It's reported in Brazil that Bayern Munich are set to make a huge offer for Leeds United star Raphina in January.
The winger has eight goals and an assist in the English Premier League so far this season, a rare bright spark for Marcelo Bielsa's men.
According to TnT Sports in his homeland though the Brazilian could well be on the move this month, with Bayern ready to offer €50million (£42m) to sign him.
Elsewhere Manchester United could be rivalled for Marseille talent Boubacar Kamara by Serie A giants Milan.
It's reported the midfielder has no intention of renewing his contract so OM have put him up for sale this winter.
Italian outlet Calciomercato believes Milan are monitoring the situation closely, with United and Newcastle also keen.
One name that's sure to dominate the headlines coming out of Old Trafford this month is Paul Pogba.
His contract expires in the summer and so far there has been no agreement on a renewal.
Agent Mino Raiola has refused to rule anything out, including an extension, but Pogba will be free to talk to other clubs from January 1 and you can bet his representative will be taking full advantage of that.
Another Raiola client, Matthijs de Ligt, could also be on the move.
The super agent has publicly stated it may be time to leave Juventus, with Barcelona and Real Madrid interested.
There's sure to be interest in England too, but Juve will drive a hard bargain and he'd cost in excess of £100m.
At the other end of the scale, the Bianconeri could allow Aaron Ramsey to leave for free in January.
They're desperate to get his €7m net per season wages off the books and are hoping the Welsh international can find a deal with Newcastle or Everton.
They're also sweating over the future of Paulo Dybala, who is out of contract in the summer.
Tottenham are sure to have a busy window as they look to bolster Antonio Conte's squad.
Shopping in Serie A would make sense given their manager and sporting director, Fabio Paratici, know the market so well.
The league's top-scorer Dusan Vlahovic has been linked and will not sign a new Fiorentina contract but competition will be fierce for the Serb.
Manchester City, Arsenal and Juventus have all been linked.
Barcelona are on the verge of completing a deal for City's Ferran Torres as they look to rebuild under Xavi.
There will have to be sales due to their delicate financial situation, with Serginho Dest told he's surplus to requirements and Luuk de Jong likely to be loaned to Cadiz.
Barça are also looking for an experienced goalscorer to replace Sergio Aguero after he was forced into early retirement.
Cavani could be their man and would be relatively cheap with just six months left on his Manchester United deal.
The dream signing for clubs across the continent would be Erling Haaland, though it would take a huge offer for Borussia Dortmund to sell in January.
His agent has linked him to Barcelona, Real Madrid and Manchester City and will be hard at work to find the right move. The agent in question? That would be one Mino Raiola...
The Dutch-Italian agent is busier than Santa Claus at this time of year, and will also hold talks with Milan over a new deal for 40-year-old Zlatan Ibrahimovic.
Finally, Real Madrid can make an official approach for Kylian Mbappe as soon as next month.
His Paris Saint-Germain contract is expiring on June 30 and the Spanish giants have made clear they want him at all costs, with two bids turned down in the summer.
