With the January transfer window now open for business we’ll be keeping you up-to-date with all the latest transfer gossip. Today, more on the future of Marouane Fellaini.

Arsenal and Chelsea have been alerted to the news that Everton midfielder Marouane Fellaini has a £22 million release clause in his contract, according to the Daily Mail.

The report claims the giant Belgian signed a new five-year contract with the Toffees in 2011 but inserted a clause into the deal allowing him to leave for £22 million if a club who’ve qualified for the Champions League club comes in.

The Mail suggests that Chelsea and Arsenal are interested, with the European champions eyeing the 25-year-old as a potential replacement for Frank Lampard – who’s expected to leave at the end of the season – while Arsene Wenger is also said to be considering breaking the Gunners transfer record to land the Belgian international.

Fellaini moved to Goodison Park from Standard Liege in 2008 and has been a huge success for the Merseysiders during his 155 appearances. The 6ft 4inch attacker has been in superb form so far this season and scored his 9th goal of the campaign against Cheltenham on Monday night.

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His versatility would be a huge asset if he did make the move to either Stamford Bridge or the Emirates, with Fellaini capable of playing anywhere from defensive midfielder right up to centre forward.

I feel Fellaini would be a superb signing for any club but it would be a bitter blow to David Moyes hopes of a top-four finish this season if he was to lose him and while £22m may sound a lot, I think it would be something of a bargain in today’s market.

Would Arsenal and Chelsea fans like to see Fellaini at their club? Get involved in the comments section below.