WEMBLEY, England - The expectant walk up Wembley Way. A sea of blue. Goosebumps on the neck as "Abide with Me" rings round the stadium. 

The magic of the FA Cup lives on and in prospect a David v Goliath clash which reflects the new realities of football.

Everton, fifth in the Premier League, take on Chelsea, just two places above them, but worlds apart in terms of resources and expectation.

Everton so short of players mid-season that they play for a while without a recognized striker with the invaluable Tim Cahill filling in admirably.

Chelsea, who could afford to leave Didier Drogba sulking on the sidelines until the arrival of Guus Hiddink re-energized the team.

Both he and Nicolas Anelka set to form a formidable partnership up front as Chelsea bid to shrug off the disappointments of losing out so narrowly to Barcelona in the Champions League, no disgrace there on reflection.

Everton chasing a first trophy under David Moyes and so deservedly in the final having beaten Liverpool, Aston Villa and Manchester United on the way to the Wembley showpiece.

It's not quite second-flight Sunderland upsetting all-conquering but unloved Leeds in 1973, or Wimbledon's Crazy Gang coming out on top against Liverpool, but an Everton victory would be still be against the odds.

The club's chiefs could not be more different. Everton's Bill Kenwright a theatrical impressario with a shrewd eye for a hit, in this case Moyes. Chelsea's Roman Abramovich a Russian billionaire with a ruthless streak who has dispatched Mourinho, Grant and Scolari and temporarily settled on Hiddink.

FA Cup victory for Abramovich would represent a morsel of consolation, for Kenwright it would be a full scale banquet.

But the FA Cup is no respecter of reputations and when the underdogs scored after just 25 seconds through Louis Saha's emphatic volley it was clear that Chelsea would have to work for their victory. 

The noise from the Everton fans reached a crescendo, but before long they were silenced as Florent Malouda crossed for Drogba to head home.

Poor Tony Hibbert was suffering from twisted blood syndrome on the left as he tried to cope with Malouda and was unceremoniously hauled off at half time to be replaced by little-known Dane Lars Jacobsen.

But the Chelsea second half substitution spelt out the gulf in quality in the two squads as German captain Michael Ballack replaced Ghana powerhouse Michael Essien.

Saha might have put the Toffees ahead for the second time but his header was over and soon afterwards Frank Lampard drove the winner past Tim Howard.

Malouda, who I thought should have been man of the match ahead of Ashley Cole, could have finished the game off with two more close efforts, the second possibly crossing the line off the underside of the crossbar (further proof if any needed for TV cameras to decide these close calls).

It was impossible not to feel sympathy for Everton and their fanatical fans, but Hiddink has worked his magic again, inspiring an underperforming big-name squad to step up to the plate.

It was no surprise that the biggest cheer of the afternoon was reserved for the Dutchman as he lifted the trophy.

What price Abramovich making him an offer he can't refuse to stay on at Stamford Bridge next season ?

While for teams like Everton, the FA Cup offers the best hope of silverware, aka Portsmouth in 2008, and that's why it's such a favorite with supporters and the players too, who for all their mega salaries and inflated egos just want to get their hands on a piece of history.

Stay up to date with all the comings and goings in the transfer window with CNN.com's daily wrap of the latest rumors and gossip from Europe's sports pages.

Liverpool's Xabi Alonso is said to be Real Madrid's main target.

The transfer window may be fast drawing to a close but Spanish giants Real Madrid are still on the hunt for some big January purchases.

Real, along with Manchester United are believed to be interested in Wigan's Antonio Valencia, but the English Premier League club has put a £18 million price on the midfielder, reports The Sun. After losing Emile Heskey, it seems they don't want to lose any more of their class players.

The Daily Mirror says Real Madrid are focusing most of their attention of Liverpool's Xabi Alonso, while there is also believed to be an interest in bringing Arsenal manager Arsene Wenger, the Gunners' captain Cesc Fabregas and AC Milan star Kaka to the Bernabeu.

