The winter transfer window is open across Europe, and business is starting to get done. What are ESPN’s reporters hearing about possible deals?

Every Friday until February, we’ll bring you the latest updates and insights on the biggest transfer news.

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Could Real Madrid be open to letting Vinicius Jr. leave?

Madrid would like Vinicius Jr. to stay and sign a new contract, and that remains the player’s preference too, multiple sources have told ESPN. But at the same time, there are more doubts about his future than ever before. And some sources aren’t ruling out a departure in the summer.

Talks over a new deal — with his contract up in 2027 — have been stalled since last May. Vinicius is in poor form, with no goals in his last 16 games. He has been whistled by Madrid fans, and his relationship with coach Xabi Alonso has been strained. Sources close to the Brazil forward believe there will be no contract agreement before the 2026 World Cup, with no talks expected sooner, which would mean Vinicius entering the final year of his contract. Is that a risk Madrid are willing to take?

The Bernabéu crowd’s treatment of the player is not a surprise, sources close to him said, blaming the Spanish media for their coverage of the saga. The only solution to the stand-off is viewed as Vinicius rediscovering his form and the team’s all-round game improving, reducing the tension around the side and coach Alonso. That would open up a scenario where Madrid and the player’s camp could both justify reaching a compromise agreement.

Previous interest from Saudi Arabia has cooled, and Vinicius would not favor a move there, sources said, preferring — in the event of a move — to join a top European team. Despite links in recent days, there has been no official approach from Chelsea, sources close to the player told ESPN. — Alex Kirkland, Gustavo Hofman, Rodrigo Faez and Rodra

But are Chelsea interested?

Most top clubs would hold an interest in a player of that caliber and it has been at least five minutes since Chelsea signed a winger … But club sources have told ESPN that they are expecting a quiet January as they focus on their summer plans and the Blues would have to create both the space in the squad and the requisite finances to do a deal of that size.

You can rarely rule Chelsea out of a transfer like this given their proclivity for a deal, but it seems highly unlikely this month as things stand. — James Olley

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Burley: Arsenal will win the league despite Viktor Gyökeres

Craig Burley talks about Viktor Gyökeres’ lack of goals in Arsenal’s draw to Liverpool as they stand top of the Premier League table.

Have Arsenal suddenly entered the running for Crystal Palace defender Marc Guéhi?

Not exactly. Guéhi has been running down his contract for the past 18 months and during that time, leading clubs from across Europe have lodged an interest in the center back, including Arsenal. Crystal Palace were steadfast in their refusal to let him go until the end of the 2025 summer window, when reluctantly accepting he would not sign a new contract and agreeing a £35 million deal with Liverpool, only for it to collapse on deadline day.

With his contact up in 2026, Palace want to avoid losing Guéhi for nothing in the summer and have signaled a willingness to listen to offers. But Liverpool are yet to return to the table, believing they can sign him on a free transfer at the end of the season. Consequently, others are sensing a more immediate opportunity.

Arsenal have asked to be kept informed of the situation this month — and that is significant — yet they signed Piero Hincapié and Cristhian Mosquera in the summer and don’t appear to have space in the squad to do a deal now, despite recent injuries. But with the Premier League title in sight, could they resist one more addition if the circumstances arose? — Olley

Are Man City and Liverpool still interested in Guéhi?

A January move for Guéhi wasn’t really on City’s radar, but that was before they lost Josko Gvardiol and Rúben Dias to injury. Throw in John Stones‘ continued absence (and the likelihood that he’s leaving in the summer, anyway) and doubts over Nathan Aké‘s ability to stay fit and you can understand why it’s suddenly become appealing.

City were looking at Guéhi for the summer because it’s very rare that market opportunities like that come up. If there’s a possibility that they could bring it forward for an acceptable fee then they’ll look at it. It would certainly solve a big problem for Pep Guardiola. — Rob Dawson

Guéhi’s summer move to Liverpool was so advanced that he had already undergone the first part of his medical when Crystal Palace chairman Steve Parish pulled the plug.

Liverpool were prepared to pay a transfer fee of £35 million to land the defender back on deadline day, but had planned to revisit the deal next summer when Guéhi will be a free agent. However, while Liverpool are anticipating a quiet January, they could be forced into action should City make a bid, and they have previous for bringing forward their summer plans to ensure they land their top targets. — Beth Lindop

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Who’s in contention to be Manchester United’s interim head coach?

Mark Ogden discusses current candidates to take charge of Manchester United until the end of the season, including Ole Gunnar Solskjaer and Michael Carrick.

Man United have no manager, but will they let Kobbie Mainoo, Joshua Zirkzee or Manuel Ugarte leave?

United won’t do any business before their three AFCON absentees — Bryan Mbeumo, Amad Diallo and Noussair Mazraoui — return to Old Trafford, but once they are back in the squad, United will listen to offers for Zirkzee and Ugarte. Mainoo won’t be going anywhere this month.

The issue with both Ugarte and Zirkzee, however, is their wages and the reluctance of clubs to foot the salary bills. Ugarte is on substantial wages, having arrived at United from Paris Saint-Germain, while the club would expect a significant fee and/or wage commitment for Zirkzee. The overall cost of Zirkzee’s transfer to United was in the region of £50 million due to fee and agent commission after his 2024 arrival from Bologna. — Mark Ogden

There’s an acceptance that Zirkzee and Ugarte aren’t good enough to be part of United’s long-term plans. But they’re part of a very thin squad and there are games to play to get back into Europe next season.

If they were to leave in January, they would probably need to be replaced and United are more focused on the summer window. Roma are interested in Zirkzee, although there hasn’t yet been any club-to-club contact. — Dawson

Are Paris Saint-Germain going to do anything this month?

