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The transfer window is open across Europe as clubs look to do some midseason business. But what are ESPN's reporters hearing about some of the deals that could be done, and which clubs are hoping to make moves?
Every Friday during January we'll bring you the latest updates and insights on the biggest transfer news around.
Manchester United have to raise funds before they can do anything, so who could go?
Manchester United need to improve the club's finances before they do any recruitment in January. The club posted annual losses of £113.2 million for the last financial year in their accounts in September 2024, putting them in the red zone in terms of breaching the Premier League's Profit & Sustainability Rules (PSR).
Marcus Rashford, Casemiro and Antony are all available for transfer this month, and the club will also listen to offers for Christian Eriksen and Victor Lindelöf due to both players being out of contract at the end of the season. The most likely departures are Rashford, Casemiro and Antony; collectively, the three players earn around £700,000 a week, so removing some or all of that figure off the wage bill will enable United to sign players, permanently or on loan, with the money saved.
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But the reality is that United will have to subsidise the salaries of Rashford (£325,000-a-week) and Casemiro (£300,000) to persuade interested clubs into doing a deal. Antony earns a relatively low basic salary of £70,000-a-week, so the Brazil forward will be easier to shift, even though United face a huge loss on the £82m transfer fee paid to Ajax in August 2022.
Interest in Rashford from AC Milan and Borussia Dortmund will only develop if United take a huge hit on his wages -- the prospect of a permanent transfer and getting the 27-year-old off the books completely this month is a dream scenario, but an unlikely one. -- Mark Ogden
One player that has admirers far and wide, with Chelsea among them, is 19-year-old midfielder Kobbie Mainoo. His low wage -- just £20,000-a-week -- makes him even more attractive given Chelsea's model is predicated on signing players on an initial low salary but on a long-term deal with performance-related increases built in.
Chelsea's average wage is around £60,000-a-week so they could make Mainoo a tempting offer with the promise of a lot more to come. However, he is under contract with United until 2027, and there has yet to be any indication that Mainoo wants to leave. Chelsea continue to insist they are compliant with PSR rules, but their headroom is limited and they have more immediate priorities elsewhere, specifically searching for a centre-back. That said, you can never entirely rule anything out where the Blues are concerned. -- James Olley
They really need a left-back...
One of Ruben Amorim's priorities is to find a left wing-back to help him implement his 3-4-3 system, but United sources are playing down the possibility of signing PSG's Nuno Mendes in January. Amorim has problems on the left because Luke Shaw is injured and Tyrell Malacia is still getting up to speed after a long injury. United are assessing options for that position, but it's unlikely to be Mendes. -- Rob Dawson
Mendes and Amorim go back a long way ... the new United manager gave the then-18-year-old his debut for Sporting CP back in 2020. Mendes was a revelation and became a full Portugal international before moving to Paris in 2021 for €60m. However, he is is out of contract in June 2026 and has stopped negotiations over an extension as he likes the idea of being reunited with his former mentor. Nothing will happen in January, according to sources close to PSG, but a summer move could be on the cards.
Another player United like is Bournemouth's Milos Kerkez. The Hungary international, 21, has been excellent so far this season and Bournemouth value his transfer at around €40m. Kerkez has recently changed agents to join Fali Ramadani, one of the best in European football, and United consider him a better option than Mendes, especially because he knows the league already. -- Julian Laurens
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Fulham's USMNT star Antonee Robinson has also been linked ... any interest there?
Robinson is not short of admirers, and he has been frequently linked with Liverpool and Manchester United as they look to bolster their options at left-back. But sources have told ESPN that Fulham will rebuff any approaches for their star defender in January. Robinson was recently crowned U.S. Soccer's Male Player of the Year and is seen as integral to Fulham's plans as they look to move up the table into the European spots.
One source told ESPN that Fulham have no desire or intention to let Robinson go, while another said it's extremely unlikely that he will be tempted away in this window. -- Tom Hamilton
Could Manchester City make three transfers this month?
It's possible, although Man City are privately urging caution because it's hard to get deals over the line in January. There's concrete interest in Eintracht Frankfurt forward Omar Marmoush, Lens' defender Abdukodir Khusanov and 18-year-old Palmeiras centre-back Vitor Reis.
Marmoush, 25, is the most high-profile of those targets but there's an acceptance at the Etihad that Eintracht Frankfurt are going to be resistant to bids for one of their best players while they're third in the Bundesliga table and well-placed in the Europa League.
Khusanov and Reis are both young defenders. City are keen to get deals done in January but -- if agreements are reached -- decisions would have to be made about whether to immediately include them in the first-team squad, as both players are top prospects but with minimal senior experience.