Back to the English Premier League, where The Sun reports that the Shay Given move to Manchester City will be completed today for an estimated £8.5m.

After making a big impact for Blackburn in Premier League action on Wednesday night, there's more talk today that Roque Santa Cruz will be the subject of a £20m Tottenham bid before the window closes.

One thing that has gone quiet is suggestions that Liverpool and Chelsea are about to be sold - though nothing has been ruled out. If you want to read about how Middle Eastern investment is changing English football go to Football Fanzone.

Elsewhere, the Daily Mail reports that Chelsea are to sign AC Milan goalkeeper Marco Storari after Carlo Cuducini left for Tottenham, and the Daily Express says that in-form West Ham are interested in Inter Milan striker Mario Balotelli.

Stay up to date with all the comings and goings in the transfer window with CNN.com's daily wrap of the latest rumors and gossip from Europe's sports pages.

LONDON, England (CNN) – All the dancing, rumors, subterfuge, lies and (very) occasional actual transfers come to an end in but a few days time. But there's still time for a last minute flurry of activity with most of the juiciest action taking place at Manchester City and AC Milan.

First to Milan where attempts to sign David Beckham on a permanent deal are gathering pace. After announcing their interest in signing the midfielder earlier in the week, Sky Sports is reporting that AC Milan's vice chairman Adriano Galliani is deep in fractious negotiations with an unhappy LA Galaxy, warning that if no deal is struck this weekend then it never will.

"If Galaxy change ideas with Beckham then we will evaluate the situation and we will keep him," he said. "The player wants to stay with us, but he knows he has to return."

Even the Englishman has decided to get off the fence telling Il Corriere Della Sera that it would be "a dream" to move to the city full time. Still, Milan's football shirt manufacturers should be putting those bumper Beckham replica shirt orders on ice for a few days, just in case.

What do you think about the Beckham transfer saga?  Tell us on Football Fanzone.

La Gazzetta Dello Sport has had its hands full reporting on all the other (non-Beckham) transfer activity going on in Serie A. Cash rich UEFA Cup holders Zenit St Petersburg have put in a €10million bid for Juve's talented forward Vincenzo Iaquinta.

Which may add more grist to yesterday's frankly ludicrous transfer mill that West Ham United's in form striker Carlton Cole could be a target for The Old Lady. Their manager Claudio Ranieri used to coach Cole at Chelsea. It can't possibly be true, can it?

Over at Middle Eastlands this week's ongoing transfer saga revolves around Newcastle United's want away goalkeeper Shay Given who, The Times reports, is angry that a deal between the two clubs cannot be made. Oddly, Manchester City seem to be getting shy about throwing around their cash.

Initially the club offered just £3 (€3.24) million before making a final £5 (€5.39) million take-it-or-leave-it bid, far less than the £10 (€10.78) million originally mooted in the press. Which is quite frankly a derisory sum given that (a) Given is arguably currently the form goalkeeper in Europe and (b) Sunderland's Craig Gordon cost £9 (€9.71) million. £9MILLION! Still CNN can only thank Manchester City for their continued ability to stir controversy. Without them we'd have nothing to write about.

Elsewhere one of Europe's great enigmas might be moving to the Premiership after being linked with over a dozen clubs during every single transfer window over the past half decade. The Argentine striker Javier Saviola was (rightly) lauded as a potential world beater but poor form, perceived indifference and an inability to hold down a regular starting place at both Barcelona and Real Madrid has seen his stock fall faster than a suicidal Wall Street trader.

In fact, it has fallen so far that he is apparently considering a move to Portsmouth, according to The Express. But if you happen to be reading Marca, they insist that the current Real Madrid forward may well be used as a makeweight in the deal to take Wigan Athletic's Antonio Valencia to the Bernabeu. Talk about being stuck between a rock and a hard place...

Stay up to date with all the comings and goings in the transfer window with CNN.com’s daily wrap of the latest rumors and gossip from Europe’s sports pages.

Is Robbie Keane ready to leave Liverpool?

