LIVE Transfer Talk: Real Madrid to beat Man City to £90m Paulo Dybala

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: Real to fight Man City for Dybala

Real Madrid are hoping to defeat Manchester City in the race to sign Juventus forward Paulo Dybala and are ready to splash £90m on the Argentina international, reports the Sun.

Los Blancos have been desperate to fill the Cristiano Ronaldo-shaped vacuum in their attack ever since the Portuguese superstar's move to Turin and have identified his current teammate as the ideal replacement.

The 25-year-old boasts an impressive 54 goals in 115 Serie A appearances and, with Aaron Ramsey set to grace the Allianz Stadium next season, the Old Lady are believed to be open to the idea of cashing in on one of their prized assets.

If Madrid managed to secure their latest Galactico, it would deal a huge blow to Pep Guardiola, who is supposedly a keen admirer of the ex-Palermo attacker. And would also send a bit of a message to the upstarts of Juve over just who wields the power in the transfer market these days.

LIVE BLOG

12.10 GMT: Borussia Dortmund will soon have a Christian Pulisic-shaped hole to fill when the American leaves for Chelsea in the summer. But how will they fill it?

Bild reports that Crystal Palace winger Wilfried Zaha is the man they want to step into Pulisic's shoes. It was only six months ago when reports claimed Palace wanted a swap deal with Zaha and Jadon Sancho. That certainly isn't going to be happening now!

11.55 GMT: Paris Saint-Germain have not yet made a bid for Napoli midfielder Allan, although the Serie A club's president Aurelio De Laurentiis has told RMC Sport that he is open to talks.

"I've not received an offer, but we're good friends and both clubs are always talking about other opportunities," De Laurentiis said. "If there's an opportunity, we'll have to see. We always buy players because we want to keep them, but if there is a situation which makes sense for both clubs, then we will have to see. I never talk money."

De Laurentiis is reported to be wanting in excess of €100m for the midfielder, who joined them for €12m from Udinese in 2015.

11.31 GMT: Gonzalo Higain's move to Chelsea gets ever closer...

Sources have told ESPN FC that the striker left Linare airport in Milan at 8 a.m. local time and landed at Farnborough airport (less than an hour's drive to Chelsea's training ground in Cobham) around 9 a.m. GMT. Given that medicals generally take a couple of hours to complete, it's touch and go whether he'll be registered in time for the Spurs game on Thursday. They have 30 minutes to get it done by 12.00 GMT today.

11.30 GMT: David Beckham has become the latest former Manchester United player to invest in Salford City, taking a 10 percent stake in the club alongside Ryan Giggs, Paul Scholes, Nicky Butt and the Neville brothers.

Salford, third in the National League, are one step away from the Football League after winning three promotions in four years since being taken over by the Class of 92 and Singapore businessman Peter Lim in 2014.

And former England captain Beckham has been confirmed as a part-owner, which sees the Class of 92 -- Beckham, Giggs, Scholes, Butt and the Nevilles -- own a controlling 60 percent stake in the club. Beckham is also joint-owner of Inter Miami CF, who will play in Major League Soccer in 2020.

11.22 GMT: Fenerbahce are interested in loaning Chelsea winger Victor Moses, sources have told ESPN FC, but are yet to reach an agreement.

Fenerbahce sporting director Damien Comolli has been in London working on transfers but the club are constrained by Financial Fair Play in January and Moses is reportedly reluctant to leave England.

However, the Nigerian has found himself struggling for playing time since the appointment of Maurizio Sarri over the summer -- playing just 176 minutes of first-team football this season and being left out of the squad that lost 2-0 against Arsenal last weekend.

11.12 GMT: Brescia midfielder Sandro Tonali suggests he would be keen on a move to AC Milan, although he insists he is not thinking of a move just yet.

"I'm just thinking of this season with Brescia and not the future and all the names I'm being linked with," he told Sky Sport Italia. "I want to finish this season in the best way possible, but all I can say is that I'm honoured to be linked with big clubs and it makes me realise what progress I'm making. For me it would be a huge pleasure [to be coached by Gennaro Gattuso] -- it's something I've dreamed of since I was a child. I've always been a Milan fan and he's my inspiration."

10.52 GMT: Denis Suarez looks set to remain at Barcelona until the end of the season after talks regarding a move to Arsenal broke down on Tuesday, sources close to the player have told ESPN FC.

Arsenal were keen to sign Suarez, who is in the final 18 months of his deal at Camp Nou, but have been unable to reach an agreement with Barca.

