Transfer news LIVE: Liverpool set to sign Luis Diaz ahead of Spurs as Arsenal plot late deals

LIVE – Updated at 12:58

The January transfer window is approaching its climax and several clubs are making significant moves to bolster their squads for the second half of the season.

After Tottenham had a bid rejected for Porto’s Luis Diaz, Liverpool have definitively joined the race to sign the Colombian winger and Jurgen Klopp’s side are expected to seal a deal worth around £50m including bonuses for the 25-year-old. The news comes as another major blow to Spurs, who are also set to miss out on long-term target Adama Traore, with the Wolves winger flying to Barcelona on Friday to complete a medical ahead of a loan move to his boyhood club. Towards the bottom of the Premier League, Newcastle are hoping to finalise the headline signing of Bruno Guimaraes from Lyon, while Burnley close in on Mislav Orsic and Wout Weghorst.

Meanwhile, in Europe, Dusan Vlahovic has arrived in Turin to complete his medical ahead of the striker’s move to Juventus. Arsenal’s failed pursuit of the Serbian has left the club frantically searching for a new striker before the deadline, with both Alexander Isak and Jonathan David set to remain at their clubs until the summer.

Follow all the latest transfer news and updates below:

The rumour mill is always in motion when it comes to football but during a transfer window it goes into hyper speed.

This time it has spilled out a report that Matty Cash is going to move from West Ham to join Atletico Madrid. The Sun says the Spanish side are targeting a summer deal.

The club are looking for a replacement for Kieran Trippier, who moved to Newcastle. Madrid are thought to be willing to spend around £30m in the next window to get the move done.

Newcastle are struggling to get deals over the line in this