LIVE Transfer Talk: Arsenal willing to pay Mesut Ozil to leave the club

The transfer window for Europe's biggest clubs is open again. Transfer Talk has been scouring the world's media and setting our correspondents loose to see who could be heading to/out of your club this month.

TOP STORY: Ozil out, whatever the cost

Arsenal are willing to pay some of Mesut Ozil's wages after he leaves the Emirates if that would make a potential move more likely, according to the Mirror.

Just one year ago, the German signed a new contract that made him the club's highest-earning player on £350,000 per week, and it's not surprising that that eye-watering sum is putting off clubs.

There has been interest from China and loan interest from Inter Milan, but with Unai Emery seemingly not a fan and the wages proving burdensome, Arsenal look like they're getting desperate.

LIVE BLOG

09:45 GMT: In times of transfer windows, fans will look to anything as a sign of movement -- especially when it's concerning a high profile agent.

And Inter Milan fans have been left concerned after Mauro Icardi's wife and agent, Wanda Nara, posted a picture of herself by a private jet on Instagram, with the cryptic caption: "While you're waiting for something that will never happen, appreciate what is waiting for you."

Icardi has not entered contract talks with Inter as yet but, with so many high profile clubs looking for a new forward, the prolific Argentina international will be a key protagonist in this and the summer transfer window.

Wanda's post gives little away -- but it wouldn't be the transfer window if fans didn't go into meltdown over something as cryptic as this, would it?

09.20 GMT: La Liga president Javier Tebas believes Atletico Madrid would have to sell a player in order to have any chance of signing Chelsea forward Alvaro Morata in the winter transfer window.

"In order to sign Morata, Atletico has to let a player leave," Tebas told Cadena Cope. "They are very limited financially due to the wage cap."

08.30 GMT: Real Madrid goalkeeper Kiko Casilla is reportedly close to leaving the Bernabeu for England, to sign for Championship club Leeds United.

Leeds are looking for a goalkeeper in the winter transfer window and, according to AS, the club sporting director Victor Orta has convinced Madrid to allow the 32-year-old Casilla to leave the club as a free agent.

Casilla missed Tuesday's training and Madrid did not give any information as to why the Spaniard was absent from the session. The deal is expected to be completed today, with Casilla set to undergo a medical before signing a new contract with the Marcelo Bielsa's side.

Since Thibaut Courtois signed for Madrid this summer, Casilla has only sat eight times on the bench in 31 games Los Blancos have played this season. He is the only player in the squad that has not played a single minute. In his three-and-a-half seasons at Madrid, he has played 43 games, giving away 50 goals and keeping 15 clean sheets.

PAPER TALK (by Mark Thompson, Football Whispers) Spurs might take a lesson in trapping attackers

Arsenal might be hoping their creative attacking midfielder leaves, but their North London rivals are hoping theirs stays. However, Christian Eriksen is unlikely to sign a new contract with the club, Spanish outlet AS reports.

Instead, the Denmark international is likely to join Real Madrid, with the £100 million mark being discussed by the two clubs. It won't be in January, though, particularly now that Harry Kane is out until March with an ankle injury.

Better Cech your coaching availability

Chelsea could offer Petr Cech a new (but at the same time old) home after his announcement that he is to retire at the end of the season, the Times reports.

The Arsenal and former Chelsea goalkeeper posted a tweet Monday announcing the news, but the doors of Stamford Bridge are open for him to return as a goalkeeping coach.

The club have reportedly kept in close contact with the shot-stopper since he left for Arsenal four years ago and would like to welcome him home in a coaching or ambassadorial role.

Morata Madrid move might be muddled

Alvaro Morata's desire to leave Chelsea could have hit a snag. Atletico Madrid don't want to buy him outright, the Daily Mail reports.

Atletico, the club where Morata started his youth career, had been linked with a move for the 26-year-old but are interested in bringing the striker in on only a short-term loan.

To add to the Spaniard's transfer problems, Sevilla reportedly pulled out of the race to sign him on Monday, citing other big clubs who had joined the fight as an obstacle.

Javier Hernandez to Valencia: 4.5

Personal terms have been agreed between Hernandez and Valencia, according to Marca. West Ham are holding out for a mega offer to let him go in January. Otherwise, the move will go through in the summer.

Julian Weigl to PSG: 4.0

Thomas Tuchel wants to be reunited with his former player Weigl, Le Parisien reports. Weigl is still only 23 but has made only four appearances in the league this season under new manager Lucien Favre.

Malcom to Tottenham: 2.6

Now that Tottenham have confirmed that Kane will be out with ankle ligament damage until March, the Daily Star has reported that the London club might turn to Barcelona winger Malcom to add some more attacking threat. The 21-year-old's time at the club has not quite worked out since he joined from Bordeaux in the summer, and he has made only five appearances in La Liga.

Mario Balotelli to Genoa: 2.1

Italian outlet Mediaset is reporting that Balotelli could be a domino in a chain. If AC Milan's Gonzalo Higuain joins Chelsea and Milan turn to Genoa's Krzysztof Piatek, then Genoa might turn to Balotelli to fill the gap in their forward line.

Cengiz Under to Manchester United: 1.9

As ESPN FC reported, United have joined the race to sign the Roma winger. The 21-year-old won't be leaving Italy this January, but his representatives are preparing a summer move, and Old Trafford could be a landing place.