Guardiola needs help now because of injuries to Rúben Dias and John Stones. City are also still chasing a central midfielder, but again it's tough. They retain an interest in Éderson at Atalanta, but it's a difficult deal midseason. -- Dawson
Any update on Liverpool's out-of-contract trio? And could the club make a shock move for Everton defender Jarrad Branthwaite in the summer?
Liverpool's contract crisis continues to loom large, with Mohamed Salah, Virgil van Dijk and -- perhaps most crucially -- Trent Alexander-Arnold yet to put pen to paper on new deals at Anfield. The repercussions of this ongoing saga were evident in Liverpool's 2-2 draw with Manchester United, after which Alexander-Arnold received criticism from fans and pundits alike for his lacklustre display.
While reports in Spain have suggested Real Madrid have not totally abandoned hope of signing the right-back this month, a source has told ESPN that Liverpool are unlikely to sanction an exit in the January transfer window. -- Beth Lindop
Liverpool are planning ahead for their summer recruitment and sources have told ESPN that Branthwaite is high on their list of targets, despite the obvious challenges in persuading him to move to a rival. The 22-year-old was the subject of interest from Manchester United last summer, but Everton's £75m valuation was deemed too high by United, who were only prepared to spend £50m.
Everton are unlikely to drop their valuation of a player who is under contract until June 2027, especially in a deal with their local rivals. No player has left Everton for Liverpool since Portugal international Abel Xavier in January 2002. EFL League Two side Carlisle United are also due to receive 15% of any transfer fee Everton get for Branthwaite's transfer, due to a clause in the deal that saw him move to Goodison Park for £1m in 2020. -- Ogden
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Could Ronald Araújo leave Barcelona this month? And are they looking to move anyone else on to raise funds?
The short answer is yes, he could. The long answer is more complicated. Araújo's preference is to stay at Barça and the club would like to renew his contract but, as is often the case at the club, it is not that simple.
Araujo has just returned from a long-term injury and has seen Pau Cubarsí and Iñigo Martínez strike up a partnership at centre-back in his absence. He is also aware of Barça's interest in adding Bayer Leverkusen's Jonathan Tah to the squad in the summer. Meanwhile, his contract expires in 2026 and, if there is no agreement to renew, the club will look to move him on, if not this month, then in the summer.
In that situation, Araújo would be willing to listen to offers, but would want control over his next move. He won't be forced to the highest bidder by Barça, who need to raise money to invest in strengthening elsewhere. Sources insist there are no firm offers at this stage, despite reports of interest from Juventus and Arsenal, but say there will be meetings to discuss various issues in the coming days.
Frenkie de Jong is in a similar situation to Araujo, with his deal also expiring in 2026, but his future is expected to be decided in the summer as he fights to return to full fitness. Eric García and Ansu Fati are other players who could leave this month, although neither would bring in a massive fee. Barça are also monitoring the futures of Celta Vigo's Óscar Mingueza and Sporting CP's Francisco Trincão as they are due a large percentage of any future transfer the duo are involved in. -- Sam Marsden
Will Real Madrid loan out young star Endrick?
Endrick's first season at Real Madrid since making a €72m move from Palmeiras over the summer has not been what he imagined. A starter in the 5-0 win over Deportivo Minera in the Copa del Rey, the Brazil striker has only played 248 minutes and his limited action has raised doubts about his future.
However, both Real Madrid and Endrick's management team are not considering a loan deal at this stage of the season. The only possibility of a move this month is if the 18-year-old himself asks to leave, which is unlikely.
There is no shortage of interest in signing him, though. Several European teams have inquired with the club about Endrick's situation with a view to a possible loan, but Madrid are holding firm. If he were to depart, Endrick would most likely remain in Europe as a return to Brazil has been ruled out. -- Daniel Bocatto, ESPN Brasil
Will the exit of sporting director Andrea Berta change anything for Atletico Madrid?
The confirmation of Andrea Berta's departure from Atletico after almost 12 years at the club came as no surprise when it was made official this week. An agreement was put in place several months ago, sources told ESPN, after the now former sporting director had seen his powers squeezed following the arrival of Carlos Bucero as director general for football in a restructuring in January 2024.
Berta's time at Atletico, first in the scouting department and then as sporting director, is widely viewed as a success, coinciding with two league titles, two lost Champions League finals and the club's consolidation in the LaLiga top four. He had previously turned down approaches from top European clubs, as he was happy in Madrid. However, more recently there had been some internal disagreement over transfers, and Berta's remit on the footballing side had been reduced to a point that an exit was the inevitable next step.
The impact on Atletico's transfer business will be minimal. The club are expected to be limited in their January movements, with a strong squad already in place. There's more work to do looking ahead to next summer, with a number of senior players, including club captain Koke, out of contract. -- Alex Kirkland
Where will PSG forward Randal Kolo Muani be playing next month?
