What we’re hearing in the transfer window: Liverpool, Man United, Olmo latest

The transfer window is open across Europe as clubs look to do some mid-season business. But what are ESPN’s reporters hearing about some of the deals that could be done, and which clubs are hoping to make moves?

Every Friday during January we’ll bring you the latest updates and insight on the biggest transfer news around.

Are Liverpool any closer to contracts for their star trio? And will Real Madrid land Trent Alexander-Arnold this month?

There has been no tangible breakthrough on any of the three contracts at this stage, but sources told ESPN that the reality of modern-day contracts is that they take months due to so many elements that need to be addressed, including the basics of length and salary, but also agent fees, image rights and bonuses. There is no sense of panic at the Liverpool end, and the same applies to Real Madrid’s approach for Alexander-Arnold.

There will be no transfer to the Bernabeu for the right-back this month. — Mark Ogden

There is a prevailing sense at Liverpool that it is only a matter of time before Salah and Van Dijk commit their futures to the club. At over 30 years old, both players are approaching the twilight of their careers and have recently spoken about their emotional attachment to life at Anfield.

Alexander-Arnold’s situation is a more complicated matter, given he is 26, with Real Madrid’s approach taking many by surprise. It was expected the Spanish club would wait until the summer to make their move, but while Alexander-Arnold may choose to join them on a free transfer, it seems that brokering a deal this month is a non-starter as Liverpool continue their pursuit of a 20th league title. — Beth Lindop

Could Barcelona actually SIGN players this month if they can’t register Dani Olmo and Pau Víctor?

Barcelona are working flat out to try and register summer signings Olmo and Victor, despite missing LaLiga’s deadline of Dec. 31 to comply with the league’s financial fair play rules, but there is a scenario where Olmo and Victor remain unregistered for the second half of the season and the club sign another player.

The problem is that RFEF rules state players cannot be re-registered with the same team for the second time in the same season, so if Barça can make space within their league-imposed spending cap — be that through the sale of VIP boxes in Spotify Camp Nou or player exits — they could still try to sign new players in January. One player Barça are looking at is Bayer Leverkusen defender Jonathan Tah, although that would be a deal for the summer when he is a free agent.

Club sources told ESPN that the focus for January is on Olmo and Victor — with an update expected on Jan. 3 — but they are ruling nothing out this month, with Hansi Flick’s flagging squad in need of more depth in certain areas. — Sam Marsden

Manchester United need to change something, but will they sign anyone?

Man United don’t have the money to do deals this month due to the Premier League’s Profit & Sustainability Rules (PSR) restrictions, but if they can offload out-of-favour players including Antony, Casemiro and Marcus Rashford, it would open up the possibility of bringing new faces in.

Rashford could generate a significant fee if he left permanently so that would be a financial bonus for United, but sources said that the key element in today’s PSR-dominated landscape is the wage bill. Shifting Casemiro and Rashford would free up over £500,000 a week off the salary commitments, which would in turn enable the club to target loans or players entering the final six months of contracts elsewhere. — Ogden

New manager Ruben Amorim has been told there isn’t much budget to sign players in January, but that hasn’t stopped him from asking. If money can be raised, it’s likely he will target a left wing-back to help him implement his 3-4-3 system.

United are open to offers for practically every member of their first-team squad and will consider loan bids for Rashford and Casemiro, but interested clubs would have to pay the majority of their wages. — Dawson

In the women’s team, midfielder Hayley Ladd is attracting plenty of interest from a number of Women’s Super League (WSL) clubs, including Liverpool, Crystal Palace and Tottenham. Ladd, 31, has found herself sidelined under Marc Skinner and is eager to secure regular playing time to secure her place in Wales’ squad for Euro 2025 — their first major tournament. — Emily Keogh

What’s the latest on Rashford’s future?

Fairly straightforward: nobody is prepared to pay a fee and his £325,000-a-week wages to take him away. Sources said he continues to act professionally around the club and that the door is not closed at Old Trafford, but the reality appears to contradict that due to his ongoing absence from Amorim’s team. — Ogden

The word from within United is that Amorim has “made his decision” on Rashford and that a parting of ways in January would be best for everyone, but as Mark says, that’s easier said than done. His contract at Old Trafford is a massive stumbling block, even for clubs in the Premier League. Rashford does not want to move to Saudi Arabia this month and interest is also being played down on the Saudi side, while PSG have also played down interest.

United will consider offers from other English clubs, but they won’t accept a deal similar to the one that saw Raheem Sterling move from Chelsea to Arsenal. Chelsea are still paying 90% of Sterling’s wages, and United would need to shift a much larger chunk of Rashford’s salary. — Dawson

What are Real Madrid going to do in January?

