Live Coverage: Transfer Talk - January 28

Good morning and welcome to Sports Mole's live transfer blog. Could today finally be the day that we see some of the Premier League big boys splash big in the mid-season window?

Chelsea and Arsenal are reportedly expected to land Douglas Costa and Gabriel Paulista respectively some time today, although things seem to have gone very quiet on the Manchester United front of late.

With just five days of the transfer window remaining there has understandably been plenty of speculation emerging overnight, including:

- Report: Ravel Morrison set for Lazio medical ahead of move

- Danilo Pantic close to securing Chelsea move

- Report: Wilfried Zaha to make permanent switch back to Crystal Palace

- Moussa Sissoko happy to stay at Newcastle United

It is now time to bring you our first Transfer Talk Update of the day, which dissects all the latest news and gossip doing the rounds this morning.

We may be approaching the end of the first transfer window of 2015, but a new FIFA report released today has revealed last year's spending in depth.

Perhaps unsurprisingly, English clubs lead the way in terms of global spending on foreign stars with £770m splashed out in all, while a quarter of the £2.6b spent across the world was contributed by teams on these shores. Click here to read more findings from the report.

DEVELOPMENT! One deal which is expected to go through in the next few hours is Wigan Athletic midfielder Adam Forshaw's proposed switch to promotion-chasing Middlesbrough.

The Northern Echo reports that a £2m deal has been agreed, with the finishing touches being put in place before an announcement is made.

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Right, it's now time to hand the transfer baton over to Joe Fish, who will keep you updated with all the latest goings on through until midday.

Thanks Dan. Middlesbrough are closing in on Forshaw and also apparently hold an interest in Graham Dorrans, who will be allowed to leave West Bromwich Albion before the transfer deadline, according to reports. Birmingham and Burnley have also been linked with the midfielder.

DONE DEAL! Remember Ronald Zubar? The former Wolves defender has joined New York Red Bulls on undisclosed terms from French side Ajaccio. Zubar played at Molineux between 2009 and 2013.

Juan Cuadrado to Chelsea is a rumour that could go all the way to the deadline, and his Fiorentina teammate Micah Richards has backed him to be a big hit in the Premier League is a move materialises. Not sure his parent club Man City will be thrilled by him endorsing the potential transfer...

Crystal Palace are expected to be one of the busiest Premier League teams in the final days of this window, but it seems as if they may have reached an impasse in their pursuit of QPR midfielder Jordon Mutch. The Eagles are prepared to pay £4m for the former Cardiff City star, but the Hoops are determined to hold out for the £5.5m that they paid for him in the summer.

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NEW CONTRACT! Mikel Arteta has signed a one-year contract extension with Arsenal, according to his agent. The Spanish midfielder, 32, would have been a free agent at the end of the season. No confirmation from the Gunners as yet. We will bring you that if and when it comes.

That's it from me. Danielle Joynson will take you through the next few hours of news and gossip...

Thanks Joe! I'll start with some news from League One. Bristol City have extended the loan of Fulham striker Matt Smith until the beginning of March.

BREAKING NEWS: #BristolCity extend the loan of Fulham striker Matt Smith until March 1st. http://t.co/TUkkIdXJEQ pic.twitter.com/Sk8aoCeUlF — Bristol City FC (@bcfctweets) January 28, 2015

Let's move down to League Two and the news that Tranmere Rovers have sealed the signature of Adam Dugdale on a six-month deal. The defender has made the move following his release by Crewe Alexandra.

Andre Schurrle has regularly been linked with a move away from Chelsea this month. While Wolfsburg were registered with an interest, it is believed that Borussia Dortmund are willing to pay £27m for the German's services. Reports have claimed that Chelsea are keen to get the deal done as they hunt for funds to activate Juan Cuadrado's £26.8m buyout clause at Fiorentina.

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Let's stay in the Premier League, and discuss Emmanuel Adebayor's future at Tottenham Hotspur. The Togolese striker has been booed by Spurs fans in recent games, and it is understood that Paris Saint-Germain are willing to offer him a way out. According to Sky Sports News, the Ligue 1 side are keen to secure a loan deal with the player.

Now, as I'm sure you're aware, David de Gea's Manchester United future has been a major talking point this month. Real Madrid are said to be lurking in the background, but according to recent reports, the Spaniard has agreed a new five-year contract at Old Trafford. Good news for United fans!

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DONE DEAL! Middlesbrough announce the signing of Adam Forshaw from Wigan Athletic for an undisclosed fee. The midfielder has signed for the Championship-title chasers until the summer of 2018. Read more.

A number of Premier League sides, including Liverpool, have been linked with MK Dons' 18-year-old midfielder Dele Alli. Today, manager Karl Robinson has confirmed that Newcastle United are one of the top flight clubs to have expressed an interest.

DONE DEAL! West Bromwich Albion confirm that Callum McManaman has completed his move from Wigan Athletic for an undisclosed fee. Read more.

CONFIRMED: We are delighted to announce the signing of Callum McManaman. Full story here http://t.co/QAfK3rhNWD #wba pic.twitter.com/LQiN1Qcvv8 — West Bromwich Albion (@WBAFCofficial) January 28, 2015

Darren Fletcher has been heavily linked with a switch to West Ham United, but the midfielder's current club Manchester United are said to be refusing to pay up the rest of his contract, which expires at the end of the season. Reports have claimed that United manager Louis van Gaal is happy for the Scotland international to remain in the team until the season comes to a close.

