West Ham United manager Sam Allardyce admitted Mohamed Diame could still leave the club, with Arsenal thought to be the most interested of the clubs.
Ever since Diame's £3.5 million ($5.5 million) release clause became known to the public, speculation has been rife over the future of the 25-year-old, who only joined West Ham in the summer on a free transfer from Wigan.
The midfielder has been in good form this season, leading to suggestions that Arsenal, who are looking to bring in a powerful midfielder, might be ready to trigger the buyout clause.
Despite several reports, nothing has happened as yet with Diame even making a statement saying he was happy at West Ham.
However, Allardyce said there was "total confusion" over the situation and anything was possible, before the transfer window closes Thursday.
"My understanding is that it is total confusion," he said. "I am as confused as anyone by what is happening.
"I am sat there listening to what is going on (in the media), but deep down inside behind the scenes I speak to the chairman and where we are at the moment we are relatively comfortable regarding Mo Diame.
"However, whatever he (Diame) says to me today might change in an hour's time -- if Manchester United ring up in one hour's time, he's not going to want to stay is he?
"It can change between now and 11 O'clock (GMT) Thursday night. In the flick of a text, or an email, or a phone call."
Along with Arsenal, Tottenham and Queens Park Rangers are also thought to be monitoring the situation.
"There is certain situations where yes, we might lose the player, I hope we don't," Allardyce added.
"But if the situation develops accordingly there is going to be the chance we lose him. We are trying to keep him."
Meanwhile, Arsene Wenger has shot down rumors saying David Beckham might join the Gunners in the January window. Beckham is currently training with Arsenal as he looks to keep fit before deciding on his future course of action.
"He has asked to come here and work on his fitness," Wenger told reporters. "He has not done anything for a long, long time. He comes here to try to get fit again.
"There's no speculation about signing or anything. He's come here purely for fitness purposes.
"We are open for people who behave well when they come here and who have made a great service for English football -- you always try to help."
Wenger praised Beckham for his professionalism, saying he was a great example for youngsters coming through.
"He's fantastic, that's one of the reasons I have him here," Wenger added. "Beckham is in (early) in the morning and always does good work.
"The young English players look at him and take his advice on board. He gives positive advice.
"He has fantastic quality because he has done the maximum in his career. Why? Because he loves football.
"He is out there before training (starts). After training he stays and plays. He is such a good example to look at."
