Tottenham are set to challenge Liverpool for the signing of Hamburg frontman Son Heung-Min, while Swansea could usurp the Reds to the signature of Thomas Ince.
Liverpool were closely linked with a move for the South Korean in the summer, but now Spurs have joined the list of interested parties and are ready to make an £8 million ($13 million) bid, according to German newspaper Bild.
Heung-Min is a versatile forward, capable of playing on either wings or up front on his own, and has impressed everyone with his creativity and goalscoring prowess this season.
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The forward has scored six goals in 16 matches this year, despite playing in a wide role more often than not. Former Spurs player Rafael Van Der Vaart said he would not be surprised if Tottenham made a bid for the player.
"Spurs are always searching for the best young talent -- that is why every year they are near the top," he told the Bild.
Meanwhile, Liverpool could lose out on another target, with Swansea ready to make a £7 million ($11 million) offer to Blackpool for Ince, according to talkSPORT.
Liverpool, despite dragging on the negotiations for quite a while now, were thought to be close to finally agreeing a deal for around £6 million ($9.5 million).
However, with Swansea ready to offer more for the winger, Liverpool will have a fight on their hands to land the coveted Championship star, despite Ince reportedly preferring a move to Anfield.
A player who is on his way from Liverpool is Nuri Sahin after the Turkish midfielder ended his unsuccessful six-month stay at Anfield by agreeing to join former club Borussia Dortmund on an 18-month loan deal.
The Real Madrid midfielder was brought to Liverpool on a season-long loan amid much fanfare, but failed to settle to the pace of the game in the English Premier League.
With Brendan Rodgers having plenty of options in the center of the park, Liverpool were keen to cut short Sahin's stay to reduce their wage bill and they have done just that with Sahin jumping at the chance of rejoining his old club.
"We told Real to give us a sign if it was possible to bring Nuri back," Dortmund director Hanz-Joachim Watzke said.
"We have taken Nuri on loan for 18 months. He left no doubt about the fact that he wanted to play here again.
"He is here for 18 months, and regarding the option to buy him, we're in the driving seat," he affirmed."
Sahin said he was desperate to go back to Dortmund after an underwhelming season with Real Madrid.
"I realised that as a footballer and a human being, I belong here 100 percent," Sahin said. "Talks with Dortmund started a week ago. Then, two days ago, we got the signal (from Real).
"I want to help the team. I am still able to play football. I noticed quickly that I only want to play for Dortmund. I am a better player now, even though I didn't get much playing time."