Chelsea agree £35m Noni Madueke signing, targeting Yves Bissouma, Moises Caicedo, Franck Kessie and Weston McKennie

Chelsea are closing in on the £35-million signing of Noni Madueke from PSV Eindhoven as the west London club continues to spend freely in the January transfer window. The Telegraph reveal that Chelsea are keen to add a central midfielder to their ranks this month too. The Blues have approached rivals Tottenham Hotspur regarding a potential swap deal to sign Yves Bissouma, which would see Hakim Ziyech move to north London, but Spurs are reportedly to be unwilling to sell in January. Chelsea have had a £55-million bid rejected for Moises Caicedo by Brighton and are contemplating loan offers for Barcelona’s Franck Kessie and Juventus’ Weston McKennie.

Paper Round’s view: Chelsea are just throwing money about like it’s nothing. Madueke would be the club’s 15th signing since Todd Boehly-Clearlake Capital took over last summer and they still want to add more. Some parts of the squad probably did need a bit of a rebuild, but it seems like they have gone for a full rebuild and without even managing to sell many of their unwanted stars. Bissouma seems a bit ambitious as it would be dealing with a direct rival, while they seem to be outpriced by Enzo Fernandez and Caicedo. A short-term loan for McKennie or Kessie may prove the smarter option – especially if they are going to return for Fernandez and Caicedo in the summer as well as looking at other long-term targets like Jude Bellingham and Declan Rice. You just have to wonder how this is all in line with Financial Fair Play rules…

Newcastle United are keen to strengthen their squad in January as they continue to make a push for a top-four finish in the Premier League. The Telegraph reveal that the club’s priority is to sign a central midfielder, while there is also a desire to add cover for right-back Kieran Trippier. Chelsea trio Hakim Ziyech, Conor Gallagher and Ruben Loftus-Cheek are on their radar, while the Magpies could return for Everton’s Anthony Gordon despite having a bid rejected for the forward in the summer. Other centre midfield targets include Youri Tielemans and James Maddison of Leicester, Wolves' Ruben Neves and Manchester United's Scott McTominay.

Paper Round’s view: We all saw Newcastle United drastically change last winter after their takeover turned them into one of the richest clubs in world football overnight. The Tyneside club went out over the past two transfer windows and managed to bring some exciting talent to St James’ Park, but now they will be attracting even better players. Newcastle have a genuine chance of qualifying for the Champions League next season. If they need to spend a little more than they hoped in January, they should do it. They have a huge opportunity this season and the squad depth needs to be improved in case they suffer a key injury.

The Sun report that Newcastle are considering a move for Everton striker Dominic Calvert-Lewin this winter. The 25-year-old has barely featured for Frank Lampard’s side over the past two seasons due to a series of injuries. However, Newcastle have had a long-standing interest in Calvert-Lewin and the Sun reveal that Everton are “bracing themselves for bids” this month. The Tyneside club are willing to let striker Chris Wood leave for Nottingham Forest during the winter window and this could open up a spot in the squad for Calvert-Lewin.

Paper Round’s view: It’s not a bad position to be in when you can afford to drop £35 million on a third-choice striker replacement. As stated previously, Newcastle are in a very comfortable financial position. Calvert-Lewin would be a brilliant signing for the Magpies if he discovers his form of a few years ago. It’s been a tough couple of seasons for him and he has failed to find a consistent level. From his point of view, a move to Newcastle would be a strange one. Surely he would not start ahead of Alexander Isak or Callum Wilson. Calvert-Lewin should look to move somewhere he would be a guaranteed starter.

West Ham United have their eyes on Rafa Benitez should the club decide to sack David Moyes. The Star report that the Spaniard is the Hammers’ number one choice to replace Moyes, who is currently struggling at the helm in east London after a number of successful seasons. West Ham sit in the Premier League’s relegation zone after 19 matches and have not won a match since October. A defeat to fellow strugglers Everton this weekend could seal Moyes’ fate and Benitez would be in the frame to replace him.

Paper Round’s view: Benitez is a highly-rated manager but his reputation has taken a bit of a hit in recent years. The 62-year-old is no longer considered for roles at elite-level clubs and it seems like his jobs at Liverpool, Inter Milan, Chelsea, Napoli and Real Madrid were a lifetime ago. However, he does know the Premier League well and there is a very talented squad at West Ham. He should be able to steer them back to safety and try to build something positive ahead of next season. Unfortunately it just seems like Moyes is no longer getting the best out of his players and things have gone stale at the London Stadium.