Barca want around €20m for the midfielder, while Arsenal prefer a loan. The Catalan club would be open to loaning Denis until the end of the season, but only if any prospective deal included an obligatory option to buy in the summer.

10.34 GMT: Albacete have confirmed their Spanish midfielder Jon Erice is leaving the club to join MLS side Vancouver Whitecaps FC.

A regular starter for Spanish second tier Albacete since arriving at the club in the summer of 2017, the 32-year-old will head to Canada and a club statement said: "Albacete Balombie and Jon Erice have reached an agreement to end the player's contract with our club, the player will begin a new personal and professional challenge with Vancouver Whitecaps FC of the Major League soccer. The club accepted the petition made by the player a few days ago to leave the club in order to accept the offer which he considered important in view of his future sporting career. We wish the player the best of luck in his new professional career."

10.16 GMT: Valencia-bases sports newspaper Superdeporte report that Genoa have joined in the race to sign Chelsea striker Michy Batshuayi.

According to the publication, Genoa are on the verge of selling their forward Krzysztof Piatek to Milan for a reported €35m and are keen to strengthen their attack. However, the Serie A outfit are only prepared to acquire the player on loan with no purchase option included in the deal.

Batshuayi, who is on a season-long loan at Valencia from Chelsea, is expected to leave the La Liga side this month and Everton are also keen to sigh him, although the Belgium international's preferred choice is to join Monaco.

10.04 GMT: Staying with PSG, Tuttosport report that Torino could take Jese Rodriguez on loan from the French side with an option to buy him at the end of the season and also pay 60 percent of his wages.

10.01 GMT: PSG goalkeeper Kevin Trapp tells beIN Sports about his return to Eintracht Frankfurt on loan and suggests he wants to stay: "I already knew Frankfurt like a home. I had always said that I would return to Frankfurt if I could. I had several other offers, but they were not as attractive. We had good discussions, particularly about our objectives. I have followed the club since I left, and it has developed over the past two or three years."

09.50 GMT: Reported Arsenal and Newcastle target Gelson Martins is seriously considering leaving Atletico Madrid this month, sources close to the player have confirmed to ESPN FC.

The transfer could free up space on the Atletico Madrid wage bill to help them sign Alvaro Morata from Chelsea as, under La Liga's strict financial fair play rules, Atletico must move on at least one player in January if they are to bring in Morata, either on loan or a permanent deal.

Sources told ESPN FC that it was "normal" for Gelson to be listening to offers from other clubs given he was "playing little" [just three starts all season], while suggesting that a loan deal was more likely than a permanent transfer given his contract with Atletico runs to 2023.

- See how Rumour Rater rates the likelihood of the deal.

09.31 GMT: Matio Balotelli is due to undergo a medical at Marseille on Wednesday ahead of signing a six-month deal with the club, L'Equipe reports.

The Italy striker, whose contract with Nice has been ended by mutual consent, will earn up to €4m, the paper says citing a source.

09.15 GMT: Barcelona are reluctant to say a deal is done for Ajax's Frenkie de Jong after Antoine Griezmann's late snub last summer but they are "increasingly optimistic" of getting the transfer over the line, sources have told ESPN FC.

08.50 GMT: Juventus coach Massimiliano Allegri appears to have played down talk of a move for Manchester United full-back Matteo Darmian by saying that Leonardo Spinazzola will not leave the club.

"He's a Juventus player and he's staying here," Allegri told reporters.

Spinazzola has been linked with Bologna and the arrival of Darmian is considered dependent on his departure.

08.10 GMT: Chelsea's proposed loan deal for Argentina striker Gonzalo Higuain is taking longer than expected to be wrapped up, but the wheels might be turning now as AC Milan move closer to bringing in a replacement.

Krzysztof Piatek has reportedly arrived in Milan for a medical ahead of a move to from Genoa, for a €35m move. Negotiations were reported to have gone on until well into the early hours following Milan's win at Genoa on Monday night, but an agreement has been reached and the Poland international could make his debut against Napoli at the weekend.

That, in turn, would allow Milan to end Higuain's loan from Juventus, freeing up his path to Chelsea.

However, if the Premier League side want him in their squad for tomorrow's Carabao Cup semifinal second leg against Tottenham, they will need to have him registered as their player by 12.00 GMT today.

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ESPN FC's Julien Laurens reveals the latest on Barcelona's efforts to land Ajax youngster Frenkie de Jong.

