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 Friday.

Will any of the following deals happen?

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UNITED AND BALE HAVE PRE-CONTRACT AGREEMENT

Diario Gol claims Manchester United have a pre-contract agreement with Real Madrid’s Gareth Bale, who has long been admired at Old Trafford. Jose Mourinho tried to sign the Welshman last summer, only to be rebuffed, but since then, Bale’s stock has fallen at the Santiago Bernabeu, and Madrid have become much more likely to cash in on their club-record transfer.

RATING: 6/10

VERDICT: 

Mourinho has previously said that the club needed better wingers. Since then, however, Marcus Rashford and Anthony Martial have taken turns to display sizzling form out wide – not that that means there aren’t better players available at that position. Bale at his best would certainly be an upgrade, but his injury history has to be a concern even for a club and manager who have long wanted to see the 28-year-old in their colours. Given that United have also been linked with Antoine Griezmann and Ivan Perisic, Bale’s move is far from a done deal.

Gareth Bale’s injury history could be a cause for concern for United.

VALENCIA EMERGE AS SURPRISE SUITORS FOR THEO WALCOTT

Theo Walcott has been linked with a move away from England as El Gol Digital says Valencia are considering the Arsenal winger. The Englishman has been linked with several Premier League clubs, including Newcastle United and West Ham, although Arsenal manager Arsene Wenger said earlier this week that Walcott still has a future at the London side.

RATING: 4/10

VERDICT: 

It seems unlikely that Walcott would move away from England, where he is most comfortable and where his playing style is best suited. The 28-year-old has gamely hung on at Arsenal, where at times he has dazzled and at others has looked out of his depth, even after 11 years at the club. Valencia have shown with Simone Zaza that they can provide the perfect setting for a player to regain form and confidence, but if Walcott does choose to leave Arsenal, a move to another Premier League club is more likely.

Theo Walcott has been linked with a surprise move to La Liga title challengers Valencia.

MOURINHO READYING OZIL AS MKHITARYAN REPLACEMENT

Arsenal‘s Mesut Ozil is being lined up as a replacement for Manchester United playmaker Henrikh Mkhitaryan, according to The Daily Mirror. Mkhitaryan has fallen out of favour with United manager Jose Mourinho, who has worked with Ozil before at Real Madrid. The German is out of contract at Arsenal at the end of the season.

RATING: 7/10

VERDICT: 

It makes sense that Mourinho and United would turn to Ozil, despite his perceived defensive struggles in the Premier League seemingly a contrast to Mourinho’s philosophy. Mourinho is arguably the manager who has got the best out of Ozil, during the duo’s time together at Madrid, and both player and manager will know what they’re getting with each other. More importantly, the fact that the German will be available on a free at the end of the season makes him a more attractive option than someone like Paulo Dybala, who has also been linked with United.

Ozil and Mourinho have a good relationship from their time at Real Madrid.