The future of Liverpool's £20 million man Robbie Keane is uncertain today after he was not at Anfield for his side's 1-1 FA Cup draw with Everton.

Various media are speculating that the Republic of Ireland international is hoping to leave Liverpool after he was replaced on the bench for Sunday's game by Frenchman David Ngog.

The Daily Mirror says Newcastle goalkeeper Shay Given is all but signed for Manchester City in a £10m move, with officials reportedly meeting Monday to tie up the deal.

On Sunday, the News of the World reported that Arsenal are keen to sign Manchester City defender Micah Richards. Richards, an England international, could make the transfer for about £7m.

Another Manchester City star, Robinho, is apparently back in his club's town and scheduled to have talks with manager Mark Hughes after his controversial departure from the team's training camp in Tenerife, according to The Sun.

The Sun also reports that Portsmouth boss Tony Adams is set to announce a £4m offer to buy Joey Barton from Newcastle.

Sunderland's Pascal Chimbonda is believed to have settled his £3m return to Tottenham.

And in Italy there's no shortage of talk about David Beckham's possible desire to stay at AC Milan after he scored in the team's 4-1 Serie A win over Bologna at the weekend.

If you want to debate what David Beckham should do, whether players should be able to change countries, or tell us how much it costs to support your football team: tell us at Football Fanzone!

Stay up to date with all the comings and goings in the transfer window with CNN.com’s daily wrap of the latest rumors and gossip from Europe’s sports pages.

Having fun? Is David Beckham considering staying with AC Milan?

LONDON, England – In Italy there is renewed talk today that David Beckham may be considering leaving his L.A. Galaxy contract to stay at AC Milan.

Beckham is currently at the San Siro on a two-month loan deal, but Italy's Gazzetta Dello Sport reports that Beckham may want to stay as he has been making an effort to study Italian and is loving his time with the Rossoneri.

The paper suggests that Beckham may be willing to make the financial sacrifice of leaving the Galaxy to further his hopes of playing for England in the 2010 World Cup.

What do you think David Beckham should do? Tell us on Football Fanzone.

There's more talk about Chelsea striker Didier Drogba leaving for Manchester City today - and now we're getting down to figures.

According to The Sun, Manchester City have offered Drogba a £180,000 per week salary - which would double his current earnings at Chelsea.

While Drogba looks set to leave Stamford Bridge after an unhappy season so far, there's talk that owner Roman Abramovich could also be on his way out. The Daily Star reported that a group of German investors have compiled a £750m bid for the London club - which could tempt Abramovich given the current economic climate and the reported losses he has suffered.

Back on the pitch, the other major deal that is apparently closer to being realized is Arsenal's move for Andrei Arshavin. The Daily Mail says the deal should be completed within 48 hours after Arsenal put forward an improved £15m bid for the Zenit St Petersburg star.

In The Sun, Aston Villa manager Martin O'Neill is claiming he has secured the services of Wigan striker Emile Heskey. It's believed Aston Villa will pay £3m for Heskey.

In Portugal, Sporting Lisbon's midfielder Miguel Veloso is attracting the interest of Manchester City, who according to The Sun are offering £19m. Veloso has previously been a Manchester United target.

Stay up to date with all the comings and goings in the transfer window with CNN.com’s daily wrap of the latest rumors and gossip from Europe’s sports pages.

LONDON, England – The ripples from Kaka's rejection of Manchester City's advances continue to travel far and wide, with the world's media chewing over the detritus of the deal.

Didier Drogba: Set to become a City gent?

The Guardian asks whether the Abu Dhabi United Group's failure to sign Kaka sounds the death knell for future big name signings, whilst others conclude that the Gulf royal family has been taught a humiliating lesson in political maneuvering. Corriere dello Sera, for instance, has reported that Kaka lambasted City's delegation for not having a clue what was going on and failing to table a bid in their six hour meeting with his representatives.

