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Ancelotti targets Raheem Sterling as the next Galactico signing

The transfer rumour mill rumbles on today as Real Madrid prepare to raid the Premier League for another superstar ...

Sterling is Real's most wanted

After a summer spending spree that saw Keylor Navas, James Rodriguez and Toni Kroos head to the Spanish capital, Real Madrid are once again on the prowl to add another beacon to their galaxy of stars.

The Liverpool Echo is reporting that Raheem Sterling is next on the Galactico wish list and that their efforts to sign the youngster have "stepped up" in recent days.

Real are no doubt sniffing around Sterling because his Liverpool contract expires in 2017 and he appears to be stalling on signing a new deal with the Anfield club.

Just where Sterling will slot into the Madrid formation is another matter altogether ...

Arsenal linked to French starlet

It's a headline that we've been able to use every month since 1996 -- Arsene Wenger is keen on bringing a French teen sensation to the Gunners.

Adrien Rabiot of Paris Saint-Germain is the youngster in question, with the 19-year-old keen to leave Paris according to The Daily Mail.

The French under-21 international has been unable to break into Laurent Blanc's first team and, with his contract expiring at the end of the season, would be available in January at a bargain price -- i.e., this deal has Wenger written all over it.

Milner on the move?

Another player whose contract expires at the end of the season is Manchester City's James Milner.

The 28-year-old English star made only 12 starts for City last season and The Manchester Evening News says that he's waiting to see if Manuel Pellegrini gives him a bit more of a go during this campaign before deciding on his future.

With FFP making more of an impact on transfers than ever before, and English players available only at a premium, Milner's chances of attracting a megadeal on the open market are good. It will be interesting to see if City can stump up enough cash to keep the Leeds United Academy product at Eastlands.