Juventus have ended their interest in trying to sign Arsenal striker Robin van Persie, who is also a target for Manchester City and Manchester United.
Real Madrid boss Jose Mourinho has intervened to help the Spanish club sign playmaker Luka Modric from Tottenham.
Spurs are considering a move for Swansea midfielder Joe Allen, who is thought to have a buy-out clause of £10m if any club other than Liverpool, Chelsea, Arsenal or the two Manchester sides bid.
Manchester United are set to make a last-ditch attempt to sign Brazilian midfielder Lucas Moura from Sao Paulo.
United are also considering Fulham's Moussa Dembele, with the Cottagers, who bizarrely signed a teenage striker also called Moussa Dembele from Paris St Germain this week, likely to demand at least £15m for the 25-year-old Belgian.
Arsenal will have to pay at least £20m if they want to prise playmaker Santi Cazorla from Malaga.
The Gunners, however, are close to landing Real Madrid midfielder Nuri Sahin on a season-long loan.
Liverpool and Arsenal face competition from Lyon if they are interested in signing defender Mamadou Sakho from Paris St Germain.
Villarreal's relegation could see them lose former Manchester United striker Giuseppe Rossi, who is currently out injured with a knee ligament injury.
West Ham are set to beat Wigan to the signing of Real Mallorca defender Ivan Ramis.
Aston Villa boss Paul Lambert has reignited his pursuit of Feyenoord defender Ron Vlaar, 27, and is poised to complete a £3.2m signing in a three-year deal early next week.
Watford boss Gianfranco Zola wants to add QPR striker DJ Campbell to his ranks to help his side challenge for promotion from the Championship.
Blackburn boss Steve Kean wants to make up for the disappointment of losing Junior Hoillett by signing striker Simon Cox from West Brom and Fulham defender Aaron Hughes.
Rovers have ended their interest in Portuguese midfielder Adrien Silva after Sporting Lisbon turned down their £750,000 bid for him.
Southampton are monitoring Cameroon defender Jean-Armel Kana-Biyik, 23, who currently plays for Rennes.
Arsene Wenger lost his cool when he was asked more questions about striker Robin van Persie's future at the club.
Tottenham boss Andre Villas-Boas has claimed the Spurs players are easier to work with than the Chelsea squad he was with last season.
Aston Villa owner Randy Lerner is selling his NFL Cleveland Browns franchise and could receive in excess of £600m, but has told Villa the money will not all be spent on transfers and expects the club to make an operating profit.