Luis Enrique is very happy with his squad, which won yet another trophy with the Trophée des Champions (the French version of the Super Cup) on Thursday. The injured players (Ousmane Dembélé, Désiré Doué, Achraf Hakimi, Marquinhos) are fully fit now so there is not really much need for new arrivals.

If a player were to leave then he would be replaced, but the Parisians are already working on their summer plans. They will make a move for the Lille prodigy Ayyoub Bouaddi. The defensive midfielder, 18, is an amazing talent and PSG see him as the successor to Fabián Ruiz.

They also like two young talents from Portugal: Benfica striker Anisio Cabral, 17, has a release clause which is already €60m and he was the top goal scorer in the last U17 World Cup; and FC Porto starting right back Alberto Costa, whose transfer is valued at around €25 million. — Julien Laurens

Barcelona are set to sign João Cancelo on loan, but do they really want a center back? And will goalkeeper Marc-André ter Stegen leave?

Barça coach Hansi Flick wanted a center back this month but he will have to make do with full back Cancelo. The Portugal international offers depth in the full back positions, while his arrival could potentially allow Jules Koundé to play in the middle of defense if needed, but it is not exactly what Flick had in mind this month.

However, the nature of the options available in January, coupled with Barça’s tricky financial situation, means the German manager has accepted that an extra body in defense is better than none. Barça, meanwhile, continue to work on the idea of landing a top center back in the summer — barring any dramatic twists in January.

Meanwhile, Ter Stegen’s future remains up in the air. Flick has made it clear that Joan García is No. 1 at Barça, but there is no clear getaway for the Germany international at the moment. Girona are one team who have shown concrete interest, but a deal remains difficult.

One source suggested to ESPN that Barça may not be willing to let a player leave while still paying the majority of his salary. Another confirmed Girona’s desire to sign the Germany goalkeeper, who wants game time before the World Cup this summer, but also admitted that financially any deal will be “complicated.” That said, stances can quickly change as February nears, so it remains one to watch. — Sam Marsden

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Are Bayern Munich fan’s right to be upset with Lennart Karl?

Gab Marcotti and Julien Laurens react to Lennart Karl saying he hopes to play for Real Madrid in the future.

Any other interesting deals in the works?

– USMNT striker Ricardo Pepi is of interest to Fulham, but PSV Eindhoven do not have plans to let him leave during this transfer window. — ESPN NL

– Don’t expect Raheem Sterling to return to the fold for Chelsea now that Enzo Maresca has been replaced as coach by Liam Rosenior. The former Liverpool and Manchester City winger has not played for Chelsea since the 2023-24 season and has been forced to train away from the first team since returning from a season-long loan at Arsenal in 2024-25. But while there has been a change of coach at Stamford Bridge, sources told ESPN that his situation at Chelsea is an ownership decision rather than one made by the coach. — Ogden

– Atlético Madrid are open to letting 24-year-old winger Thiago Almada leave if the club receives a suitable offer, according to sources. The Rojiblancos paid Botafogo around €20 million last summer to secure his services, with the intention of him becoming one of the new stars of Diego Simeone’s team. However, the Argentina international has only started five games since, scoring two goals and providing one assist. Atléti are in no rush because he is young, but Almada needs playing time to prove to Argentina coach Lionel Scaloni that he can play an important role at the World Cup, and he might want to move. — Rodri Faez

– Atlético are close to a deal that would see Giacomo Raspadori move to Roma on loan once the Supercopa de España is over. Atléti’s intention is to recoup the €25 million they paid to sign the Italy striker from Napoli in the summer, although they are looking at an initial loan with a mandatory permanent option. — Faez

– Manchester United winger Sam Mather, 21, is close to a permanent move to Turkish club Kayserispor, after failing to break into the first team. — Dawson

– Ajax midfielder Kenneth Taylor has agreed a move to Italian giants Lazio for a fee of €17 million plus add-ons. — ESPN NL

– There is no recall option in midfielder Harvey Elliott‘s loan to Aston Villa, so the onus is on Villa to try and come to an agreement with Liverpool if he is surplus to requirements. — Lindop

– Vancouver Whitecaps defender Tristan Blackmon looks to be staying put, after a report from the Miami Herald emerged that Inter Miami were close to acquiring the U.S. international. Whitecaps GM Axel Schuster went so far as to issue a statement saying that rather than departing, “the opposite was true” in terms of Blackmon’s future. One source with knowledge of the player’s thinking added that Blackmon would remain in Vancouver, and that he and the Whitecaps are working towards signing the player to a new contract. — Jeff Carlisle

– Marseille have made an official offer to sign Botafogo forward Artur. According to sources, the decision to accept the deal or not will be in the hands of new Botafogo coach Martín Anselmi. — André Hernan, ESPN Brasil

– Free agent Gabriel Paulista is set to join Corinthians after agreeing a contract with the club. The 35-year-old defender will be fulfilling a childhood dream, as he is a supporter of the club, and he let go of 30 million Brazilian reais ($5.6 million) in wages owed from his time at Besiktas to join them. The former Arsenal center back was also the subject of interest from other Brazilian teams, but ultimately chose to join his boyhood club. — Hernan and Felipe Silva, ESPN Brasil

– Sergio Ramos, 39, and James Rodríguez, 34, have left Liga MX sides Monterrey and León, respectively, but there is a possibility that both players could continue to play in Mexico or MLS, as several teams have inquired about them. Rodríguez has been linked with at least five teams from MLS, with LA Galaxy and the Columbus Crew being the strongest contenders. Ramos recently turned down a move to Paris FC and is reportedly keen to return to Europe. — ESPN Deportes