Clubs have less than 72 hours to secure the signatures of their model players, as the transfer window will slam shut at 11pm on Thursday.
We’ll keep you up-to-date with the latest transfer news and gossip every day this week.
Share your thoughts or transfer predictions by commenting below or tweeting with the hashtag #ThisIsTransfer.
1PM Anthony Wordsworth Ipswich deal on horizon
MONDAY John-Joe O'Toole extends Bristol Rovers loan
FRIDAY United sign David Wright from Crystal Palace
UPDATE 4.40PM: Swindon Town striker Paul Benson has completed a loan move to Cheltenham for the rest of the season.
The deal was revived after Swindon boss Paolo Di Canio made it clear Benson was no longer in his plans, BBC Sport reports.
UPDATE 4.20PM: Manchester City striker Mario Balotelli will sign a four-and-a-half year contract with AC Milan subject to passing a medical tomorrow, Sky Sports reports.
UPDATE 3.50PM: Plymouth Argyle striker Rhys Griffiths has been told he can leave Home Park by manager John Sheridan.
The 32-year-old, who was signed by former Argyle manager Carl Fletcher in the summer, has according to Sky Sports been told he is surplus to requirements.
He will be allowed to move on if he can find a new club.
UPDATE 3.40PM: Reading have agreed a fee with Sheffield United for striker Nick Blackman.
Blackman is set to undergo a medical at the Madejski Stadium on Wednesday ahead of signing a four-and-a-half year deal, Sky Sports reports.
UPDATE 3.40PM: West Ham United manager Sam Allardyce has admitted there is 'total confusion' regarding Mohamed Diame.
The future of the midfielder, who has been linked with Arsenal and Aston Villa, remains unclear.
UPDATE 3.30PM: York City have brought in Derry striker David McDaid on a two-year contract.
McDaid becomes the club's fourth new signing.
UPDATE 3.30PM: Port Vale "are holding fire on contract talks until they know which division they will be playing in next season", Sky Sports reports.
UPDATE 2.40PM: Notts County chairman Ray Trew has given Keith Curle the go-ahead to add to his squad ahead of Thursday's transfer deadline, Sky Sports reports.
Curle is eager to bolster his attack after allowing veteran striker Lee Hughes to leave the club by mutual consent.
UPDATE 2.30PM: Cardiff City have signed Connah's Quay striker Rhys Healey for an undisclosed fee. The 18-year-old has penned a contract which will keep him at the club until 2015.
UPDATE 2.20PM: Patrick Kisnorbo has extended his Ipswich Town stay until the end of the season.
UPDATE 2PM: Blackpool are reported to have rejected a bid from Reading for England Under-21 winger Tom Ince.
UPDATE 1PM: Ipswich are set to finalise a deal for Colchester United's Anthony Wordsworth, Sky Sports reports.
Meanwhile Birmingham have reportedly rejected an enquiry from Norwich for defender Curtis Davies.
UPDATE 12PM: The Bristol City board will have the final decision on the possible transfer of winger Albert Adomah, Sean O'Driscoll has said.
UPDATE 12PM: Harry Redknapp has confirmed Queens Park Rangers have expressed an interest in Stoke striker Peter Crouch.
The boss said he doubts a deal will happen, however.
UPDATE 11.45AM: Chelsea have made an approach for Birmingham City goalkeeper Jack Butland, Sky Sports reports.
Birmingham are considering selling Butland due to their financial problems, Sky Sports says.
UPDATE 11.30AM: Oldham Athletic have signed former favourite Paul Murray on a contract until the end of the season after the midfielder recently left League One rivals Hartlepool United, Sky Sports reports.
UPDATE 11.25AM: Bournemouth have confirmed striker Frank Demouge has joined Dutch Eredivisie side Roda JC Kerkrade on loan for the rest of the season, Sky Sports reports.
UPDATE 11.20AM: Leeds United have emerged as favourites to sign Stephen Warnock ahead of West Ham .
