As the days tick down towards the end of the season, transfer news and speculation involving some of world football's biggest names continues to intensify.

With the emergency loan window for Football League clubs now officially shut, Sports Mole compiles all of the latest done deals and gossip with a little over two months to go before the summer market opens for business once more.

Friday morning's headlines:

Report: Marco Reus on Arsenal's radar as replacement for Theo Walcott
Marco Reus emerges as a big-money target for Arsenal this summer, with reports suggesting that Arsene Wenger is looking to offload Theo Walcott to make room in the squad. Read more.

Report: Manchester United delay Phil Jones, Chris Smalling contract talks
Manchester United risk losing Phil Jones and Chris Smalling on free transfers at the end of next season, with the club reportedly delaying talks over new deals. Read more.

Barcelona star Martin Montoya 'open to Liverpool switch this summer'
Liverpool target Martin Montoya tells Barcelona that he wants to end his Camp Nou career this summer in order to find more regular playing time, a report claims. Read more.

David Alaba closes in on Real Madrid move?
The father and agent of Bayern Munich youngster David Alaba reportedly holds talks with Real Madrid representatives over a potential move for the versatile star. Read more.

Liverpool join four-way chase for Swansea City's Neil Taylor?
Liverpool reportedly join the race to sign Swansea City defender Neil Taylor, who has just over one year remaining on his contract. Read more.

Morgan Schneiderlin open to Southampton exit to fulfil Champions League dream
Morgan Schneiderlin admits that he is open to leaving Southampton this summer in order to fulfil his ambition of playing in the Champions League. Read more.

Real Madrid's Sami Khedira denies any agreement with potential new club
Real Madrid midfielder Sami Khedira denies that he has reached an agreement with any club about a free transfer in the summer. Read more.

Report: Xavi agrees three-year deal with Qatari club Al Sadd
Barcelona star Xavi reportedly agrees a three-year deal with Qatari club Al Sadd. Read more.

John Terry signs one-year contract extension at Chelsea
John Terry signs a new contract at Chelsea until the end of the 2015-16 season. Read more.

Eden Hazard would understand Petr Cech exit
Eden Hazard admits that he would not blame keeper Petr Cech if he opted to leave Chelsea in the summer after losing his place to Thibaut Courtois this season. Read more.

Graham Dorrans extends Norwich City loan until end of the season
Norwich City announce Graham Dorrans has extended his loan from West Bromwich Albion until May 25. Read more.

Nottingham Forest complete signing of Chuba Akpom on loan from Arsenal
Nottingham Forest announce the signing of Arsenal's Chuba Akpom on loan until May 31. Read more.

Reading secure loan signing of Crystal Palace forward Kwesi Appiah
Championship outfit Reading sign Crystal Palace and Ghana forward Kwesi Appiah on loan until the end of the season. Read more.

Dwight Tiendalli joins Middlesbrough on emergency loan from Swansea City
Swansea City defender Dwight Tiendalli joins Middlesbrough on an emergency loan until the end of the season. Read more.

Liverpool trio Jordan Lussey, Kevin Stewart, Jack Dunn leave on loan
Liverpool trio Jordan Hussey, Kevin Stewart and Jack Dunn are loaned out to Football League clubs. Read more.

Bournemouth snap up Kenwyne Jones for remainder of season
Experienced Cardiff City striker Kenwyne Jones joins fellow Championship side Bournemouth on loan for the remainder of the season. Read more.

Manchester United's Reece James joins Huddersfield on loan
Manchester United youngster Reece James joins Huddersfield Town on an emergency loan until the end of the season. Read more.

Blackburn Rovers seal Paul Taylor from Ipswich Town on emergency loan
Blackburn Rovers seal the signature of Paul Taylor from Ipswich Town on an emergency loan until the end of the season. Read more.

Fulham sign Danny Guthrie, Richard Lee on loan
Fulham announce the captures of Danny Guthrie and Richard Lee on loan from Reading and Brentford respectively. Read more.

Ipswich Town extend Luke Varney's loan from Blackburn until end of the season
Ipswich Town announce that Luke Varney's loan deal from Blackburn Rovers has been extended until May 2. Read more.

Jonny Williams returns to Ipswich Town for third loan from Crystal Palace
Jonny Williams returns to Ipswich Town for a third loan spell from Crystal Palace until the end of the season. Read more.

Watford's Diego Fabbrini seals emergency loan switch to Birmingham City
Birmingham City bring in Diego Fabbrini from Watford on a loan deal until the end of the season. Read more.

Ezekiel Fryers joins Ipswich Town on loan from Crystal Palace
Crystal Palace defender Ezekiel Fryers joins Ipswich Town on loan until the end of the season. Read more.

Barnsley sign Sheffield Wednesday goalkeeper Joe Wildsmith on loan
Sheffield Wednesday goalkeeper Joe Wildsmith, an England Under-20 international, joins League One outfit Barnsley on a month's loan. Read more.

Wolverhampton Wanderers keeper Jon Flatt joins Chesterfield on loan
Wolverhampton Wanderers goalkeeper Jon Flatt signs for Chesterfield on loan until the end of the season. Read more.