Transfer Rumors: Arsenal Offer Two Stars for Alvarez; Real Madrid Plan Bellingham Exit

Marcus Rashford, Jérémy Jacquet, Martin Ødegaard, Joshua Zirkzee and many more all feature in the gossip.

Julián Alvarez (left) and Jude Bellingham (right) headline the gossip. | Flor Tan Jun/Nicolò Campo/LightRocket/Getty Images

Sports Illustrated rounds up the latest transfer rumors and gossip from around the world.

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Premier League

Martin Ødegaard has come under fire for his performances this season. | James Gill/Danehouse/Getty Images

Liverpool and Chelsea remain in a tense battle for Rennes centre back Jérémy Jacquet, while Bayern Munich now appear unlikely to snag the 20-year-old’s signature. The exciting young talent would not join either club, though, until the summer. (Source: Fabrizio Romano)

After being dropped from Mikel Arteta’s XI at the weekend, Arsenal skipper Martin Ødegaard has been linked with a return to Real Madrid as the Spanish outfit scours the market for a midfield reinforcement. (Source: Fichajes)

Despite speculation of a possible return to Serie A this winter, Manchester United striker Joshua Zirkzee is determined to stay at Old Trafford for the rest of the season. (Source: The Sun)

After losing out on Marc Guéhi, Liverpool have identified Atalanta centre back Giorgio Scalvini as a £45 million ($61.6 million) alternative. The 22-year-old has been labelled a potential long-term successor to Virgil van Dijk. (Source: SportsBoom)

Juventus are pushing for the return of loanee Randal Kolo Muani, who currently represents Tottenham Hotspur. The Italian giants want Spurs to terminate his contract, freeing the striker to return to Turin. (Source: Tuttosport)

Everton lead the race for Chelsea winger Tyrique George. The Toffees sent an official loan proposal with an option to buy to the Blues. (Source: Fabrizio Romano)

Man Utd are monitoring the market for a last-minute replacement for the injured Patrick Dorgu. What was thought to be a relatively quiet winter transfer window could suddenly end with a bang. (Source: The Sun)

With pressure mounting on Thomas Frank, Tottenham are exploring options to replace the Danish boss with a proven Premier League manager, like Enzo Maresca. The club has reservations about the former Chelsea boss, though, given his temperament. (Source: Football Insider)

A full agreement has been reached between Nottingham Forest and Manchester City for goalkeeper Stefan Ortega. The German inked a five-month contract with the club. (Source: Florian Plettenberg)

Crystal Palace striker Jean-Philippe Mateta has agreed to join AC Milan on a contract through 2030, but the Eagles will not part ways with the Frenchman unless they sign a replacement. (Source: The Times)

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La Liga

Ferran Torres is part of Hansi Flick’s long-term plans at Barcelona. | Jose Hernandez/Anadolu/Getty Images

Former Real Madrid boss José Mourinho has been tipped for a sensational return to the Bernabéu. After Benfica’s Champions League triumph over Los Blancos, the manager reminded the club what he can produce from the touchline. (Source: The Mirror)

Real Madrid president Florentino Pérez is determined to sign Man Utd midfielder Bruno Fernandes in the summer in a deal that would allow the club to cash in on Jude Bellingham and generate significant funds for the club. (Source: Fichajes)

Despite his outspoken desire to stay at Barcelona, Man Utd loanee Marcus Rashford is wanted back at Old Trafford by interim boss Michael Carrick. (Source: The Telegraph)

Atlético Madrid forward Julián Alvarez is still being heavily pursued by Arsenal, who are willing to offer Gabriel Martinelli and Gabriel Jesus in exchange for the Argentine. (Source: TEAMtalk)

Real Madrid have added Tottenham centre back Cristian Romero to their shortlist of potential defensive reinforcements to come after David Alaba and possibly Antonio Rüdiger leave the club in the summer. The Argentine’s wages would be lower than the club’s other target, Dayot Upamecano. (Source: Defensa Central)

Barcelona rejected an €80 million ($94.8 million) offer from Aston Villa for striker Ferran Torres. The Spaniard is considered untouchable by Hansi Flick. (Source: Fichajes)

Atlético Madrid have reached an agreement with Atalanta for Ademola Lookman. The deal hinges on the player’s decision—the attacking midfielder has yet to give the green light for the transfer. (Source: Gianluca Di Marzio)

Real Madrid intend to put Dani Ceballos up for sale, hoping to cash in around €15 million ($17.8 million) for the Spaniard who still has a season and a half left on his contract. The midfielder is not in Álvaro Arbeloa’s plans moving froward. (Source: Defensa Central)

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