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LIVE Transfer Talk: Spurs want Bale, Dortmund's Alcacer and Gotze

It's go time as the January transfer window is open. Find out when it closes across Europe, view the latest transfers as they happen and keep up to date with the newest gossip below.

TOP STORY: Spurs want Bale return, Dortmund duo 

Could Gareth Bale be returning to Spurs this week? According to the Daily Express, the North London side are interested in luring him back from Real Madrid in need of a creative spark. 

But that's only the start of Jose Mourinho's transfer ambitions. The Portuguese manager is reportedly keen on up to three targets as the window enters its final week. The other players catching Mourinho's eye are Borussia Dortmund duo Paco Alcacer and Mario Gotze.

Nonetheless, the signing of Bale would be the one to raise pulses most quickly. That said, coming up with a deal to match his current £650,000-a-week contract -- which runs until June 2022 -- is a sizeable stumbling block.

A loan for the player has already been ruled out but with Madrid apparently set to do business and Spurs equally hungry to bring him back, a permanent deal isn't out of the question.

LIVE BLOG

22.37 GMT: So long as Leicester can find a replacement, 22-year-old centre-back Filip Benkovic will join Championship side Middlesbrough on loan for the remainder of the season, according to the Mail.

22.10 GMT: Calciomercato writes that Fenerbahce and AC Milan have come to an agreement that would see left-back Ricardo Rodriguez move to Istanbul on loan with an obligation to purchase the 27-year-old in the summer for €6m, but there's just one problem: the Turkish side still haven't submitted a formal offer.

21.43 GMT: Having just lost one promising teenager from London in Chelsea's Conor Gallagher, after the Blues cut short the midfielder's loan, Charlton Athletic are keen on a second, in the form of Tottenham's highly rated 17-year-old striker Troy Parrott, the Mail reports.

21.16 GMT: AC Milan and Sevilla are in negotiations over a deal for Suso, according to Gianluca Di Marzio, that would take the 26-year-old playmaker to La Liga on loan for 18 months with an option for the Andalusian club to make the deal permanent - becoming an obligation to buy should certain objectives be met.

20.49 GMT: Major League Soccer sides Sporting Kansas City and Nashville SC are interested in signing 21-year-old West Ham defender and New Zealand international Winston Reid, the Mail writes.

20.22 GMT: PSV Eindhoven forward Steven Bergwijn is set to sign for Tottenham, sources have told ESPN. Sources said he did not make himself available for PSV's match with Twente on Sunday and instead travelled to England to finalise a deal.

19.55 GMT: Italian transfer guru Gianluca Di Marzio reports that Christian Eriksen will arrive in Milan on Monday to undergo a medical and sign for Inter following the Nerazzurri's €20m agreement with Tottenham for the 27-year-old playmaker.

19.28 GMT: The New York Red Bulls have rejected an offer from West Ham that would see the Premier League club take U.S. international centre-back Aaron Long on loan for the remainder of the season for a $500,000 with an option to buy the 27-year-old for $4.5m in the summer, according to Sky Sports.

19.01 : PSG and Atletico Madrid are getting close to an agreement regarding the transfer of striker Edinson Cavani, sources have told ESPN. The deal is not complete but all parties are optimistic that it will be done in the next couple of days.

18.34 GMT: Marca reports that Barcelona have reached an agreement to loan winger Carles Perez to Roma this month. The deal includes a clause where the Serie A club would be obliged to sign the 21-year-old on a permanent contract for €13m. Despite the agreement between the two clubs, Perez is yet to decide whether he wants to move to the Italian capital.

17.11 GMT: Robin van Persie has said that Vincent Kompany attempted to talk him out of retirement and sign for Belgian side Anderlecht. Despite van Persie spending three years with Manchester United, which included a league title in 2013, Manchester City legend Kompany was still determined to change the Dutchman's mind in his testimonial match in September.

"After 70 minutes I started getting pain everywhere, but I didn't want to leave that field," he told HLN. "The next day Kompany called me. He was convinced that I could help him with Anderlecht. I saw it as a nice compliment that he approached me, but I woke up that morning with pain in my calves and knew that I should not start it [playing] anymore."

15.52 GMT: Gazetta dello Sport claims Everton are close to agreeing a deal for Inter Milan midfielder Matias Vecino. New boss Carlo Ancelotti is reportedly a fan of the Uruguay international and he looks set to join the Merseyside club for €20m. The report claims Inter will sanction the deal once they sign Olivier Giroud from Chelsea.

