Manchester City left-back Wayne Bridge and right-back Micah Richards are facing the axe as manager Mark Hughes looks to sharpen up his defence.

Chelsea look set to shake off competition from Inter Milan to seal a £40m-plus deal for Atletico Madrid striker Sergio Aguero.

Former Liverpool winger Jermaine Pennant, who is currently with Real Zaragoza, is a target for Aston Villa and Bolton.

Holland defender Gregory Van der Wiel has said he is committed to Ajax despite interest from Manchester City.

Manchester United, neighbours City, Arsenal and Chelsea are all interested in CSKA Moscow's £9m-rated playmaker Milos Krasic.

West Ham's owners have insisted they do not have to sell £10m-rated Matthew Upson in January despite the club's financial problems, although Manchester United may make a bid.

Birmingham City manager Alex McLeish is ready to make a £6m bid for Red Bull Salzburg striker Marc Janko.

Arsenal forward Andrey Arshavin feels that manager Arsene Wenger will need to go on a spending spree to save Arsenal's season.

Wenger looks set to renew his interest in Bordeaux forward Marouane Chamakh but the French side are adamant that the Morroco international will not be leaving in January.

Other players interesting Wenger include Andre-Pierre Gignac of Toulouse, AC Milan's Klaas-Jan Huntelaar, Mario Balotelli of Inter Milan and Sampdoria's Giampaolo Pazzini.

Spartak Moscow's Brazilian striker Welliton could be involved in a swap deal with Tottenham forward Roman Pavlyuchenko.

Hull want to cash in on Crystal Palace's money problems by launching a cut-price £1m move for former Newcastle and Charlton midfielder Darren Ambrose.

League Two side Notts County are targeting former England striker Francis Jeffers who is out of favour at Sheffield Wednesday.

Fears are growing that West Ham striker Carlton Cole may need an operation after a scan revealed serious knee ligament damage.