The days are fast ticking down until the transfer market reopens for business in the summer, meaning that speculation continues to intensify.

Here, Sports Mole takes a look at all of the latest news and gossip doing the rounds with just three months to go before the window swings open once more.

Wednesday morning's headlines:

Report: Alvaro Arbeloa to swap Real Madrid for Liverpool
Liverpool are looking to bring former defender Alvaro Arbeloa back to Anfield from Real Madrid in the summer for a fee of £3.5m, according to reports. Read more.

Manchester City keen on Toby Alderweireld?
Manchester City are understood to be interested in signing Atletico Madrid defender Toby Alderweireld. Read more.

Report: Liverpool, Manchester United battle for Dani Alves
A report claims that Liverpool will go head to head with Manchester United for the signing of Barcelona full-back Dani Alves on a free transfer this summer. Read more.

Stephan El Shaarawy "gratified by Arsenal's interest"
AC Milan forward Stephan El Shaarawy welcomes reported interest from Arsenal. Read more.

Manchester United duo among Arsenal's defensive targets?
Manchester United defenders Chris Smalling and Jonny Evans are reportedly potential transfer options for Arsenal. Read more.

Arsenal to sign Borussia Dortmund's Neven Subotic?
Arsenal manager Arsene Wenger identifies Borussia Dortmund defender Neven Subotic as one of his main transfer targets for the summer, according to a report. Read more.

Wolfsburg boss Dieter Hecking plays down Kevin De Bruyne exit
Wolfsburg boss Dieter Hecking states that Kevin De Bruyne will not be leaving the club for Manchester United or Chelsea because he is settled in Germany. Read more.

Report: New West Ham United deal for Aaron Cresswell
In a bid to warn off potential suitors, West Ham United are reportedly ready to offer left-back Aaron Cresswell a new contract. Read more.

Report: Everton want Loic Perrin
A report claims that Everton want to sign Saint-Etienne defender Loic Perrin this summer. Read more.

Pedro admits unhappiness
Spanish attacker Pedro hints that he will look to leave Barcelona this summer in search of first-team football. Read more.

Angelo Henriquez wants Dinamo Zagreb stay
Manchester United striker Angelo Henriquez admits that he is eager to stay on loan with Dinamo Zagreb. Read more.

Newcastle United eye Levante midfielder Victor Camarasa?
Newcastle United are reportedly lining up a £5m summer move for Levante midfielder Victor Camarasa. Read more.

Wes Brown 'in talks over new Sunderland contract extension'
A report claims that Wes Brown is locked in talks with Sunderland over a new 12-month contract extension to keep him at the club until the end of next season. Read more.

Gus Poyet unsure over Danny Graham future
Sunderland boss Gus Poyet says that it is too early for him to make a decision on Danny Graham's future with the club. Read more.

Mattia Perin: 'It would be hard to turn down Inter Milan move'
Genoa goalkeeper and reported Liverpool target Mattia Perin admits that he would find it difficult to reject a move to Inter Milan. Read more.

Bolton Wanderers bring in Paddy McCarthy from Crystal Palace
Championship side Bolton Wanderers add Crystal Palace defender Paddy McCarthy on loan for the rest of the season. Read more.

Burnley sign Norwegian international midfielder Fredrik Ulvestad
Burnley sign Norwegian international midfielder Fredrik Ulvestad on a free transfer. Read more.

Gary Bowyer rubbishes Blackburn Rovers exit for Jordan Rhodes
Blackburn Rovers manager Gary Bowyer insists that Jordan Rhodes isn't going to be loaned to one of the club's Championship rivals. Read more.

Sheffield Wednesday boss Stuart Gray hopeful of summer spending
Sheffield Wednesday boss Stuart Gray is hopeful being given significant funds during the summer transfer window. Read more.

Uche Ikpeazu returns to Watford as Doncaster Rovers loan is terminated
Watford striker Uche Ikpeazu returns to Vicarage Road after his loan at Doncaster Rovers is terminated. Read more.

Kilgallon keen to sign new Rovers deal
Matthew Kilgallon confirms that he is eager to sign a new Blackburn Rovers contract before the end of the season. Read more.

Thomas Rogne makes Wigan Athletic exit
Wigan Athletic announce the departure of Norwegian international Thomas Rogne after almost two years at the club. Read more.

Michael Bostwick signs new Peterborough United deal
Peterborough United midfielder Michael Bostwick signs a new deal at London Road until the summer of 2018. Read more.

Gillingham release Amine Linganzi
Gillingham opt to release midfielder Amine Linganzi from his contract with the League One club. Read more.

Paul Downing eager for new Walsall deal
Walsall vice-captain Paul Downing admits that he is hoping to sign a contract extension with the club. Read more.