For updated transfer news and gossip throughout the day, read our breaking news service Sportsday Live.
Manchester United boss Sir Alex Ferguson has beaten neighbours City to the signature of Chilean striker Angelo Henriquez, 18.
Arsenal are set to allow Robin van Persie, 29, to join Manchester United in a £22m deal.
But other reports suggest Arsenal want at least £25m from Manchester United for Van Persie.
Barcelona vice-president Josep Maria Bartomeu flew to London on Tuesday to try to agree a £15m deal for 24-year-old Arsenal midfielder Alex Song.
Blackburn have enquired about the availability of Arsenal striker Marouane Chamakh, 28, on a six-month loan deal.
Real Madrid have made a final £25m offer for Tottenham midfielder Luka Modric, and have told the north London side they will not return with a bigger offer if it is rejected.
The La Liga giants have turned to Fulham midfielder Moussa Dembele as an alternative target, and the 25-year-old says his agent has been contacted by them.
Bolton striker David Ngog, 23, is a reported target for Fulham.
Croatia coach Igor Stimac is annoyed with Tottenham for not playing Luka Modric ahead of his possible transfer to Real. Stimac wants Modric to play in Croatia's friendly against Switzerland but is worried he may be lacking match fitness.
Chelsea and Manchester City are on alert after Porto striker Hulk, 26, admitted he is ready to leave the Portuguese club.
Manchester City are considering adding more English talent to their ranks after recruiting Jack Rodwell, with Scott Sinclair, Jack Butland and Nathan Redmond being monitored by the Premier League champions.
Vurnon Anita, 23, wants a face-to-face meeting with Newcastle manager Alan Pardew before deciding to quit Ajax for the Magpies.
Lyon chairman Jean-Michel Aulas says he has rejected a bid from Spurs for 25-year-old France goalkeeper Hugo Lloris.
Liverpool have sent managing director Ian Ayre to Spain to secure deals for Barcelona winger Cristian Tello, 21, and Real Madrid midfielder Nuri Sahin, 23.
Everton are set to use some of the funds from the sale of Jack Rodwell, 21, to Manchester City by signing Kevin Mirallas, 24, from Olympiacos for £6m.
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Manager David Moyes is also interested in bringing 21-year-old Blackpool winger Matt Phillips to Goodison Park.
Wolves manager Stale Solbakken says he has agreed to let 29-year-old midfielder Nenad Milijas find a new team.
Chris Coleman has defended his decision to try to bring in Ryan Shawcross to the Welsh international set-up despite the lukewarm reception it received from captain Aaron Ramsey.
Frank Lampard, 34, says he wants Chelsea to renew talks about a new contract to finish his career at the club.
West Ham co-owner David Sullivan admits the club were prepared to risk their financial security by signing Andy Carroll, 23, from Liverpool.
Liverpool manager Brendan Rodgers has promised he will look for value in the transfer market rather than pay excessive amounts to bring players to the club. "You have to spend money but not throw it around," the 39-year-old said. "I won't pay anything at all costs, absolutely not."
The Olympic spirit may have had an effect on Chelsea left-back Ashley Cole, as he gave a young Manchester City fan his Community Shield medal.