Manchester City are ready to pull the plug on their proposed move for Lille playmaker Eden Hazard, 21, unless the player and his agent lower their financial demands.
Juventus will turn their attentions to Manchester City's Edin Dzeko, 26, as they prepare to pull out of the race to sign Arsenal forward Robin van Persie, 28.
City are set to take advantage of Juve's move by stepping up their interest in Van Persie, while the Italians could bid for Liverpool forward Luis Suarez, 25, as well as Dzeko.
City face a battle to retain the services of playmaker David Silva who will be offered the chance to return to his native Spain by Real Madrid.
Liverpool striker Luis Suarez has given Liverpool a boost by distancing himself from any move to Real Madrid or Barcelona.
Tottenham want 25-year-old Marseille striker Loic Remy and could swap Luka Modric, 26, for Real Madrid's Lassana Diarra, 27.
Modric is determined to join a Champions League club ahead of next season, although chairman Daniel Levy is thought to be holding out for a fee of £50m.
Spurs are reluctant, however, to splash out the £10m required to make Emmanuel Adebayor's move from Manchester City permanent.
Both Chelsea and striker Didier Drogba are reconciled to the 33-year-old striker leaving Stamford Bridge this summer, despite the Ivorian's man-of-the-match performance in the Champions League final victory against Bayern Munich.
QPR are hoping to make the most of the uncertainty at Aston Villa with a move for goalkeeper Shay Given, 36, who played under Rangers boss Mark Hughes at Manchester City. West Ham's 31-year-old Robert Green could also be a target.
Meanwhile, the newly promoted Hammers fear they may lose Green over his wage demands.
QPR boss Hughes is also plotting a move for Wigan forward Victor Moses, 21.
But Adel Taarabt could be on his way out of Loftus Road with Wolfsburg reviving an interest in the £8m-rated 22-year-old playmaker.
Chelsea owner Roman Abramovich has given the green light for a spending spree that could include Hazard, Porto forward Hulk, 25, and Atletico Madrid striker Radamel Falcao, 26.
Brazilian midfielder Lucas Moura, 19, who currently plays for Sao Paulo, is another target for the European champions, although Manchester United are also interested.
Barcelona are set to offer £10m for Manchester City's Argentina defender Pablo Zabaleta, 27.
Chelsea have given Arsenal a deadline of next week to make a decision on whether they want to sign on-loan midfielder Yossi Benayoun, 32, on a permanent basis.
Tottenham chairman Levy travelled to Holland on Monday in an attempt to close a deal for Ajax's Belgian defender Jan Vertonghen, 25, who is also wanted by Arsenal and AC Milan.
Blackpool want to turn 29-year-old Swansea forward Stephen Dobbie's loan into a permanent deal.
Roberto Martinez is set to meet Liverpool's owners in the United States on Thursday after holding talks with them in England over the weekend.
Former England boss Fabio Capello is interested in the Anfield vacancy but has had no contact from Liverpool.
Chelsea owner Roman Abramovich is prepared to give Roberto Di Matteo another season to stake his claim to the manager's role on a permanent basis, but is still determined to bring Pep Guardiola in as soon as he can persuade the Spaniard to join the Blues.
Chelsea are far from impressed with the comments made by Fernando Torres about life at Stamford Bridge, but have told the Spain striker, 28, he is going nowhere.
And owner Abramovich has personally assured Torres about his future at Chelsea.
Torres's fellow Chelsea striker Romelu Lukaku has claimed that he will "never forgive" previous manager Andre Villas-Boas for the treatment he received from the Portuguese. "I did not learn a thing that way. I never got an explanation from him," he said.
Former Chelsea striker Andriy Shevchenko could return to Stamford Bridge as a coach as his playing career reaches a conclusion at Dynamo Kiev.
Manchester United midfielder Ryan Giggs, 38, has revealed his desire to link up with former team-mate David Beckham as part of the Great Britain team at London 2012. "I don't think it'll be like 20 years ago when we were both up and down," he said. "We might be able to get up but we won't be able to get back down again."
Aston Villa midfielder Barry Bannan will discuss the chance to link up with Team GB with Scotland boss Craig Levein in an attempt to pre-empt any backlash to his involvement from his national team and their supporters.
Full story: Daily Record
Randy Lerner will fly to England on Wednesday as Aston Villa close in on a decision over their new manager. Molde's Ole Gunnar Solskjaer is the favourite but Norwich manager Paul Lambert and Brighton boss Gus Poyet are also under consideration.
On-loan playmaker Joe Cole, 30, thinks he could still be a success at Liverpool, but only if he is played in central midfield.
After being told to avoid controversy by Italy coach Cesare Prandelli, Mario Balotelli has been trying out a host of famous football haircuts, including Carlos Valderrama's afro.
Bayern Munich midfielder Bastian Schweinsteiger has apologised for appearing to ignore the outstretched hand of German president Joachim Gauck as he collected his runners-up medal in the Champions League final, saying he was "paralysed" by the emotion of the defeat.
Full story: Independent
England players heading to Euro 2012 will be provided with every item of clothing they require for the tournament - even down to their underpants.