Kolo Muani has hardly played this season and is ready for a new challenge. He wanted to be successful in his hometown after an €80m move from Frankfurt only 18 months ago, but Luis Enrique is not a fan and for the good of his career, the forward needs to leave. The good news for him is that he has plenty of offers on the table.
A number of Premier League and Spanish clubs are keen on him. Tottenham, Aston Villa, West Ham, Everton, and to a lesser degree Manchester United, have all contacted his entourage and PSG. The 26-year-old France international is keen to play in England and his game would suit the Premier League. Ideally, PSG would like a fee of around €60m, but a loan with an obligation or option to sign permanently could also do the trick. -- Laurens
With their superstar owners, what's going on at Wrexham and Birmingham?
Wrexham's Hollywood owners Ryan Reynolds and Rob McElhenney will be looking to add some attacking power, and though manager Phil Parkinson isn't usually a fan of using this specific window, they will act if the right player becomes available. Reports of interest in Leeds United striker Patrick Bamford are wide of the mark as things stand, but Wrexham are in the market for a striker or two.
Meanwhile Birmingham, who boast minority owner NFL legend Tom Brady, are closing in on the signing of Hannover 96 right-back Phil Neumann. The club are in the market for cover at left-back after Lee Buchanan picked up a serious injury, while they are looking for cover on the wings and have also been linked with a move for USMNT international midfielder Lennard Maloney, who plays for Heidenheim. -- Hamilton
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Any other interesting deals in the works?
- The big one is Khvicha Kvaratskhelia. Napoli are no further forward on contracts talks (he's on his original deal, which is puny) so the club are biting the bullet and listening to offers. PSG, who had been linked before, are likely to be in the mix, but other clubs should come forward in the coming days. Napoli want to avoid a situation like they had with Victor Osimhen and are willing to move him on now. -- Gab Marcotti
- Keep an eye on Yoane Wissa at Brentford. He's having a fantastic season, with 10 goals from 17 games so far, and the Bees wouldn't want to let him go, but there's tentative interest from Saudi Arabia. The Saudi market is set to be relatively quiet in January because almost all the spots for foreign players over the age of 21 are filled. But if players can be moved on, there might be one or two slots available, and Wissa is one of the names being talked about. -- Dawson
- Now that West Ham have hired Graham Potter, the club could move for Chelsea's out-of-favour left-back Ben Chilwell. Wages would be a potential issue, with Chilwell earning around £200,000-a-week, and whether he would take a pay cut to revive his career remains to be seen. -- Olley
- Liverpool winger Ben Doak could leave on a permanent transfer this month after the club already rejected offers from Ipswich Town and Crystal Palace. Liverpool value his transfer around the £30m mark and would accept a bid in this region. -- Lindop
- Chelsea's women are hoping to agree new contracts with defender Millie Bright and midfielder Erin Cuthbert, but are still on the hunt for another midfielder to bolster the side in January. -- Emily Keogh
- River Plate have been the star club in the Argentine transfer market so far. In one week, the club have signed Martínez Quarta from Fiorentina, Matías Rojas from Inter Miami, Giuliano Galoppo from Sao Paulo, Enzo Pérez from Estudiantes, and Gonzalo Tapia from Colo Colo. Sevilla full-back Gonzalo Montiel is their next target and they are also looking to sign one or two forwards, with Austin FC's Sebastián Driussi on the shortlist. -- ESPN Argentina
- Botafogo's Luiz Henrique has three offers to leave the club and return to Europe. The 24-year-old played for Real Betis in Spain (2022-2024) but returned to Brazil last January. French giants Lyon, who are owned by American businessman John Textor alongside Botafogo, are interested. Serie A side Fiorentina had an offer turned down in December last year and are still keen, while two unnamed Premier League clubs are also keeping tabs on the situation. Textor has a stake in Crystal Palace, but the London team are not in the running to sign Luiz Henrique. -- Roberta Barroso, ESPN Brasil
- Liga MX side Chivas are looking to add another striker after signing Alan Pulido from MLS and have sounded out AC Milan's Luka Romero, who is on loan at Deportivo Alaves. The Argentina U20 international forward has only played six games in LaLiga so far. -- Jesús Bernal, ESPN Deportes
- Mexico international winger César Huerta flew to Belgium on Wednesday ahead of signing with Anderlecht. Huerta spoke with reporters ahead of his flight and stated the move that could open more doors for Mexican players is a "great responsibility." -- Cesar Hernandez
- The agents of former Real Madrid and Bayern Munich midfielder James Rodriguez have been in contact with the board of León de México to discuss a possible move. León are looking to convince the Colombia international to sign with the chance to play in the Club World Cup next summer. Several clubs in South America and MLS have approached the 33-year-old to ask about his salary expectations, but so far they have not been able to seal an agreement. -- ESPN Deportes
Source: espn.co.uk