Napoli have put a £100m price tag on forwards Edinson Cavani, 25, and Ezequiel Lavezzi, 26, in an attempt to ward off interest from Chelsea and Manchester City, both of whom have seen what the players can do first-hand.
But it is Atletico Madrid's Colombian international Radamel Falcao, 26, who tops Roman Abramovich's summer shopping list.
Portuguese midfielder Raul Meireles is mulling over his Chelsea future following the sacking of fellow countryman Andre Villas-Boas.
League One leaders Charlton are set to beat Aston Villa, Everton and Bolton to the signing of winger Gregg Wylde, 20, who has been released from his contract by financially stricken SPL club Rangers.
Manchester United are considering a move for Real Madrid midfielder Nuri Sahin, 23, who has made just one appearance at the Bernabeu since moving from Borussia Dortmund.
Liverpool, Arsenal and Tottenham are all chasing Fulham playmaker Moussa Dembele, 24, with the Belgian star impressing for the Cottagers so far this season.
Former Chelsea sporting director Frank Arneson has held talks with his former club over taking Belgian youngsters Romelu Lukaku, 18, and Kevin de Bruyne, 20, to current club Hamburg on loan next season.
According to reports in Germany, Hamburg are set to beat Arsenal, Man Utd and Juventus to the signature of FC Basel's 19-year-old midfielder Granit Xhaka.
Premier League hopefuls Reading are set to sign midfielder Hayden Mullins, 32 , from cash-strapped Portsmouth to bolster their promotion hopes.
Former Sheffield Wednesday boss Gary Megson, who was recently sacked by the League One club, has emerged as a shock candidate to take over at Wolves despite Terry Connor being given the job until the end of the season.
Tottenham boss Harry Redknapp, 65, believes the vacant England manager's role is an "older man's job".
Andre Villas-Boas is set for a swift return to management at Inter Milan with his fellow former Chelsea boss Claudio Ranieri set to be axed in the summer.
League Managers' Association chairman Howard Wilkinson, who guided Leeds United to the 1992 league title, has blasted Chelsea owner Roman Abramovich for his record of sacking managers and demanding instant success.
Recently-dismissed Sunderland boss Steve Bruce says he was "delighted" for successor Martin O'Neill when he was given the job.
Manchester United have been warned by Athletic Bilbao midfielder Ander Herrera that the La Liga side will be going all out to inflict more misery on them in the Europa League on Thursday.
Jamie Carragher reckons Liverpool team-mate Steven Gerrard is England's second greatest midfielder of all-time behind Bobby Charlton.
Manchester United midfielder Tom Cleverley admits he is desperate to line up alongside David Beckham for the GB Olympic team.
Bolton striker David Ngog is set to turn his back on France and switch his footballing allegiance to Cameroon, despite featuring for France at every junior level.
Aston Villa midfielder Barry Bannan has welcomed the impending arrival of Australian international Brett Holman, 27, to Villa Park.
The Manchester City fan who has become on an online sensation since he was seen blubbing during Sunday's defeat by Swansea, has denied he was crying. Instead John Millington says he was just "frustrated and very tired".
But City boss Roberto Mancini has pledged to win the Premier League title for the 26-year-old.