Cash-strapped Portsmouth will listen to offers for their entire squad as they look to solve their crippling financial problems.

That news is sure to alert Manchester United boss Alex Ferguson, who will now make a move for goalkeeper David James.

But there has been a blow for Ferguson, who has been told he will have to pay £40m for Marseille winger Hatem Ben Arfa.

Manchester City are set to sign former Arsenal midfielder and Patrick Vieira from Inter Milan. City boss Roberto Mancini is also expected to land Palermo centre-half Simon Kjaer for £18m.

A player who could be on his way out of Eastlands is Roque Santa Cruz, with Espanyol keen to sign the Paraguay on loan.

Arsenal manager Arsene Wenger is tracking CFR Cluj's 6ft 8ins Ivorian striker Lacine Traore.

Tottenham are ready to offer captain Robbie Keane as bait to secure a deal for Aston villa striker John Carew. But Middlesbrough also fancy the Irishman.

New Preston boss Darren Ferguson could hijack Coventry’s move for Stockport striker Carl Baker.

West Ham hope to wrap up a loan deal for Fiorentina's former Chelsea striker Adrian Mutu early next week.

Birmingham boss Alex McLeish has launched a £9m bid for Sunderland striker Kenwyne Jones.

McLeish, meanwhile, is set to improve his offer for Liverpool forward Ryan Babel from £8m to £10m.

Bolton could make a move for Eskisehirspor's Bosnia defender Safet Nadarevic, who is due for talks with Bolton on Monday.

Newcastle will target Napoli's Ezequiel Lavezzi, nicknamed 'the Tank', if they make it back to the Premier League but the Italian club want more than £5m for their striker.

Magpies boss Chris Hughton has received a setback after Sheffield United centre-back Matt Kilgallon decided he will remain at Bramall Lane until his contract expires in the summer, despite the clubs having agreed £2m fee.

Sheffield United want to take Kyle Naughton back from Tottenham on loan - the full-back has played only once since his joint £12m summer transfer with Kyle Walker.

LA Galaxy midfielder David Backham may have nowhere to play once his AC Milan loan deal ends in May because Major League Soccer faces a strike. International players union DIDPro is deadlocked in talks with MLS about a new deal for all players in the United States and the league is threatening a lock-out if a new contract is not signed by 31 January.