Football news - Paper Round: Arsenal close in on Suarez transfer

Barcelona boss Ernesto Valverde has said midfielder Denis Suarez 'is on the verge' of joining Arsenal. The Mirror reports that Suarez has signed an extension on his contract to 2021 to preserve his resale value, and allow Arsenal to take him on loan for £2.2million with an option to buy for £20 million in the summer. Before signing a new contract, Barca had wanted an obligatory sale option at the end of the summer.

Paper Round's view: An option to buy will help both Barcelona and Arsenal. Unai Emery gets a chance to see if Suarez settles in the Premier League, and he has an option to buy the 25-year-old midfielder at a reasonable sum at the end of the season. For Barcelona, they don't have to worry about losing a player on the cheap, and can help the club meet its financial fair play obligations.

Manchester United will receive £8.5 million after Marouane Fellaini agreed a deal with Shandong Luneng. The move to the Chinese Super League will make the 31-year-old Belgian international midfielder one of the best-paid players in the world, as he will earn £9.5 million a year, the equivalent of £365,000 a week, according to the Sun. Fellaini had fallen out of favour with interim boss Ole Gunnar Solskjaer following his arrival after the sacking of Jose Mourinho.

Paper Round's view: Fellaini's contract at United was a depressing move, that a player of such limited ability was not let go in the summer because no replacement was found. With Solskjaer showing Old Trafford that such players are not needed to succeed, Scott McTominay can step up as an able deputy and it will also allow United to prepare for more transfers in the summer. Reinforcements in defence are needed, but losing Fellaini does not weaken the squad.

Newcastle United will break their transfer record to sign Miguel Almiron from MLS side Atlanta United. The 24-year-old Paraguayan international will join for around £20.5 million, according to the Daily Mail, breaking the £16 million that the club paid for Michael Owen in 2005. Almiron's agent had been in Italy to try to raise interest in his client but he now seems set for the Premier League.

Paper Round's view: With 13 goals and 11 assists in MLS last season, Almiron is the most promising talent in America. At £20.5 million, that is a large relative sum for Newcastle but overall it will be no disaster if he does not succeed. Owner Mike Ashley appears to have recognised that investment is needed to support Rafael Benitez if the club are to stay up for another season, which will help him finally sell the club.

Tottenham Hotspur could make a late signing in the January transfer window. The Telegraph claims that Monaco Youri Tielemans is a potential target, and available on loan on or for a fee of £20 million in a permanent deal. Daniel Levy is waiting for an answer from manager Mauricio Pochettino before attempting any deal to help replace Mousa Dembele, which could hijack Leicester City's move for the player.

Paper Round's view: Tielemans was one of the hottest talents in European football, but like the rest of the Monaco squad he has suffered with the downturn of form on the south coast. Spurs have a history of developing young players, but if he only joins on loan then it is hard to see how Pochettino will use him except in rare circumstances given the limited reward for integrating him into the squad.