London, Jan 20: Ashley Cole agrees mega deal at Chelsea, Lampard will choose between AC Milan and LA Galaxy, Balotelli wanted by Milan, Barcelona eye Liverpool's Reina, Guardiola want Suarez at Bayern, Tevez rejects new deal, all the transfer news and rumours from the Barclays Premier League on Jan 20.
Chelsea left-back Ashley Cole has agreed a new one-year contract worth £8million. Cole, 32, will snub Real Madrid and Paris Saint-Germain to stay at Stamford Bridge. The England international is out of contract at the end of the season and was linked with a move to Manchester United.
Frank Lampard could move to Italy with AC Milan in pole position to sign the veteran midfielder. Lampard, 34, will snub LA Galaxy and join the Serie A giants in order to save his England career.
AC Milan are ready to sign Manchester City striker Mario Balotelli for a cut-price deal. City are reportedly asking £31million for the striker but AC Milan vice-president Adriano Galliani is not ready to meet that asking price.
Barcelona have set their sights on Liverpool goalkeeper Pepe Reina after Victor Valdes announced that he will not renew his contract which ends in 2014. Valdes, 31, will stay at the club until his contract ends but Barca will move in for his replacement. Reina, 30, fits the bill as he was part of the clubs academy.
The Catalans are also ready to offer £10m for Chelsea's stopper Thibaut Courtois currently playing on loan at Atletico Madrid
Newcastle United have agreed a £6.7m fee for Montpellier defender Mapou Yanga-Mbiwa. The Magpies are in the hunt to replace skipper Fabricio Collocini who is unsettled at the club.
Tottenham are planning to bid for QPR's £8million target Yann M'Vila from Rennes. Spurs need reinforcements in midfield after Sandro was ruled out of the rest of the season following knee surgery.
New Bayern Munich manager Pep Guardiola is set to make Liverpool striker Luis Suarez and Atletico's Radamel Falcao his top targets when he joins the Bundesliga giants in July.
Carlos Tevez has rejected a contract extension with Manchester City. The Argentine is ready to see out his contract which expires in 2014 before joining Boca Juniors.
Stoke City have slapped a £4.5m price-tag on striker Kenwyne Jones who is target for Swansea City.
Former Liverpool manager Rafa Benitez revealed he tried to buy Santi Cazorla during his reign at Anfield but couldn't afford the Spanish playmaker.
Manchester Untied boss Sir Alex Ferguson admitted he missed on signing Tottenham's Welsh winger Gareth Bale.
Manchester United's move for Wilfried Zaha could collapse after Crystal Palace rejected a £10m offer for the 20-year old. The deal may stretch until the summer unless Arsenal are interested.
Steven Gerrard feels Liverpool need two more 'big players' to challenge at the highest level.