With the midfielder's stock rising even more following his displays with England at the World Cup, it seems all the more likely that he will be courted by one of Europe's elite clubs.
While a transfer might not necessarily be completed in January, plenty of speculation is swarming around the young Borussia Dortmund player.
Bearing this in mind, Flashscore take a look at the clubs who will be taking an interest in Bellingham, and - more importantly - who can afford to make a move for the talented midfielder.
Real Madrid
Madrid are always heavily linked with the best young talent in the world, and it has been no different with Bellingham.
Zinedine Zidane's side have boasted one of the best midfield trios of the last decade with Casemiro, Toni Kroos and Luka Modric, with the potential signing of Bellingham setting them up to continue their midfield dominance for years to come.
They already have French starlets Aurelien Tchouameni and Eduardo Camavinga in their ranks which sets up their long-term future nicely - and the addition of Bellingham will only help that.
Not to mention, Madrid are also one of just a few clubs that could afford the youngster
Liverpool
The other side that have been heavily linked to Bellingham is Liverpool.
Jugen Klopp's Reds have been crying out for midfield reinforcements for quite some time now and there isn't a better option on the planet right now than the 19-year-old star.
He would slot straight into their starting XI, although the big question mark would be over Liverpool's finances.
They have just paid £37 million plus add-ons for Cody Gakpo which will no doubt leave a dent in their transfer budget in the short term, meaning completing a deal for Bellingham in January might be unlikely.
Chelsea
Despite a desperate need to recruit an out-and-out striker, the Blues seem to be linked with every other position on the pitch.
Midfield is no different and it's no surprise that Chelsea would be interested in Bellingham's services.
There is also no doubt over their ability to finance a deal with Dortmund.
Further to this, with the futures of N'Golo Kante and Jorginho in doubt, Bellingham would be a superb replacement for either veteran.
Manchester City
While City don't necessarily need a central midfielder and arguably have the best set of midfielders in the Premier League, they could definitely afford the youngster and could make a move.
With Ilkay Gundogan coming to the end of his prime years, Bellingham would be the ideal replacement.
Wildcards
There are some other outsiders that could look at the youngster, but transfers seem unlikely at this current time.
Newcastle definitely have the money but are in danger of breaching financial fair play rules and might need to establish themselves as consistent competitors at the top of the Premier League before moving for someone like Bellingham.
PSG are another side that will have the money but have been surprisingly absent from a lot of the speculation.
Of course you can never rule out Bayern Munich, who love to come along and take Dortmund's best talents.
