Fulham have reportedly turned down an offer from Palmeiras for midfielder Andreas Pereira.
It was reported in December that the Brazilian club were interested in signing the former Manchester United midfielder.
According to BBC Sport, Palmeiras have formalised their interest with a transfer bid worth up to £16.5m.
However, Fulham have subsequently turned down the offer, as they look to retain a player who has been a regular feature in Marco Silva's side this season.
Pereira has started 15 of his 17 Premier League appearances this season, chipping in with two goals and one assist.
Silva seemingly views Pereira as a key part of his midfield, but Fulham may have to fend off another bid from Palmeiras.
There is a belief that they could return with a fresh offer for Pereira, raising doubt about whether he will still be at Craven Cottage at the end of the transfer window.
Arrizabalaga wants permanent Bournemouth move
Meanwhile, Kepa Arrizabalaga is reportedly keen to convert his loan to Bournemouth into a permanent deal.
The 30-year-old is currently in the middle of a season-long loan deal after arriving from Chelsea in the summer transfer window.
Arrizabalaga, who spent last season on loan at Real Madrid, has established himself as the first-choice goalkeeper in Andoni Iraola's side, keeping four clean sheets in 14 Premier League appearances this season.
The shot-stopper has been one of the main factors behind Bournemouth sharing the joint fifth-best defensive record in the Premier League with his parent club Chelsea.
According to The Sun, Arrizabalaga is now keen to join the Cherries on a permanent basis following his success in the first half of the season.
Arrizabalaga is aware that he has no future at Stamford Bridge despite signing a one-year contract extension before joining the Cherries.
However, Bournemouth are unlikely to offer more than £20m to sign the Spaniard if they decide to pursue a permanent deal, which would represent a significant loss for Chelsea after they paid £71.6m to recruit him from Athletic Bilbao in the summer of 2018.
Galatasaray join Sane race
Over in Turkey, Galatasaray are reportedly interested in signing Bayern Munich winger Leroy Sane when his current contract expires at the end of the season.
Sane's contract situation has led to rumours of a potential return to the Premier League amid reported interest from the likes of Arsenal and Manchester United.
According to journalist Florian Plettenberg, Turkish giants Galatasaray have now joined the race to sign the former Manchester City man.
However, the update claims that as it stands, Galatasaray have 'no chance' of signing the Germany international on a free transfer in the summer.
Sane is still hoping to reach an agreement with Bayern over a new contract, although the club's hierarchy are said to be hesitant about extending his deal.
The 28-year-old has tried to demonstrate his importance to Bayern in recent times, forcing his way back into the side to start the final four league games of 2024, scoring in both of their last two matches of the calendar year.