10am Transfer Talk Update: Theo Walcott, Marouane Fellaini, Mario Balotelli

Sports Mole gathers the latest transfer speculation with 23 days left to go until the January window slams shut.

This morning's headlines:

Report: Walcott to sign a new contract Theo Walcott will reportedly put pen to paper on a new contract at Arsenal this week following months of talks.

Fellaini has £22m buyout clause? Reports claim that rival clubs have been alerted to a £22m buyout clause in Everton midfielder Marouane Fellaini's contract.

Milan rule out Balotelli swoop AC Milan chief executive Adriano Galliani says that the Italian club do not need Manchester City striker Mario Balotelli.

Ferguson eyes Lampard signing? Manchester United boss Sir Alex Ferguson is thought to be considering a move for Chelsea midfielder Frank Lampard.

Drogba dismisses Europe return Shanghai Shenhua forward Didier Drogba reveals that he has no immediate intentions to return to Europe.

Arsenal dealt Villa blow Arsenal may have to wait until the summer to sign Barcelona's David Villa as his wife is due to give birth in February.

Villa prepare £12m Graham move? Fulham are reportedly prepared to table £12m for Swansea City striker Danny Graham.

Appleton: 'Liverpool bid not enough' Blackpool manager Michael Appleton insists that the club do not have to sell Thomas Ince and that Liverpool's opening offer was not good enough.

Chelsea have Taison competition Chelsea could lose out on Metalist midfielder Taison after the likes of Manchester City and Benfica reportedly enter the fray.

United interested in Muslera? Manchester United are reportedly poised to launch a bid for Galatasaray goalkeeper Fernando Muslera.

Moyes rules out Anichebe exit Everton manager David Moyes insists that Victor Anichebe will not be sold in the winter transfer window.

Biglia back on Arsenal radar Arsenal are believed to be keeping tabs on Anderlecht midfielder Lucas Biglia.

Fulham make fresh Arshavin bid Fulham are thought to have revived their interest in Arsenal outcast Andrey Arshavin.

Nelsen agrees Toronto deal? Ryan Nelsen could leave Queens Park Rangers to become the manager of Major League Soccer side Toronto.

Villa "following" Cavanda Aston Villa are believed to be monitoring Lazio defender Luis Cavanda.