Arsenal are set to make an opening player-plus-cash offer for Borussia Dortmund star Pierre-Emerick Aubameyang, according to reports.
The Evening Standard claim the Gunners will offer Olivier Giroud and £35m for the Gabon international, who they see as a replacement for Chilean star Alexis Sanchez.
Aubameyang has netted 21 goals in 24 appearances for Dortmund this season, but was left out of their squad at the weekend after missing a team meeting.
The pacey forward has previously asked to leave the Westfalenstadion on two occasions, and some reports in Germany suggest he did for a third time over the weekend.
Burnley are reportedly interested in Brighton and Hove Albion winger Solly March.
The Daily Mail claim the Clarets are even lining up a £10m bid for the 23-year-old, who has netted once in 24 appearances for the Seagulls this season.
Sean Dyche's side have signed Tottenham Hotspur winger Georges-Kevin Nkoudou already this month, but with Robbie Brady out with a serious knee injury, the boss is said to be keen on another wide man in January.
Brighton are thought to be keen on keeping the youngster, however.
Newcastle United striker Dwight Gayle has been linked with a move to Championship side Fulham.
The Chronicle report that the Cottagers will come to Newcastle with a big-money offer for the forward - thought to be around £15m - should they sell creative midfielder Tom Cairney to West Bromwich Albion .
Gayle netted 23 goals in the second tier last year, firing Rafa Benitez's men to the title.
But the ex-Peterborough man has made just 12 starts for the Geordies this month, with Spaniard Joselu preferred up top.
Finally, Everton have completed the signing of Theo Walcott from Arsenal .
According to the Daily Star, the winger is now an Everton player having signed on the dotted line for a reported £20m fee.
Although neither club has confirmed the deal, the paper claims the official announcement will be "imminent".