European transfer update: Including Victor Valdes and Michel Bastos

Reported Manchester United, Chelsea, Tottenham Hotspur, Fulham and Liverpool transfer targets from past and present feature in a run down of the continents main transfer stories.

Real Madrid, Barcelona, AC Milan, Roma, Inter Milan, Schalke O04, Bayern Munich, Stuttgart, Lyon and Porto feature from Europe while Brazilian sides Sao Caetano, Palmeiras and Flamengo also make an appearance.

More now on Brazilian international Kaka and his potential return to AC Milan. The Rossoneri have confirmed that he is their one and only transfer target for January but plans to sign him on a permanent deal would hinge on many ‘difficult’ factors. First Real Madrid want around £20 million for the player and even if Kaka was to manage an early release from his contract he would need to take a salary cut to be within Milan’s price range.

Victor Valdes has stunned Barcelona fans by announcing his decision to leave the club when his contract expires. His current deal ends in 2014 and he has announced an ‘irrevocable’ decision not to renew his deal in 18 months’ time leaving Barca with the real possibility of having to sell him or risk losing him for free. Bayern Munich have been installed as the early favourites to sign him.

Nicolo Bellomo could well be on his way to Roma after it was confirmed by the players agents that the two parties had been in talks. The talented 22-year-old is currently with Bari and has previously been linked with a move to AC Milan. However Roma are now the leading club in the race for his signature while Inter are also keen.

Robert Acquafresca of Bologna has been linked with a move to the Bundesliga with Vfb Stuttgart. The young striker is considered a major transfer target this January while the club are also still in the hunt for Colombian striker Duvier Riascos.

Schalke 04 appear to be on the verge of signing Brazilian international Michel Bastos from Lyon. The French outfit have been keen to sell the left-wing-back in recent months due to financial reasons and it now appears the Bundesliga outfit have won the race for his signature.

Porto are on the verge of signing veteran striker Liedson from Flamengo as backup for the remainder of the season. The 35-year-old was previously the leading marksmen for city rivals Sporting Lisbon before the move out to Brazil but could now make a shock switch to the blue side of Lisbon.

Staying in Portugal and international striker Ariza Makukula has signed for Vitoria Setubal from Turkish outfit Karsiyaka. The DR Congo born striker has four caps for Portugal and one goal and follows in the footsteps of his father, Nuyangana Makukula, who played for Vitoria in the 80s.

Some news from South America now involving some legends of the game. Firstly Brazilian superstar and former Barcelona forward Rivaldo has found a new team. After stints in Uzbekistan and Angola he has signed on with second division side Sao Caetano. The 40-year-old will wear the number 10 shirt. Meanwhile Juan Roman Riquelme is also on the brink of a return to the game with Brazilian sides Palmeiras; after talks were confirmed to be at an advanced stage.

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