PAPER TALK (Charlie Brooke, Football Whispers) Barcelona win race to sign De Jong

After months of speculation surrounding the future of Ajax starlet Frenkie de Jong, it appears there is finally light at the end of the tunnel, pointing directly toward the Camp Nou.

Catalunya Radio reports that Barcelona is the preferred destination for the young Dutch international, despite fervent interest from French giants Paris Saint-Germain.

The 21-year-old's agent is reported to have informed Manchester City, Juventus and PSG that his client intends to become a Barca player. The Catalan club are desperate to finalise the deal and will send club delegates to Amsterdam on Wednesday to secure De Jong's signature.

The transfer is likely to command a £66 million fee, with Los Cules hoping to make the transaction in three instalments. De Jong has made 16 appearances for Ajax in the Eredivisie this season, scoring three goals, as well as playing five games in the champions League.

Arsenal eye audacious move for Monchi

With Sven Mislintat's imminent departure from his role as head of recruitment, Arsenal are accelerating their restructuring plans and have pinpointed Roma sporting director Monchi as their main target for the technical-director position, according to the Independent.

The Spaniard joined the Italian club only in April 2017, signing a four-year contract, but it appears increasingly likely that a deal could be struck with the Gunners.

Monchi is highly regarded throughout world football for his scouting ability, having excelled at Sevilla, where he signed and then sold (for a huge profit) the likes of Dani Alves, Ivan Rakitic and Julio Baptista.

Bringing in the Roma chief would represent a major coup for Arsenal, who hope to make the most of Unai Emery's relationship with the 50-year-old transfer guru, given the pair coincided during the Basque coach's fruitful three-year spell at the Ramon Sanchez Pizjuan.

United block Arsenal move for Bailly

Manchester United have rejected an inquiry from Arsenal to take Eric Bailly on loan for the rest of the season, according to the Daily Mail.

The Ivorian centre-back has started just once in Ole Gunnar Solskjær's seven games in charge, in which he was shown a straight red for a reckless challenge.

Arsenal boss Emery is eager to sign a defender after losing Rob Holding and Hector Bellerin to injury, and he has targeted the 24-year-old United man as a viable solution. However, the Red Devils are loathe to sell to a direct rival, with the two sides set to do battle in the FA Cup on Friday night.

Football Whispers' top emerging whispers

Football Whispers' transfer algorithm gives the likelihood of rumours happening a score out of 5.

Hector Herrera to Atletico Madrid: 3.5

Atletico Madrid would welcome the opportunity to add Porto's Mexican midfielder Herrera to their ranks on a free transfer this summer, according to Mundo Deportivo. It is believed that the 28-year-old is reluctant to sign a new contract with the Portuguese club and, despite interest from Los Rojiblancos, might well have his heart set on a move to Inter.

Allan to Paris Saint-Germain: 3.2

Napoli midfielder Allan is attracting interest from French champions Paris Saint-Germain, reports La Gazzetta dello Sport. The Brazilian maestro would add even more depth and quality to a side hardly bereft of talent and, although the Italian club initially set the asking price at £88m, owner Aurelio De Laurentiis might well be tempted by an offer in the region of £70m.

Isco to Inter: 3.2

Ever since the arrival of Santiago Solari at the Real Madrid dugout, Isco has found his minutes significantly reduced and remains on the fringes at the Santiago Bernabeu. The 26-year-old Spain international is one of the most sought-after stars in world football and, according to Tuttosport, Inter Milan have now joined the race for his signature. The Italian club would need to stump up at least £88m for the former Malaga man and also fend off the likes of Juventus, Man City, Chelsea, Liverpool, Arsenal and Bayern Munich.

Duvan Zapata to West Ham: 2.4

Zapata hit the headlines at the weekend after bagging an astonishing four goals in Atalanta's 5-0 rout of Frosinone and is rumoured to be wanted by West Ham. Italian media outlet Tuttosport reports that the Hammers have seen a £35m bid rejected for the Colombia international, who has netted 14 goals in his past eight games. Zapata is leading the way in the Serie A scoring charts alongside Ronaldo and Fabio Quagliarella.

Miguel Almiron to Newcastle United: 3.0

This rumour just refuses to go away, and with only nine days left of the January transfer window, Newcastle United's offer for Atlanta United star Almiron remains on the table, according to the Newcastle Chronicle. The Magpies are understood to have offered around £16m for the Paraguay international, who has managed 22 goals and 21 assists in 70 appearances for the MLS Cup champions.