Transfer Talk: Are Arsenal finally closing in on a powerful CM?

Oh Fernando, hopefully he has now found a home

Everyone knows that Arsenal need a Patrick Vieira type and they might finally be getting close to bringing one in. That and more rounded up by Alex Johnson.

Arsenal manager Arsene Wenger has agreed to meet Sporting Lisbon's 20million asking price for William Carvalho.

The 22-year-old midfielder has been subject to heavy interest from the Gunners for some time and has also been linked with Manchester United.

Arsenal appear to have taken the lead in the race for the player's signature however, with reports on Monday suggesting they will make a formal approach for him in January.

Talks broke down between the two clubs in the autumn, but it is thought Wenger has renewed hope of signing Carvalho following Sporting Lisbon's elimination from the Champions League at the group stage.

New Real Sociedad manager David Moyes wants to make Liverpool midfielder Emre Can his first signing in January.

The former Manchester United boss is preparing for his first transfer window in charge of the Spanish club and has set his sights on the Germany Under-21 international

The last of his three Premier League starts came in the defeat against Chelsea in early November and the Daily Mirror believes he could now be allowed to leave the club, despite arriving as a big-money signing from Bayer Leverkusen in the summer.

The same report claims Moyes is also monitoring Charlie Adam's situation at Stoke and is interested in a potential loan switch.

Elsewhere, Goal.com claims Chelsea are readying a 7.8million bid for Croatian forward Andrej Kramaric in January.

Stamford Bridge officials reportedly met with the player's agent and representatives from his club, HNK Rijeka, over the weekend to discuss terms.

Chelsea are believed to be very interested in the 23-year-old after sending scouts to watch him play in the Croatian top flight this season, where he is the top goalscorer with 21 goals in just 18 appearances.

Reports in Italy claim Liverpool right-back Glen Johnson will favour a move to Europe when his contract expires in the summer and Roma are the favourites for his signature.

The defender would join Ashley Cole at Stadio Olimpico, despite his former England team-mate's slow start to life in Serie A.

Finally, Fernando Torres is set to join Atletico Madrid on a loan deal until the end of the 2015-16 season.

The 30-year-old striker officially left Chelsea to join AC Milan on a permanent deal on Saturday, having spent the first half of the season on loan at the San Siro.

He will now spend the next 18 months at Atleti, the club where he started his career. The deal, which sees Alessio Cerci move in the opposite direction, is subject to Torres completing a medical in the Spanish capital.