So you would be forgiven for thinking City would lower their sights and ambitions. Not so. Thursday's papers brim with fresh targets to sooth City's hearts after their very public jilting with The Times reporting that Barcelona's Thierry Henry is again on the club's radar. After a difficult start to his time at the Catalan club Henry has begun to shine and has been instrumental in Barcelona's dominance in La Liga this season. But £10 ($13.89) million might just be enough to capture the Frenchman.

They may need the firepower. City's absent Brazilian international, Robinho, is being lined up by his former national team boss Luis Felipe Scolari at Chelsea. City would be foolish to sell their prolific striker, you may think, but according to The Sun Didier Drogba could well be heading in the other direction. Which, on the face of it, would keep both sets of fans happy.

One of Europe's hottest properties appears to have made his mind up as to where he will play for the rest of the season. German under-19 striker Savio Nsereko has been in rich form for Serie B team Brescia. So much so that Arsenal, Barcelona and West Ham have all been reported to be close to a deal to clinch his signature. But according to La Gazzetta dello Sport he will actually sign for Napoli instead.

Over in Spain, next summer's presidential election at Real Madrid sees the usual round of crazy promises being made by the various candidates. And they don't get any more outlandish than the claims of former president Florentino Perez. After already claiming to have a promise that Ronaldo will join him at the Bernabeu, El Mundo has reported that he has also apparently reached a secret deal with Silvio Berlusconi to take Kaka to Madrid whilst also securing the services of Arsenal's Arsene Wenger.

Which all seems rather far fetched. But with Wenger becoming increasingly frustrated with Arsenal's miserly transfer policy – the club's bid for Andrei Ashavin has hit the rocks after failing to meet Zenit St Petersburg's valuation, according to the Daily Mail – and Perez having a reputation for securing previously unthinkable transfers as he did by signing Luis Figo from arch rivals Barcelona, maybe it's worth taking notice.

If you want to read more football news and features, and have YOUR say, go to CNN's Football Fanzone.

Stay up to date with all the comings and goings in the transfer window with CNN.com's daily wrap of the latest rumors and gossip from Europe's sports pages.

Manchester City may move into a bidding war with Arsenal for Russia playmaker Andrei Arshavin.

LONDON, England – FINALLY!!

After weeks of speculation, talks and unprecedented offers, Kaka has finally ruled out a move to Manchester City – meaning the football world can catch its breath and move forward.

At least you would hope so.

However, Gazetta dello Sport today suggests that Real Madrid could still launch a bid for the 26-year-old that may question his certainties about AC Milan more than a move to Manchester City would have.

Do you think Kaka made the right decision to stay at AC Milan? Have your say in the Football Fanzone debate.

With the Kaka saga at least over for City, and Craig Bellamy now in the bag, they are still looking for new blood at Eastlands, and The Sun reports that Newcastle United goalkeeper Shay Given is top on the target list. I guess for Given it's just a question of which relegation battle he fancies fighting.

The defending English Premier League champions Manchester United meanwhile are believed to be interested in Wigan's Antonio Valencia – according to the Daily Telegraph; while the Daily Mail says Sir Alex Ferguson wants to place a bid for French 16-year-old Yven Moyo.

The Times says Arsenal are one step closer to signing Zenit St Petersburg's Andrei Arshavin, however, it also reports Manchester City may now make a move for the Russian star. With the crazy money City have been throwing around so far, Arsene Wenger may be worried that City involvement will see Arshavin become too expensive.

Various media also report that Blackburn manager Sam Allardyce has put a £40 million price tag on Paraguay striker Roque Santa Cruz. He clearly doesn't want to lose him as the relegation battle intensifies.

Stay up to date with all the comings and goings in the transfer window with CNN.com's daily wrap of the latest rumors and gossip from Europe's sports pages.

City's new man? Craig Bellamy could soon swap Upton Park for Eastlands.

