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Roman Abramovich has stepped in to push Chelsea in the right direction over Radamel Falcao as the Daily Mail reports that the Russian owner is prepared to offer a staggering £10m-a-year contract to the Atletico Madrid striker. The astronomical salary would have to be preceded by a hefty transfer fee to begin with as the Blues are fighting Real Madrid for the Colombian’s signature.

The Mirror reports that Liverpool, currently in 10^th spot in the standings, have legitimate fears that Theo Walcott will not even consider them as an option if he does leave Arsenal in January due to the lack of Champions League football, thus putting Chelsea and Man United at the head of the queue for the winger. United could also be in the market for a winger should Nani be allowed to leave in the winter, with the Corriere Dello Sport claiming that Roma are interested in taking the out-of-favour Portuguese star to his preferred Serie A.

The Sun has more news on the Walcott transfer saga, declaring Chelsea as the overwhelming favourites to sign the 23-year old England international. - new

Frank Lampard’s long and illustrious association with Chelsea is nearing its end and the player himself seems to have reached the acceptance stage as he admitted to the press after Chelsea’s win at the Club World Cup that he could wave goodbye to Stamford Bridge. With a contract extension offer yet to arrive from the club, Lampard said this: “Maybe things don't last for ever. Although I want it to last for ever, you have to be big enough to know what it is.” LA Galaxy, PSG, clubs in China and Russia were all spotted quietly applauding. (read more)

Sir Alex Ferguson has been stockpiling young centre-backs over the last few years and the Metro reports that he is set to add another name to the list in the form of Jonathan Tah, Hamburg’s highly-rated 16 year old. The teenager has reportedly been tracked by Bayern Munich and Arsenal too but the Red Devils seem to have the upper-hand at the moment.

It has been a very bad week for Arsenal and the bad news keeps coming in at a fast pace as the Metro reports that Klaas-Jan Huntelaar’s agent declared that his client would prefer a move back to Milan if and when he leaves Schalke. Arsenal and Liverpool were biding their time to make a move for the Dutch goal-poacher whose contract expires in the summer but as things stand Inter Milan excite him more than the Premier League duo. (read more)

The power struggle in the Arsenal boardroom has played a huge part in the club’s current crisis but so has the absence of former legends walking down the halls at Emirates. Alisher Usmanov, one of the larger shareholders at the club, told the Daily Mail that he would love to have Thierry Henry back the club but not as a player, rather in a coaching role. The New York Red Bulls striker is close to agreeing a loan-deal for the 2^nd half of the season but whether that could extend into something more substantial upstairs remains to be seen.

Spicy Rumour

Dutch midfielder Kevin Strootman is back in the news today with the Sun declaring that Manchester United and Arsenal are battling it out for the PSV man's signature. The only thing new about this story is the fact that a £17 million fee is being quoted for the 22-year old. - new

Chelsea have joined the ever-growing list of admirers for the talents of Malaga’s Isco as the Metro reports that the Blues want to add yet another slick attacking midfielder to an already crowded pack at Stamford Bridge. And that magical figure of £17m again is what it will take to pry the 20 year old from Malaga with Man City also sniffing around the Spaniard.

Liverpool are in a conundrum according to TalkSport as they are unable to read between the lines after it was reported that Barcelona tied down Cristian Tello until 2016. The Reds aren’t sure if they should give up the chase for the 21 year old or consider Barca’s addition of an £8m release clause as a tease. (read more)

QPR’s relegation worries will prey on the minds of the European imports at the club and the Evening Standard report that Fiorentina could take advantage of the situation by making a £5.6m move for Esteban Granero.

Sounds Realistic

Everton will not be making a 3^rd consecutive move for London Donovan in the January window according to the Liverpool Echo, who report that David Moyes is happy with his attacking players after a splurge of sorts over the last calendar year.

Fulham skipper Brede Hangeland is making news after a long interval. The 31-year old defender was linked with a move to Arsenal many moons ago. The Norwegian international's contract is expiring in the summer and despite rumours of interest from all over the league, Martin Jol has told the London Evening Standard that he believes his skipper will be going nowhere. - new

Swansea are looking to bolster their defence in the winter by moving for West Brom youngster Craig Dawson says the Daily Mail. Dawson has failed to command a starting berth at the Hawthorns, and Michael Laudrup hopes that the opportunity to play regularly at the Liberty Stadium will entice the England Under-21 international into making a move. - new

And finally, Roberto Martinez continues to deny speculation that star midfielder James McCarthy will be leaving Wigan this winter. The Daily Star though reports than Brendan Rodgers continues to keep a close eye on the youngster, who has also attracted interest from Arsenal. - new