UPDATE 11.15AM: Reading manager Brian McDermott has confirmed the club have made a bid for Blackpool winger Tom Ince.
UPDATE 11AM: Queens Park Rangers striker Rob Hulse has joined Millwall on loan until the end of the season.
He will help to cover the recent sale of Darius Henderson to Nottingham Forest, Sky Sports reports.
Meanwhile St Johnstone have agreed a deal to sign midfielder Michael Doughty on loan. Saints manager Steve Lomas said: "We have taken young Michael Doughty from QPR. They have kindly let us have Michael."
UPDATE 10.30AM: Nottingham Forest must prioritise the signing of Birmingham City's Chris Burke before the closure of the transfer window.
The Post says Forest cannot afford to have a void to fill.
Forest have upped the ante in their efforts to sign Burke, by lodging a fresh £500,000 bid for the winger.
UPDATE 10AM: Bolton have agreed a deal to sign Irish starlet Cian Bolger from Championship rivals Leicester City, Sky Sports understands.
UPDATE 9.50AM: Reading are lining up a move to hijack Crystal Palace's swoop for Sheffield United striker Nick Blackman, Sky Sports understands.
The Potters could see a number of ins and outs before the closure of the transfer window on Thursday.
Possible outs include Peter Crouch to Queens Park Rangers (The Sun), Kenwyne Jones to Turkey or Swansea (various), Asmir Begovic to a Manchester club (but presumably not Rochdale – The Sun).
Possible ins include: Danny Graham (The Times), Carl Jenkinson (Mirror), Andreas Cornelius (Signal Radio) and Brek Shea (Soccer By Ives).
Hull City look set to meet further frustrations in their efforts to re-sign Ahmed Elmohamady before Thursday's transfer deadline, with Sunderland boss Martin O'Neill reluctant to approve a second loan this week.
Elmohamady has been back at the Stadium of Light for the last fortnight after seeing his influential season-long loan with the Tigers unexpectedly cut short on January 15.
Meanwhile Arsenal manager Arsene Wenger has rejected the latest speculation Barcelona striker David Villa could move to the Emirates Stadium this month.
Sunderland goalkeeper Johnny Maddison is joining Crawley Town on loan until the end of the season.
Bolton Wanderers have joined the race for the signature of Bristol City star Albert Adomah.
The 25-year-old winger is already wanted by Championship promotion contenders Crystal Palace, who have had two bids turned down since last Thursday.
The Post has learned Palace will now face competition from Championship rivals Bolton.
Colchester midfielder John-Joe O'Toole has extended his loan stay with League Two side Bristol Rovers .
O'Toole joined the Pirates on New Year's Eve. He will now remain at the Memorial Stadium until April 2 - taking his loan up to the maximum 93-day period.
Stoke City striker Peter Crouch is on the radar of QPR manager Harry Redknapp, the Sun reports.
According to the newspaper, Redknapp wants 31-year-old Crouch to play for him for a fifth time.
Stoke is also one of three clubs understood to be interested in bringing back Lazio striker Mauro Zarate to England.
According to Sky Sports, Stoke, Sunderland and Liverpool have "cast an eye in Zarate's direction".
Swansea City striker Danny Graham has asked to quit Swansea, reports suggest.
Last night the 27-year-old reportedly told Michael Laudrup he wants out for “personal reasons”, hours after the Swansea chief insisted Graham could stay. Swansea refused to comment, and at 8pm yesterday Swansea chairman Huw Jenkins dismissed reports claiming the striker has requested a move.
Sunderland remain poised to complete a £5.5m transfer, with Graham still believed to be Martin O'Neill's top target.
Laudrup revealed he could sign a player on loan this month amid mounting speculation over the future of Graham.
Meanwhile Swansea City goalkeeper Michel Vorm has emerged as a shock target for Barcelona, talkSPORT reports.
The 29-year-old, who joined Swansea in a bargain deal from Utrecht, is contracted to the Liberty Stadium club until 2016.
