The January transfer window is a very exciting time for the fans who hope to see their clubs make new signings, on the other hand it is a stressful time for the clubs who have to make sure that they make the right decisions to begin the second half of the season on a high. Let's look at the top transfer news and rumours of the day,
5. Ben Davies
Crystal Palace have been hunting for a new left back ever since Pape Souare's car crash in September which placed his career in doubt.
The Daily and Sunday Express has revealed that new manager Sam Allardyce has identified his replacement, and has made enquiries about Tottenham's Ben Davies who has struggled for game time at Spurs and fallen behind Danny Rose in the pecking order.
Davies who has spent two years at White Hart Lane is in search of more first team football but with Tottenham participating in the Europa League it is unlikely they they will let him go this season.
4. Memphis Depay
Italian giants AC Milan have expressed an interest in signing want away Manchester United winger Memphis Depay as reported by Tuttosport.
Milan were originally interested in securing the services of Gerard Deulofeu from Everton but the winger has been taken off the market by the English side due to their failure to land Depay in the transfer market.
3. Dele Alli
Dele Alli's scintillating performances for Tottenham Hotspur this season has not gone unnoticed with a number of European heavyweights looking to add the English midfielder to their roster.
Real Madrid have already registered an interest in Alli and if the Mirror is to be believed than rivals Barcelona too have joined the race for the 20-year-old's signature. Alli who cost Spurs just £5m from MK Dons will not come cheap, with the North London side slapping a £70m price tag on him.
2. Andre Silva
Arsenal's hopes of signing Porto striker Andre Silva have been dealt a severe blow with the Portugese side apparently holding out for an offer from Spanish giants Real Madrid as reported by Daily Star.
The Gunners had hoped to secure the services of the highly rated 21-year-old for £20m but Porto are waiting for an offer from Real in the hope of bringing in more cash. The Portuguese side believe Madrid hold a genuine interest in signing Silva, and will launch an official bid in the summer transfer window once their transfer ban ends.
1. David Silva
Manchester City's influential play maker David Silva has insisted that he is 'very happy' and intends to honour his contract with the Citizens amid interest from cash rich Chinese Super League.
The 30-year-old who was signed from Spanish side Valencia 2010, has been a key figure for City during his time in the Premier League and has won two Premier League titles, two League Cups, one FA Cup and a Community Shield trophy so far with the Manchester club.