Manchester United chase Everton midfielder Jack Rodwell
In 2004, Everton lost Wayne Rooney – their young, prized asset – to Manchester United, and now it seems that history will repeat itself with the Toffees' highly-rated youngster Jack Rodwell.
The 19-year-old midfielder could be the subject of a huge £20 million bid from the Red Devils before the transfer window shuts on Tuesday.
Elsewhere, it's expected that Liverpool will continue to use the Javier Mascherano transfer money for new signings. Raul Meireles has been signed from Porto, while West Ham striker Carlton Cole and Fulham full-back Paul Konchesky are both still firmly in Roy Hodgson's sights.
The Reds could also strike a deal with Bayern Munich for their hit-or-miss striker Mario Gomez before Tuesday's deadline.
And while Wigan have agreed a £2 million deal with Chelsea to take striker Franco di Santo to the DW Stadium, they may have to keep wantaway winger Charles N'Zogbia after talks with Birmingham broke down.
Despite the transfer activity in the north of the country, it's in London where the biggest movers and shakers are set to occur.
West Ham midfielder Scott Parker may have played his final game for the Hammers, with Tottenham still keen to sign the £8 million-rated 29-year-old.
It's believed that Spurs are also desperate to bring in a new striker before the deadline to bolster their chances in the Champions League.
Former Man United forward, Giuseppe Rossi, could be brought to White Hart Lane from Villarreal if manager Harry Redknapp fails to land AC Milan striker Klaas-Jan Huntelaar.
Sevilla's Luis Fabiano is also still in the frame for Spurs, after the Spanish side failed to reach the group stages of Europe's premier competition.
But Tottenham's Robbie Keane is poised to leave the north London club, with Newcastle United just days away from confirming the Irishman as their latest acquisition, following the loan-signing of Hatem Ben Arfa.
Staying in the capital, Arsenal are still looking to sign a goalkeeper with just days before the transfer window closes. Ajax number one Maarten Stekelenburg is a target, but it's believed that he would prefer to stay with the Dutch outfit.
However, Fulham's Mark Schwarzer could still leave Craven Cottage and head to the Emirates Stadium, despite rumours that he'd failed a medical last week.
If Schwarzer does complete his move to Arsenal, then the Cottagers could launch a bid for Reading keeper Adam Federici.
And finally, there's been a huge move on the continent involving one of Europe's most revered strikers.
Barcelona have agreed to let Zlatan Ibrahimovic leave the Nou Camp after just one season, to sign for AC Milan on loan. The former Inter Milan striker is expected to make the move to the Nerazzuri's major rivals on a permanent basis after one season back at the San Siro.
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