Bolton underlined the grim financial reality of Premier League relegation by revealing crippling debts of £163.8million.
West Ham boss Sam Allardyce is making an £8million move for Southampton's England striker Rickie Lambert.
Brendan Rodgers wants to sign Chelsea's out-of-favour left-back Ryan Bertrand but could face competition from Merseyside rivals Everton.
Chelsea have abandoned their long-standing target of breaking even after recording a loss of £49.4 million for the year ending June 2013.
Ian Rush last night claimed Luis Suarez has a whopping £120million get-out clause in his new deal.
Chelsea go into the New Year nearly £50million in the red.
Wesley Sneijder's hopes of a switch to Manchester United in January have been dashed.
Jose Mourinho was given a stark reminder yesterday that the days of virtually limitless spending at Chelsea are over when the club posted a huge annual loss of £49.4 million but still promised to meet Uefa's strict new financial rules.
Cardiff want their new manager in place before Saturday's FA Cup trip to Newcastle and club sources say Ole Gunnar Solskjaer is still in the frame.
West Ham are set to sign Everton utility man John Heitinga.
West Ham are ready to change their transfer policy and make an £8million move for Southampton striker Rickie Lambert in a bid to avoid relegation.
Georgios Samaras has emerged as a shock transfer target for Spanish title contenders Atletico Madrid.
Dundee United are bracing themselves to lose starlets Stuart Armstrong, John Souttar, Gary Mackay-Steven, Andy Robertson and Ryan Gauld in January with Celtic and a string of Premier League clubs ready to pounce.
Kenny Miller has pleaded with Ally McCoist to re-sign him at Rangers.