Real Madrid are planning a £50m summer move for Spurs forward Gareth Bale, 23, and manager Andre Villas-Boas. Paris St-Germain boss Carlo Ancelotti is also a contender if Jose Mourinho leaves the Bernabeu.
Menwhile, Bale will leave Tottenham if they fail to qualify for the Champions League, which would trigger a get-out clause in his contract.
Manchester United want Newcastle midfielder Yohan Cabaye, 27, for £20m but winger Nani, 26, is on his way out of Old Trafford to join PSG.
United are also interested in signing Benfica midfielder Nemanja Matic, 24. The Serbia international previously played for Chelsea but was a makeweight in the deal to take David Luiz to Stamford Bridge in January 2011.
Manchester City are ready to reward striker Sergio Aguero, 24, with a new four-year contract on improved terms.
Arsenal are set to make a club record £30m bid for Borussia Dortmund's attacking midfielder Mario Gotze, 20, while also promoting a clutch of promising youngsters.
Gunners boss Arsene Wenger also wants Hamburg goalkeeper Rene Adler, 28, and Barcelona defender Pleguezuelo Selva, 16.
Stoke manager Tony Pulis faces the sack if they suffer a heavy defeat at home to Manchester United. The Potters have won only one of their last 13 games and sit just three points above the relegation zone.
Jose Mourinho is set to reject the chance to return to Chelsea and will stay as Real Madrid manager.
Paolo Di Canio says he was shocked by the opposition to his appointment as Sunderland boss and has received a message of support from Alan Pardew whose Newcastle side entertain their local rivals on Sunday.
Meanwhile, Di Canio's Sunderland players face a 40% pay cut if they are relegated from the Premier League.
Ajax manager Frank de Boer has admitted he would like to manage Manchester City, but not this summer as it would be difficult for him to move his family abroad at this stage.
Referee Mark Clattenburg was left embarrassed early in the second half of Reading's game against Liverpool on Saturday when, after going to caution a player in the 50th minute, he discovered he had left his notebook - and red and yellow cards - in the dressing room.