Kaka, Kaka, Kaka. Everywhere you look it's wall to wall Kaka. His intentions again dominate the papers this weekend as representatives from the Abu Dhabi United Group fly to Milan with their big sack of cash. It is the second time Manchester City's owners have tried to talk the Brazilian's paymasters in to parting company with their prized asset. But with 'unnamed sources' constantly spinning, no one is actually sure what is going on. According to The Times, Kaka is seriously considering the £108 ($161) million offer, mainly because he was shocked that Milan considered selling him.

On the other hand The Observer has taken a different tack. The Rossoneri's fans staged a protest before Milan's victory against Fiorentina, a move which deeply moved him according to the newspaper. But, most interestingly, the paper alleges that the whole saga has been a ruse by Milan's owner, arch political manipulator Silvio Berlusconi. Apparently he has been hyping up a potential transfer – a source close to the Abu Dhabi United Group claimed that the £108 million figure was way off the mark – so that he can curry favor with Milan's fans when Manchester City's bid fails. Cunning.

Meanwhile, City are close to securing a more realistic target. West Ham United striker Craig Bellamy is in Manchester having a medical today, according to Guardian, after going on strike when his current club refused permission for him to speak to anyone else. But a bid of £12 ($17.59) million has convinced the East London club to part company with their troublesome hit man.

Any Kaka deal would obviously leave AC Milan awash with cash and the Italian daily La Gazzetta dello Sport has reported that a number of long term Milan targets would be back on the radar again, including Arsenal's striker Emmanuel Adebayor and Chelsea's bustling midfielder Michael Essien. Apparently both players coule be dislodged from their current employers for £32 ($46.85) million each.

Over in France, L'Equipe is concerning itself with the transfer activity of shock title contenders Bordeaux. Despite the strong Euro making acquisitions from the UK more financially attractive, they have pulled out of a deal for West Ham's French International Julian 'TGV' Faubert as the fee was too high. Instead they will be concentrating on luring Nancy's young striker Issiar Dia. Their most pressing issue, however, is keeping hold of the Yoann 'the new Zidane' Gourcuff. The midfielder is on loan from AC Milan but has turned heads across Europe with some stunning goals and match winning performances.

All of which makes goings on at the usually transfer-crazy Real Madrid seem quite prosaic. The club has been watchfully observing the crazy goings on elsewhere with Marca instead focusing on the resignation of President Ramon Calderon for his involvement in an alleged voting scandal.

But they couldn't keep out of the action for long. The News of the World reported that Madrid tabled a late bid for, you guessed it, Kaka. According to reports, they are willing to match Manchester City's bid, but will offer much less in wages. What will he choose? A relegation dog fight with the second best team in Manchester? Or Champions League football with the biggest club side in the world? Hmm, tough one that....

Where should Kaka go: Manchester or Madrid? Have your say in the Football Fanzone debate.

Stay up to date with all the comings and goings in the transfer window with CNN.com's daily wrap of the latest rumors and gossip from Europe's sports pages.

Reason to smile: AC Milan's Kaka is believed to be the subject of a $146 million bid from Manchester City.

LONDON, England – There is just one story on the lips of every football fan, and just one story on the back pages of almost every paper today.

Various media are reporting that Manchester City have made a £100 million ($146 million) bid for AC Milan's Kaka. It's understood the deal would also see the Brazilian earn £500,000 ($730,000) per week in wages.

See how this salary compares to the U.S. President's here.

Rumors have been circulating since long before the transfer window opened that the Eastlands club was interested in the Brazilian attacking midfielder, who won the Ballon d'Or and Fifa World Player of the Year awards in 2007.

It seems now that Manchester City has finally made a move, with various media reporting that a City delegation have met with Milan officials and entered into talks, where the unprecedented bid has been put forward.

Should the bid proceed, it would more than double the current record price for a player which sits at £46m ($67m) when France legend Zinedine Zidane left Juventus for Real Madrid in 2001.

Though seemingly excessive, raising the money should not be too much of a bother for City owner, Sheikh Mansour bin Zayed Al Nahyan, who is estimated to be worth about £15bn ($22bn).