14.23: GMT: Tottenham have set their sights on PSV forward Steven Bergwijn, according to De Telegraaf. The 22-year-old is set to miss the match with FC Twente this afternoon amid speculation that Spurs are looking to complete a deal for the winger.

This follows a report from Mundo Deportivo that claims Spurs are no closer to tying up a deal for Real Sociedad forward Willian Jose. There is expected to be news regarding the situation on Monday morning but both clubs are still reportedly still apart in terms of a potential fee. Spurs have offered the player a four-and-a-half-year deal.

13.37 GMT: It's another transfer update Manchester United fans... but this time it does not involve Bruno Fernandes.

The Metro claims Ole Gunnar Solskjaer is interested in signing Leicester City defender Ben Chilwell this month. The England international is reportedly worth £50m and United will face little opposition for his signature given that rivals Manchester City are unwilling to match his asking price.

The report also says United would listen to offers to sell Luke Shaw who has seen himself fall down in the pecking order at the club behind teenager Brandon Williams.

12.11 GMT: Tottenham will face stern opposition from Newcastle United in their bid to sign Borussia Dortmund striker Paco Alcacer, according to the Sun. The report claims Steve Bruce is looking to sign the former Barcelona forward on loan this month before acquiring him on a permanent deal worth £25m in the summer.

11.01 GMT: Oh look, it's another Bruno Fernandes update! But it's not very exciting, I'm afraid... A Bola in Portugal reports that the two clubs continue to haggle over the fee with no agreement in sight. Manchester United have offered €50m, but Sporting CP want €70m -- and there's a snag with the player's agent, Miguel Pinho, wanting €5m.

10.28 GMT: Could Chris Smalling make his move from Manchester United to AS Roma permanent? According to The Sun, there's a battle on over the player's valuation with United demanding £25m. Smalling has had an excellent season on loan in Rome, but Roma have so far only offered an initial £13m with another £3.5m in add-ons.

10.04 GMT: A report in Sport in Spain says Barcelona are ready to go all-in to sign Rodrigo Moreno from Valencia. Barca want to bring the striker in on loan, with an option to buy, with Luis Suarez ruled out for the season. Valencia want it to be an obligation to buy, which is the sticking point. Moreno is at the top of the wanted list after interest in Arsenal's Pierre-Emerick Aubameyang cooled.

09.30 GMT: The clock is ticking on the transfer window. Will any manager splash the cash in the final days? Will Arsenal get a defence? Will Manchester United sign anyone? Does Bruno Fernandes really exist? Stick with us.

PAPER ROUND

PSG reach out to Aubameyang 

With Edinson Cavani nearing his move from Paris Saint-Germain to Atletico Madrid, the French league champions have their eyes on Arsenal forward Pierre-Emerick Aubameyang.

According to Footmercato, PSG representatives have met with Aubameyang's camp about a possible move back to Ligue 1.

Prior to joining the Gunners and previous club Borussia Dortmund, the French-born Gabon international played for several top-division clubs in his country of birth.

The developments with Aubameyang come on the heels of PSG's interest in two other playmakers -- Islam Slimani of AS Monaco and Luka Jovic of Real Madrid. 

Newcastle eye £200m shopping spree

Rumours surrounding a potential takeover of Newcastle United by well-heeled Saudi investors perked up again on Saturday -- with reports that the sale would come with a considerable transfer war chest.

And the Sun reports that the club could soon have £200 million to plough into strengthening a threadbare squad. Whether that's enough to see the Toon challenging for major honours anytime soon is anyone's guess but when you've had over a decade of Mike Ashley then anything's possible.

Saudi Arabia's sovereign wealth fund -- which is headed by Crown Prince Mohammad bin Salman -- have apparently renewed discussions with Ashley over a deal for the club. And now Newcastle fans are salivating at a return to the day when the club routinely challenged for silverware. That said, no formal bid has been submitted.  

Tap-ins

Marcos Rojo is keen on a move back to Argentina, with loan move to Estudiantes his most likely exit route from his Manchester United misery. The Daily Mail reports that the 29-year-old misfit has been in contact with the club's chairman, who has wasted little time in telling Rojo that the best chance of rebuilding his career is by heading back home. The defender agrees and wants something sorted by next week. 

- Spurs and Aston Villa have pulled the plug on their interest in Fulham's Aleksandar Mitrovic, with the Daily Star reporting that the Premier League pair may come back with an offer in the summer if a release clause becomes active. Fulham have quoted an eye-watering £40 million for his services but the Serbian star is believed to have an option to quit Craven Cottage after the season should Scott Parker's side fail to gain promotion from the Championship. 

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