Arsenal's Welsh international midfielder Aaron Ramsey is set to seal a shock move to Italian champions Juventus.
Italy's Corriere dello Sport newspaper claims Ramsey has also agreed a move to Serie A, but not until the summer.
— UEFA Europa League (@EuropaLeague) 26 December 2018
The 28-year-old, whose contract at the Emirates Stadium runs out in the summer, is set for a four-year deal worth eight million euros (£7m) a year.
Ramsey was signed from Cardiff by Arsene Wenger a decade ago and has scored 37 goals in 251 appearances but he is considered surplus to requirements by manager Unai Emery, who took over at the Emirates in the summer.
He will join Juve on a free transfer and many Gunners fans have taken to social media to berate the club for letting him go.
Tipped for a move the other way — from Turin to England — could be the Brazilian winger Douglas Costa who is reportedly wanted by Manchester United's caretaker manager Ole Gunnar Solskjaer.
United are said to be lining up a £60m bid for Costa, who scored 29 goals in 141 appearances for Shakhtar Donetsk before moving to Bayern Munich and then on to Italy.
United have been seeking a wide player for some time and believe Costa could provide the service which Romelu Lukaku and Marcus Rashford have been lacking this season.
According to Calciomercato, Juventus are willing to let Costa leave in the summer but will resist a move for him in the January window and United's canny chief executive Ed Woodward may be unwilling to get the chequebook out for Costa when a new manager might be coming into Old Trafford in the summer and might not fancy the Brazilian.
Manchester City are also reported to be keen on Costa, who only made a move to Juventus permanent in the summer.
Frenkie de Jong
Ajax Amsterdam are one of Europe's perennial "selling clubs" and have long been a nursery of talent but, since their heyday in the 1970s, most players have tended to move on before becoming international stars.
The club's sporting director Marc Overmars — himself a former Arsenal and Holland star — has reportedly accepted that talented pair Frenkie de Jong and Matthijs de Ligt will be leaving the club in 2019.
Barcelona are said to the favourites to sign the pair, although Paris St Germain have an interest in de Jong and Manchester City boss Pep Guardiola is also said to be "wild" about the 21-year-old midfielder.
Hernandez, better known as Chicharito, has had two spells in the English Premier League.
The pacey Mexican striker scored 37 goals in 103 appearances for Manchester United but became frustrated at a lack of chances in the starting line-up and, after a loan spell with Real Madrid, moved to Bayer Leverkusen for whom he scored an impressive 28 goals in 54 games in the Bundesliga.
West Ham manager Slaven Bilic signed him for £16m in 2017 but was sacked four months later.
Chicharito has scored four goals this season for the Hammers and his form has drawn him to the attention of both Valencia and Real Betis.
Valencia want the 30-year-old to replace Michy Batshuayi, who is due to leave in January after failing to impress while on loan from Chelsea.
Liverpool defender Nathaniel Clyne — who started out with Crystal Palace — has found himself the odd man out as the Reds shot to the top of the English Premier League.
The 27-year-old England right back has returned after a long spell out injured but has found himself behind youngsters Trent Alexander-Arnold and Joe Gomez in the pecking order.
Anfield boss Jurgen Klopp is reportedly willing to let him go out loan to regain match fitness and confidence and former Palace boss Neil Warnock is favourite to sign him, at Cardiff.
Spanish striker Fernando Llorente is expected to leave Tottenham in January, with a deal already agreed with one of Turkey's top clubs, Galatasaray.
Llorente has started just one Premier League game since joining Spurs from Swansea City in September 2017 and recently he was getting fed up of being a squad player.
But Spurs will hope to hold onto him until the end of the month as their South Korean striker Son Heung-Min will be away at the Asian Cup in Australia and Llorente is the only back up to England striker Harry Kane.
Galatasaray are said to have agreed a £1m fee with Spurs for the 33-year-old, who is out of contract at the end of the season.
One deal which is as good as done is Liverpool striker Dominic Solanke's loan move to Crystal Palace.
The 21-year-old joined Liverpool from Chelsea but has found it hard to break into a team which has Mo Salah, Roberto Firmino and Sadio Mane aswell as Daniel Sturridge.
"It's no secret he's a target. What would he do? Provide an attacking threat. He's a proven goalscorer through all the age groups at (former club) Chelsea and England," said Palace manager Roy Hodgson.
"If he comes here, it'll be up to him to show he can do that in Premier League football. He's someone with the profile we're looking for, and the ability we are looking for. We know him better from the England games, and the performances with England," said Hodgson.
Solanke has reportedly turned down a permanent move to Palace's arch-rivals Brighton because he wants to stay at Liverpool long-term and hopes he can impress Klopp during a loan spell and force his way into the manager's reckoning.
Red Bull Leipzig are set to join the race with Bayern Munich to sign Chelsea forward Callum Hudson-Odoi, according to Germany's Kicker website.
Bayern have made a second bid in excess of £20m for the 18-year-old but Leipzig are said to be favourites.
If he moves to the Bundesliga he will follow Jadon Sancho, who left Manchester City to join table-topping Borussia Dortmund and was rewarded with a place in the England team.
Pulisic, a 20-year-old American, has been hunted by Arsenal, Liverpool and Chelsea but the Blues have reportedly won the race to sign the midfielder from Borussia Dortmund, where he has scored 10 goals in 80 appearances.
Tottenham and Arsenal are said to be fighting it out for Roma's Turkish winger Cengiz Under.
Spurs reportedly made a £45million bid as Mauricio Pochettino looked to bolster his attacking options in January but Arsenal now appear to be in the box seat.
The 21-year-old has been one of the bright spots in a poor season for Roma, who know they have to pay 20 percent of his fee to his former club Istanbul Basaksehir.
Everton defender Mason Holgate, who was widely tipped for a move to Fulham, is now said to be likely to join West Bromwich Albion, who were relegated from the Premier League in the summer.
Holgate has had a limited number of appearances for the Merseyside club this season, having featured only six times in all competitions, and manager Marco Silva wants to send him out on loan to give him game time.