And in other City news, Wayne Routledge has followed Michu's lead by signing a new contract which will keep him at the club until 2016.
Routledge had 18 months left on his current deal, but his stellar performances this season have been rewarded with a fresh three-and-a-half year deal.
Exeter forward Elliott Chamberlain has joined Bath City on a one-month loan deal.
The 20-year-old will be available for tonight's home match against Welling United.
Hull City manager Steve Bruce yesterday admitted he is struggling to bring in a new striker to replace the injured Sone Aluko.
Port Vale have extended striker Calvin Andrew's contract until the end of the season.
Andrew has made seven appearances for the League Two leaders since signing a short-term deal in November.
Cheltenham have signed midfielder Jason Taylor on a two and-a-half year deal after his release from Rotherham.
The Millers cancelled the 26-year-old's contract by mutual consent on Monday and he joined the Robins just hours later.
Gillingham midfielder Danny Jackman has joined non-league Kidderminster on an 18-month contract.
The 30-year-old midfielder has linked up with Harriers in order to be closer to his family, Sky Sports reports.
Aston Villa right-back Alan Hutton is poised to join Spanish side Real Mallorca on loan for the remainder of the season, Sky Sports reports.
Meanwhile Aston Villa manager Paul Lambert has this morning confirmed talks have started with Andreas Weimann regarding a new contract.
Weimann still has 18 months left on his current deal and Lambert says it would be "great" if the striker signs an extension.
West Bromwich have rejected a second offer from QPR for unsettled striker Peter Odemwingie.
Albion turned down an initial bid earlier this month and they also refused Odemwingie's formal transfer request last Friday.
Wolves central defender Richard Stearman is poised to join Ipswich on loan for the remainder of the season, Sky Sports reports.
Wigan are stepping up their efforts to sign Ecuador winger Jefferson Montero from Mexican side Monarcas Morelia in a £2.75million deal, according to the Daily Mail.
The decision comes after the club was priced out of a move for Spartak Moscow's Republic of Ireland winger Aiden McGeady.
Liverpool striker Luis Suarez is among Bayern Munich's top summer transfer targets as incoming manager Pep Guardiola begins planning for next season, the Independent reports.
Meanwhile Brendan Rodgers has admitted he is hopeful of making additions to his Liverpool squad before the transfer window shuts on Thursday night.
Arsenal have opened formal talks with Barcelona to sign David Villa, Goal.com reports.
The Gunners’ contract negotiator Dicky Law has been in Spain to negotiate the transfer of the country’s all-time leading goalscorer, and Arsenal are hopeful they can push through the deal.
Meanwhile AZ Alkmaar’s midfield starlet Adam Maher has been urged to join Arsenal - by his own manager.
According to the Metro, Maher’s boss Gertjan Verbeek has advised the youngster to stay put for this season and hold out for a better move to the Gunners.
Verbeek said: "I think Arsenal would be a good environment for him".
And the Sun claims free agent David Beckham has agreed a top-secret plan with Arsenal to train with the first-team squad while he ponders his next move.
In other news, Grant Holt could be allowed to leave Norwich City if Chris Hughton, the manager, can sign either Celtic's Gary Hooper or Ricky van Wolfswinkel of Sporting Lisbon, the Guardian reports.
Galatasaray have announced the signing of former Chelsea striker Didier Drogba on an 18-month deal.
Tottenham are trying to pull off a last-minute swoop for £20m Brazilian striker Leondro Damiao from Internacional, according to the Daily Star.
Fulham are close to signing Brazilian-born Belgium international striker Igor de Camargo, from Borussia Monchengladbach, according to the Mirror.
Blackburn's loan striker Colin Kazim-Richards is being recalled by Galatasaray and sold to Bursaspor, the Mail reports.
Southampton are monitoring Brazilian midfielder Roberto Firmino, as Hoffenheim could be prepared to sell the player, according to reports in Germany.
Firmino has a contract with the Bundesliga club until June 2015.