The transfer window may not open again until January 1 2018 but that hasn’t put an end to plenty of speculation throughout Europe.

Here, we take a look at three big stories dominating the headlines on Wednesday.

Will any of the following deals happen?

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REAL MADRID SET TO INVEST IN JANUARY

Los Blancos are set to raid the January transfer market with boss Zinedine Zidane being given funds by president Florentino Perez to strengthen his squad.

According to Marca, the Whites want to freshen things up in the window following an indifferent start to the season.

While it has not yet been disclosed precisely which options Real are looking at, funds are there, as always, to lavish should the right candidate be available.

RATING: 8/10

SPORT360 VERDICT

Madrid want to keep last season’s double-winning squad together, and as such, there is not expected to be any movement through the exit door, but incomings are very likely.

The man with the money: Florentino Perez.

BARCA SET TO STEP-UP OZIL CHASE

Barcelona are ready to progress negotiations with Arsenal playmaker Mesut Ozil, and are hopeful talks could start in January.

The German star, who is out of contract at the end of this season, is available to speak to other clubs in the New Year and there is so far no agreement in place between the player and Arsenal that he will sign a new deal.

Gunners boss Arsene Wenger has admitted recently he is unsure where Ozil’s future lies – opening the door to Barca to pursue the former Real Madrid star.

While Arsenal have naturally denied any agreement with Blaugrana is in place for the 29-year-old, Ozil, himself, has yet to discuss his next move.

RATING: 7/10

SPORT360 VERDICT

Whether or not the ex-Los Blancos star is what Barca need is open for debate but there’s no doubting his supreme talent. While the interest from La Liga is likely to rumble on, it’s down to Ozil now to decide where his future lies. It does, though, look increasingly unlikely that’ll be at the Emirates Stadium.

Ozil is out of contract at the end of the season.

ARSENAL AND LIVERPOOL BATTLE FOR DRAXLER

Julian Draxler could leave PSG in January, according to the Daily Mirror.

The talented attacker has found it difficult to nail down a regular first-team spot with the Parisian side since his arrival in January of this year.

The signings of Neymar and Kylian Mbappe have of course also added more competition in forward areas, making it tough for Draxler to acclimatise to the Parc des Princes outfit.

Interest from both the Gunners and Merseysiders could convince PSG to cash in sooner rather than later – despite the German’s lengthy contract until 2021.

RATING: 7/10

SPORT360 VERDICT

While Liverpool aren’t short of creative attacking talent, Arsenal may well be come the end of the season – especially if Ozil and Alexis Sanchez both depart on a free.

Draxler has failed to settle in the French capital and it wouldn’t be surprising to see him move on even if it was for a fraction of the £30m fee PSG paid to Wolfsburg earlier in the year.

Time to move on? Draxler.