Chelsea are targeting Arsenal and England winger Theo Walcott and could be willing to swap him for Stamford Bridge striker Daniel Sturridge.
Manchester City may make a summer move for 24-year-old Real Madrid striker Gonzalo Higuain, who is also a target for Chelsea.
Arsenal manager Arsene Wenger is in the hunt for 21-year-old Ghana international defender Daniel Opare, who has impressed for Standard Liege this season.
Liverpool are one of three clubs believed to be monitoring the form of 26-year-old Hertha Berlin midfielder Raffael.
Arsenal and Liverpool are believed to have reignited their interest in Werder Bremen attacking midfielder Marko Marin, 22, who has been dubbed the German Lionel Messi.
Ashley Cole, Frank Lampard and Michael Essien were all dropped from the Chelsea line-up against Napoli on Tuesday for daring to criticise manager Andre Villas-Boas before the match. Cole told the boss: "I came here to win medals, and trophies, but I'm never going to do that with your tactics."
Manchester United winger Nani will be offered a new four-year contract with wages of £130,000 per week.
Liverpool striker Craig Bellamy says he will not celebrate if he scores a goal against his boyhood club Cardiff City in Sunday's Carling Cup final.
Chelsea midfielder Ramires is close to signing a contract extension that would keep him at the club until 2017.
Arsenal are ready to open fresh contract talks with winger Theo Walcott, midfielder Tomas Rosicky and striker Robin van Persie after the trio indicated they are keen to stay at the club.
Manager Arsene Wenger faces being left with just £10m to rebuild Arsenal in the summer.
Manchester United boss Sir Alex Ferguson has revealed that influential defender Rio Ferdinand could be key to 18-year-old midfielder Paul Pogba staying at Old Trafford.
French midfielder Samir Nasri, 24, is determined to prove he is not a £24m "mistake" at Manchester City.
Sunderland are not looking to fill the vacancy left by international development director Niall Quinn.
Warsaw Stadium has been cleared to host the opening Euro 2012 clash between Poland and Greece on 8 June.
A giant Wayne Rooney was among the cut-out performers on display at the Rio de Janeiro carnival.