Madrid’s transfer window was always going to be about strengthening at right-back: it’s the team’s one glaring weakness with Dani Carvajal out injured long-term, and the club are keen to act now rather than wait until the summer. Tuesday’s first approach for Alexander-Arnold shows that.

Don’t be surprised if Madrid go back to Liverpool with a more concrete offer at around €25m this month, but is there any figure that a) Madrid would be prepared to pay and b) Liverpool would be tempted to accept? If they can’t get Alexander-Arnold, it’s hard to make the case for an alternative who might be unwanted by the summer.

The most likely scenario remains no January additions. At least David Alaba’s return to training this week, after a long-term injury, means they have an extra option at the back. — Alex Kirkland

Manchester City also need to change something …

They want to, but it will be difficult. Bruno Guimarães at Newcastle is considered too expensive, while Martín Zubimendi at Real Sociedad is too similar to Rodri. There’s interest in Brazil midfielder Éderson, but there are doubts about whether Atalanta will consider offers in January while they’re top of Serie A and well-placed in the Champions League.

Meanwhile, forward Claudio Echeverri, who signed from River Plate last January and stayed on loan for a year, has left the club to become a new City player. But he will not be immediately available to Pep Guardiola as reports say he has been authorised to play for Argentina in the South American Under-20 Championship, which will be played from Jan. 23 to Feb. 16 — Dawson

In the women’s team, there could be a big exit. Chloe Kelly has been relegated to City’s bench for much of the season thus far, starting just one WSL match. The England international is understandably exploring her options and may look to move on from last season’s runners-up.

With her contract set to expire in the summer, a loan move could be on the cards. However, City are already dealing with a series of injuries, notably to key forwards Lauren Hemp and Khadija “Bunny” Shaw, which could make manager Gareth Taylor reluctant to let a senior player go. Kelly is in urgent need of regular minutes to bolster her chances of making England’s squad for Euro 2025 this summer and head coach Sarina Wiegman has already admitted concern over her lack of playing time. — Keogh

Who could be leaving Chelsea in January?

There are several members of Chelsea’s infamous “bomb squad” — a group of players deemed surplus to requirements — who will be given another chance to find a new club. Ben Chilwell, Carney Chukwuemeka and Cesare Casadei are among them. Deivid Washington and Lucas Bergstrom could depart either on loan or permanently. — James Olley

Arsenal have to do without the injured Bukayo Saka for “months,” so are they looking at a possible replacement?

There has been a view internally at Arsenal for some time that they need one more attacking option and Saka’s absence therefore plays into pre-existing thinking. Whether those players are available mid-season, however, is another matter entirely. Mikel Arteta has insisted Arsenal’s “preparation is done” in the market, which is essentially code for suggesting they know who their targets are and if they become available, a deal will be explored. — Olley

Arsenal’s women are also looking to strengthen their squad and are set to sign a winger during January. One potential target is rumoured to be ready to make the move from the NWSL, but the transfer is likely to be a ‘one-in, one-out’ situation for the Gunners, as midfielder Katherine Kühl is expected to depart for Everton following a lack of game time. — Keogh

Tottenham need defenders before they can sign attackers, right?

The issue Tottenham have is their long-term transfer plans are different to their short-term needs. Ange Postecoglou is on record confirming the club want to sign at least one or two attacking players in the next couple of windows, amid concerns about Richarlison’s inability to stay fit for long periods and a general desire to improve their overall quality.

But Spurs are badly short at the back, forced by injuries elsewhere into playing full-back Archie Gray as an emergency centre-back and recalling Djed Spence — long deemed surplus to requirements — to play out of position at left-back, while veteran Fraser Forster is deputising in goal. A left-sided defender is therefore essential this month with a recognition squad depth — rather than improving the first XI when everyone is fit — is the most realistic aim this month. — Olley

Is Calvert-Lewin on Juve’s radar?

Dominic Calvert-Lewin’s contract situation could see him leave Everton in January.

The 27-year-old forward becomes a free agent in June, but interest from Italy, notably from Juventus and Atalanta, could result in a move this month. Much depends on whether Everton regard a fee for the player being more valuable than his potential worth on the pitch, with Sean Dyche’s team still deep in a relegation battle and needing Calvert-Lewin’s goal threat to help keep the club in the Premier League.

Dyche fielded questions about his striker in Thursday’s news conference, stressing there were no updates. “There’s been no contact from anyone,” Dyche said. “There’s bound to be rumours. There’s bound to be conjecture: that’s the nature of it.” — Ogden