Arsene Wenger has been offered the chance to sign Jermain Defoe on a loan deal that would run until January. The Gunners are short of options in attack with Olivier Giroud sidelined by injury.
Manchester City's Matija Nastasic has rejected a loan move to West Ham. The defender's preference is to fight for his place at the Etihad, but he has also been linked with a move to Everton.
Swansea are confident of keeping Wilfried Bony at the club despite a £20 million buy-out clause.
Radamel Falcao's move to Manchester United is set to be the biggest deal of the day. The Colombian is set to join the Red Devils on a one-year loan deal from Monaco with a possible £28 million deal down the line. The loan fee and wages alone will cost United approximately £18 million.
With Falcao on his way to Manchester, United look set to sell two strikers. Javier Hernandez is in the Spanish capital ahead of a possible loan to Real Madrid, while Danny Welbeck continues to be linked to Tottenham, Arsenal and Sunderland.
Alvaro Negredo is discussing a season-long loan move to Valencia, with a view to a permanent £23.7 million deal next summer.
Crystal Palace are determined to bring in new faces today and have been linked to moves for Norwich's Gary Hooper and Leicester City's Chris Wood. Zeki Fryers of Tottenham, meanwhile, is having a medical with the Eagles.
Derby County have completed the signing of 19-year-old German midfielder Tom Koblenz from Hoffenheim for an undisclosed fee.
George Boyd has joined Burnley from Hull for £3 million.
Daniel Agger has been pictured in a Brondby shirt for the first time following his move from Liverpool.