Man Utd Launches Stunning €80M Midfielder Raid as Salah Shocks Liverpool with Dramatic U-Turn
Sports Illustrated compiles the most recent transfer speculation and rumors from across the globe.
Premier League

Liverpool have submitted an offer worth €60 million (£52.5 million, $70.3 million) in an attempt to acquire Tottenham Hotspur's midfielder Lucas Bergvall during the January window. (Source: Fichajes)
Manchester United are prepared to spend €80 million (£70.1 million, $93.7 million) to secure Como's midfielder Nico Paz, who is set to return to Real Madrid this summer for merely €10 million but could then be sold for substantial gains. (Source: Defensa Central)
Arsenal have made Gabriel Martinelli available for transfer, with plans to propose the Brazilian winger to Turkish powerhouse Fenerbahçe. (Source: Sercan Hamzaoğlu)
Chelsea's goalkeeper Filip Jörgensen is unhappy with his backup position and intends to depart the club in 2026. The Blues remain "genuinely interested" in AC Milan's Mike Maignan and are contemplating an attempt to secure him as a free agent next summer. (Source: TEAMtalk)
Arsenal, Chelsea and Man Utd are all pursuing Atalanta's right-back Marco Palestra, though his impressive displays while on loan at Como have drawn competing attention from Atlético Madrid, Barcelona and Bayern Munich. (Source: CaughtOffside)
West Ham United are exploring a January move for Wolverhampton Wanderers' striker Jørgen Strand Larsen, hoping to secure him on a permanent basis. (Source: The Athletic)
Manchester City are targeting 17-year-old Leeds United forward Harry Gray, sibling of Tottenham's midfielder Archie, in a transfer that could reach £40 million ($53.5 million). (Source: Alan Nixon)
However, one player who won't be moving to Man City is Newcastle United's midfielder Bruno Guimarães. Despite speculation about a potential exchange involving goalkeeper James Trafford, the Brazilian has no desire for a January exit from St James' Park. (Source: Chronicle Live)
Potentially departing Man City could be forward Omar Marmoush, who is anticipated to receive an opportunity to join Atlético Madrid on a temporary basis. (Source: Fichajes)
Aston Villa are willing to retain loan winger Jadon Sancho through the season's conclusion, though agents are investigating alternative destinations for the Man Utd player. (Source: TEAMtalk)
Mohamed Salah has engaged in reconciliation discussions with Liverpool boss Arne Slot. Both sides have committed to setting aside their disagreements and collaborating until season's end, after which a departure from Anfield appears probable. (Source: Football Insider)
La Liga

Real Madrid have made an unexpected move to acquire Man City's defender Abdukodir Khusanov on loan for the season's remainder. (Source: Fichajes)
Another Man City defender, Joško Gvardiol, is desired by the opposing side of the Clásico rivalry. Barcelona view the Croatian international as an ideal target for 2026. (Source: Mundo Deportivo via Sport Witness)
Rodrygo currently wishes to remain at Real Madrid after securing an expanded role under manager Xabi Alonso, despite interest from Bayern Munich, Liverpool and Man City monitoring the Brazilian forward. (Source: Defensa Central)
The New York Red Bulls have entered the race alongside Chicago Fire for Barcelona's striker Robert Lewandowski. (Source: Fichajes)
Real Madrid have presented Víctor Valdepeñas with a new contract featuring a release clause exceeding €50 million (£43.8 million, $58.6 million) to ward off Arsenal's interest. (Source: AS)
Real Madrid have identified Borussia Dortmund's Nico Schlotterbeck as their primary center-back objective, with Tottenham's Micky van de Ven serving as the secondary option. (Source: Defensa Central)