That's all from me this afternoon, but I shall hand you over to Joe Fish, who will keep you updated with all the latest transfer gossip over the next few hours...

Thanks Danielle. I'll start with some good news for Bristol City fans. The Robins have extended the loan of star striker Matt Smith from Fulham until March 1. The 25-year-old has nine goals in 12 games for City.

From Bristol to the Bernabeu. Reports are claiming that Real Madrid are preparing a swoop for 19-year-old Valencia left-back Jose Gaya, who has impressed in La Liga this season despite his tender years.

Back to the Football League, and Shrewsbury Town have signed Sunderland striker Mikael Manrdon on loan until the end of the season to boost their promotion bid. Salop are currently second in League Two.

DEVELOPMENT! Now I told you earlier that Crystal Palace and QPR were deadlocked over a fee for Jordon Mutch. However, it seems that a 'let's meet somewhere in the middle' tactic has worked for both parties. Reports this afternoon are claiming that Rangers have accepted a £4.75m offer from Palace for the midfielder, who only joined QPR from Cardiff in the summer.

Two clubs who have been at an impasse throughout this month are Birmingham and Bournemouth, who have now apparently lodged a fourth bid for Blues striker Demarai Gray. This offer from the promotion-chasing Cherries is believed to be £3.5m, but Birmingham are holding out for £5m.

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One striker who has already been on the move is Samuel Eto'o, who joined Sampdoria from Everton earlier this week. Toffees manager Roberto Martinez has ruled out entering the transfer market this month to replace him, insisting that he already has solutions within his squad.

DONE DEAL! Cardiff have confirmed their fourth signing of the window, with midfielder Stuart O'Keefe joining on an undisclosed fee from Crystal Palace. The 23-year-old signs a two-and-a-half year contract.

CONFIRMED! We finally have official confirmation of Arsenal completing the signing of Gabriel Paulista from Villarreal. The Brazilian defender joins on a "long-term deal" for around £12m. Joel Campbell, who is moving the other way on loan until the end of the season, has also agreed a new contract at the Emirates Stadium. Read more here.

It's official - @Arsenal have signed Gabriel from Villarreal! Full story here: http://t.co/PTmDsbDkvj #WelcomeGabriel pic.twitter.com/PgkgL21j6G — Arsenal FC (@Arsenal) January 28, 2015

Yesterday it was reported that QPR had rejected an approach from Derby for Junior Hoilett. The Canadian winger seems to have plenty of suitors, with Bundesliga outfit Borussia Monchengladbach having now apparently made an enquiry. Hoilett has previously played in Germany for SC Paderborn and St. Pauli.

Wigan have some money at their disposal after selling Callum McManaman to West Brom. Malky Mackay has been pursuing Leeds United defender Jason Pearce and reports are now claiming that the two Championship clubs have agreed a fee for the 27-year-old centre-back.

That is it from me for now, but Jack Prescott is on hand to take you through the next couple of hours. Over to you, Jack.

Good evening! Right, let's kick things off with a bit of gossip concerning West Ham United. Hammers winger Matt Jarvis looks set to leave the club, according to reports. Championship club Cardiff City are attempting to prise the player away from Upton Park with the promise of first-team football, while West Brom manager Tony Pulis is also interested in signing Jarvis.

Spartak Moscow defender Salvatore Bocchetti has returned to Italian football with AC Milan. The 28-year-old, who left Genoa for Russian side Rubin Kazan in 2010, has agreed to an initial six-month loan stint at San Siro.

Derby County are believed to be leading several of their Championship rivals in the race to sign Tom Ince on loan from Hull City. The 22-year-old has only made eight appearances for the Tigers since joining in the summer and could be sent out to get more regular football this month.

Championship strugglers Blackpool have confirmed that midfielder Jonathan Legear has left the club by mutual consent. The 23-year-old Belgian joined the Seasiders in October, but he failed to make a first-team appearance during his brief spell at Bloomfield Road.

Tranmere Rovers have signed defender Josh Thompson on a six-month deal. The 23-year-old had recently been on loan at Prenton Park from Colchester United.

That's all from me this evening, but Alex Meyers will now be here until 11pm to keep you up to date with all of the latest news and gossip from the January transfer window. Enjoy!

Thanks Jack. I'll start with the news that Yevhen Konoplyanka is unlikely to be joining Roma this month. The Dnipro winger has been strongly linked with the Italians, but his father has poured cold water on the switch.

If reports from Italy this evening are to be believed, then Juan Cuadrado could be on his way to Chelsea. The Londoners have apparently agreed to pay the Colombian international's release clause, which is though to be £27.5m.

Well, that's all from me on the blog this evening. I will now be leaving you in the hands of Shane Callaghan, to bring you the latest transfer news for the next few hours.

Thanks mate. Good evening folks and could this Premier League veteran be on his way back to England's top flight? Click here to discover the mystery man and reported Crystal Palace target.

Some more Palace-related stuff and, according to reports, West Ham will rival the Eagles to sign wantaway Swansea City striker Bafetimbi Gomis. Little more on this here.

We already mentioned Shola Ameobi's potential return to the Premier League, but here's news of another prominent figure in English football returning to our shores reportedly, as Aston Villa enter the race to sign Demba Ba! What a signing that would be for them. More in here.

One more transfer story, and we're going continental as AC Milan boss Filippo Inzaghi expresses his desire to add further reinforcements to his struggling team before the window closes.

Well, that's a rap folks, but our transfer blog is back online in about five hours time so don't venture too far, unless it's to bed, in which that's fair enough because it's late, but we'll see you at some point. Goodnight.