just signed a new £32,000-a-week keeping him at Arsenal until 2018, but Carl Jenkinson could be forced out on loan for the rest of the season, the Sun says. The defender hasn't played for the Gunners since December and Arsene Wenger is hoping a loan move will allow him to maintain fitness for next season. Crystal Palace made a play for Jenkinson, but he turned down the Championship side's offer, insisting he would like to stay in the Premier League.