Five years after joining Leicester City from Birmingham, Demarai Gray's time with the Foxes has come to an end. On Sunday, Gray completed a $2.2 million move to Peter Bosz's Bayer Leverkusen, currently fifth in the Bundesliga.

TRANSFER NEWS

Demarai Gray joins Bayer 04 from @LCFC ! pic.twitter.com/ghumQF412O

AS Roma has today confirmed the return to the club of Italy international Stephan El Shaarawy. 

El Shaarawy, who initially joined I Giallorossi on loan from AC Milan in January 2016, departed for China 18 months ago in a $17.6 million deal with Shanghai Shenhua. "Il faraone" enjoyed the most productive spell of his career in the capital, scoring 40 goals and assisting 26 in 139 appearances for Roma.

Atlanta United FC signed forward Lisandro López on a free transfer from Racing Club of the Argentine Primera División, the team said Monday. 

He will be put on the roster once his international transfer certificate and P-1 visa are received.

#ATLUTD signs decorated leader, Lisandro López ⚽️

Details: https://t.co/oBGO8zEJuz pic.twitter.com/L7tCyMNO4A

Jordan Morris joined Swansea City on Friday on loan for the rest of the 2020-21 season, with the EFL Championship side retaining an option to buy the American striker permanently at the end of the campaign. The deal reinforces a recent trend: European clubs finding massive bargains in American players.

After 32 appearances and two entirely meaningless goals, Real Madrid has effectively called time on the Luka Jović experiment and shipped him back to Eintracht Frankfurt on loan.

Fenerbahçe will sign German midfielder Mesut Özil from Arsenal for three and a half years for an undisclosed fee, Turkey's private Demirören news agency and other Turkish media reported on Wednesday.

While there was no immediate comment on the reports from Fenerbahçe, broadcaster A Spor said Özil and the club had agreed on the transfer in principle and that the 32-year-old would join the former Turkish champions later in January.

Watford's promotion push gained some more vigor at the advent of the new year, as the club announced the signing of winger Philip Zinckernagel on a free transfer.

Three-and-a-half years after leaving Schalke to join Arsenal on a free transfer, Sead Kolasinac is returning to the Veltins-Arena on a six-month loan. 

@seadk6 is back!

Welcome home, Seo! #S04 | #Kolasinac