Arsenal and Lyon are in talks over a deal for Vivianne Miedema and Nikita Parris to swap clubs.
Former European champions Lyon have been looking to sign Miedema for a year and Arsenal must now decide whether to sell the Netherlands international, as she enters the final 12 months of her contract.
Miedema is the all-time leading goalscorer in the Women's Super League, having scored 60 goals in 67 WSL games since she joined Arsenal from Bayern Munich in 2017.
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Lyon are prepared to pay a transfer fee for Miedema and trade England international Parris, although negotiations are still ongoing.
Former Everton and Manchester City forward Parris is keen to move back to the WSL after winning the Champions League, Ligue 1 and Coupe de France during her time at Lyon.
Another WSL club is also interested in bringing Parris back to the UK but Arsenal are favourites to sign the 27-year-old, who has scored 19 goals in 30 league games since joining Lyon from City in 2019.
England forward Toni Duggan has told Sky Sports News she will return to the Women's Super League next season.
Duggan is set to leave Atletico Madrid upon the expiry of her contract in June and has targeted a return to England four years after originally leaving for Barcelona.
The 29-year-old has scored 22 goals for England in 79 appearances but was surprisingly left out of the Lionesses' training camp in October and is yet to be called up by interim boss Hege Riise.
Ellen White is relishing continuing her journey at Manchester City in an exciting era for women's football after signing a new two-year deal at the club.
The 32-year-old has been a key component of Gareth Taylor's side, scoring 24 goals in 55 appearances since joining from Birmingham City back in 2019.
While some women's teams struggle to be backed by their clubs, White has had no hesitation in committing to City, believing the support she and the side get is second to none in the WSL.
Sky Sports has announced a three-year deal with the FA to become the primary broadcaster of the Barclays Women's Super League from September 2021.
As one of the most competitive leagues, with some of the most famous names and teams in the world, the WSL will be one of Sky Sports' flagship offerings.
The deal will see Sky Sports show at least 35 games exclusively live per season and further strengthens the broadcaster's commitment to women's sport.