It is likely City manager Mark Hughes will be eager to complete a major signing after having bids rejected for West Ham forward Craig Bellamy and Blackburn striker Roque Santa Cruz, and only Chelsea's Wayne Bridge to show for January's transfer window so far.

As the dust settles, however, it seems that Kaka is less than keen and has distanced himself from a move. Mediaset, which is owned by Italian prime minister and AC Milan owner Silvio Berlusconi, has quoted Kaka as saying that he will never leave Milan. At least not as a young man. "I want to grow old here and my objective for the future is to become this team's captain," he said, seemingly dashing Manchester City's hopes. "I have already refused important offers in the past." Sheikh Mansour might have a long wait if he wants to get his man.

Of course, there is some transfer activity outside of Manchester. Adriano – Inter's Brazilian striker who has a penchant for the odd night out – has been interesting Harry Redknapp at Tottenham Hotspur according to The Sun. Jose Mourinho has lost patience with the forward and is apparently now willing to sell. London should provide the hit man with plenty of going out opportunities.

Meanwhile The Guardian is reporting that Ghanaian free agent  Stephen Appiah, who has been on trial at Spurs, is to play in a specially arranged match to gauge whether he his fit enough for a contract at White Heart Lane.

Karim Benzema continues to excite Europe's sports editors after Lyon's president admitted that he will find it tough to hold on to his star man after two of the world's biggest clubs expressed an interest in signing the striker. Both Barcelona and Real Madrid have enquired about his availability, according to Marca.

One player who definitely won't be playing in France next season is Didier Drogba. Most of Britain's back pages run with the news that the Ivorian striker is on his way out of Stamford Bridge after manager Luiz Felipe Scolari dropped him for tonight's FA Cup replay against Southend. Not so, reports L'Equipe, as Marseille have tried, and failed, to sign him. Apparently Chelsea refused to sell him at any cost.

Finally, it wouldn't be a proper transfer round up unless we featured yet more groveling from Newcastle United's want-away winger Charles N'Zogbia. The Frenchman has very publicly announced his desire to leave the club and asked Europe's top clubs to put in a bid for him, so far unsuccessfully. The latest recipient of his furtive glances are Lyon. "Lyon, make your move!" he shamelessly begged in French paper Aujourd'hui Sport. Tomorrow: N'Zogbia parades through Madrid wearing nothing but a Real shirt. Probably.  

If you want to read more football news and features, and have YOUR say, go to CNN's Football Fanzone.

Stay up to date with all the comings and goings in the transfer window with CNN.com's daily wrap of the latest rumors and gossip from Europe's sports pages.

Werder Bremen's Brazilian, Diego, left, is attracting interest at Juventus.

LONDON, England – We're almost half-way through January, and the transfer rumors are continuing to pick up speed.

Today, Juventus are preparing a raid to bring Werder Bremen's Brazilian playmaker Diego to the Stadio delle Alpi as a replacement for the ageing Pavel Nedved, according to the Gazzetta dello Sport.  It's understood Juve officials will head to Germany next week to discuss a possible 25 million euro deal for the unsettled 23-year-old.

Other alternatives for Juve could include Valencia winger David Silva, or Dutch mid-fielder Ryan Babel, who is at Liverpool.

Reports from Ecuador's El Comercio suggest that Real Madrid have officially offered Wigan Athletic 12 million euros and Javier Saviola in exchange for Antonio Valencia. The money and Saviola combined would meet the 17.5 million euros price asked by Wigan manager Steve Bruce.

The Daily Mirror reports Portsmouth are trying to snap up Argentine Javier Saviola from Real Madrid in an ambitious bid to fill Jermain Defoe's boots.

Also in the Daily Mirror, there are rumors that Manchester City is trying to sign Chelsea goalkeeper Carlo Cudicini.City boss Mark Hughes believes he can land the Chelsea second string for about £3million.

And Andre Arshavin is happy to change numbers if he moves to Arsenal, The Daily Telegraph reports.  "I would prefer my present No 10 but in the team where I hope to move it's not vacant. So I'm ready for any number they are going to offer me," Arshavin said.