Chelsea striker Fernando Torres is understood to be set for a return to Atletico Madrid, according to Sky sources.
Mark Hughes insists Stoke will not be looking to make any major additions in the January transfer window.
Watford striker Chris Iwelumo has joined Oldham on loan until the end of the season.
The 34-year-old joined Watford in 2011 and scored five goals in 47 appearances before playing five times for Notts County on loan earlier on this campaign.
Iwelumo has four Scotland caps to his name and counts Stoke, Colchester, Charlton, Wolves and Burnley as former clubs.