Manchester United and Liverpool are both pursuing Bournemouth and France left-back Adrien Truffert, 24, who is valued at approximately £60 million.
Barcelona are tracking Brazil and Athletico Paranaense defender Arthur Dias, 19, after Tottenham previously bid £18 million for the youngster.
Newcastle United are favourites to sign Lyon midfielder Tyler Morton, 23, who left Liverpool last year and is impressing in France.
Liverpool, Chelsea, and Arsenal are monitoring England defender Jarell Quansah, 23, who continues to impress for Bayer Leverkusen.
Arsenal captain Martin Odegaard, 27, is expected to sign a new long-term contract with manager Mikel Arteta at the Emirates.
Arsenal are preparing a fresh attempt to lure Atletico Madrid and Argentina striker Julian Alvarez, 26, to north London in January.
Former Real Madrid full-back Dani Carvajal remains a free agent after his move to Getafe collapsed.
Bayern Munich and Borussia Dortmund are keen on Tottenham youngster Luca Williams-Barnett, who made his Spurs debut at age 16.
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