Transfer news live - Arsenal's Vlahovic blow plus Liverpool and Man Utd latest

The January transfer window is rapidly progressing and there is a concerning update for Arsenal, who have reportedly been dealt a bitter setback in their pursuit of Mikel Arteta's priority target, Fiorentina ace Dusan Vlahovic.

Liverpool, who knocked the Gunners out of the Carabao Cup to reach the final on Thursday night, are said to be targeting two rising stars who could rejuvenate their attack for years to come.

Recruitment in the forward line may soon be needed as Roberto Firmino remains linked with a move to Barcelona.

Elsewhere, Manchester United playmaker Jesse Lingard could be on the way out of Old Trafford, but he is not convinced about the prospect of joining Newcastle.

The Magpies are believed to be pushing for deals for Sevilla's Diego Carlos and Bayer Leverkusen's Mitchel Bakker, while there are also updates on Tottenham and Chelsea.

Stay tuned right here throughout Friday for live updates on confirmed transfers and gossip from across the Premier League, Europe and beyond.

07:42Freddie Keighley

Xavi speaks on Dembele once again

Xavi insists he agrees with the decision to try and sell Ousmane Dembele in the January window after Barcelona's sporting director declared he would be offloaded.

The winger has failed to sign a new contract and, with less than six months remaining on his deal, the Catalans have decided to cash in.

Speaking after his side crashed out of the Copa del Rey against Athletic Bilbao on Thursday night, Xavi said: "Dembele is important but it's a club decision and we all agree - I don't think his absence has affected the team."

07:25Freddie Keighley

Ex-Man City star Mangala joins Saint Etienne

Former Mancehster City defender Eliaquim Mangala has joined Saint Etienne on a free transfer having left Valencia last summer.

The 30-year-old has signed a six-month contract.

Mangala will hope to strengthen his new club's bid for survival in Ligue 1, with Saint Etienne bottom of the table.

06:47Michael Gowler

Liverpool preparing £5m Carvalho bid

Having established himself as one of the hottest talents in Championship football this season, Fulham starlet Fabio Carvalho is reportedly attracting interest from Liverpool.

The 19-year-old has enjoyed a stellar season with the Cottagers, netting seven goals in 16 outings this campaign despite overcoming injury and Covid, and his fine form has caught the eye of Premier League admirers.

According to the Daily Express, the Reds have sent scouts to watch the teenager on numerous occasions this season and are prepared to make a £5million move this month, amid interest from West Ham.

06:19KEY EVENT

Arsenal suffer Vlahovic setback

Good morning and welcome to Friday's live transfer coverage - let's start with Arsenal and their pursuit of Fiorentina striker Dusan Vlahovic.

The Gunners have been pursuing him for many months and reports in Italy over the weekend claimed they have submitted an opening bid of £50million plus Lucas Torreira, who is on loan at La Viola.

Their hopes of pulling off the sensational transfer were further boosted as a Saudi suitor for Pierre-Emerick Aubameyang surfaced in midweek.

However, in a crushing update for Arsenal, Italian transfer guru Fabrizio Romano claims the Serbia international has not been swayed by Arsenal's overtures.

Instead, Vlahovic still intends to remain in Florence until the end of the season, when many clubs will join the race for his services.