Chelsea have made a bid of £49.3m for Napoli striker Edinson Cavani, 26, after the Italian club rejected a lower offer that would have seen Fernando Torres head in the opposite direction.
Napoli are determined that a release clause of £53m in Cavani's contract will be triggered before they let him go, and have been given a list of fringe players from Chelsea to choose from as part of the deal.
Manchester United boss David Moyes is ready to spend £40m in an attempt to beat Arsenal manager Arsene Wenger to the signing of Barcelona's 26-year-old Cesc Fabregas.
Barcelona will move for Chelsea defender David Luiz, 26, if the Catalan club fail to convince Thiago Silva, 28, to leave Paris St-Germain.
Newcastle midfielder Yohan Cabaye could move to Man United after the 27-year-old spoke of his admiration for the Old Trafford club.
Liverpool will complete the signing of Celta Vigo striker Iago Aspas, 25, next week after Tottenham's late interest appeared to threaten their move for the Spaniard.
Fiorentina's 33-year-old midfielder David Pizarro, who spent six months on loan at Manchester City in the second half of their title-winning season in 2011-12, wants to return to the Premier League this summer.
Liverpool will attempt to beat Everton boss Roberto Martinez to the capture of Wigan striker Arouna Kone, 29, by making a bid for the Ivory Coast international. Kone has a £6.5m release clause in his contract.
Chelsea are prepared to take on Arsenal in an attempt to sign Wayne Rooney from Manchester United if new manager David Moyes decides to sell the 27-year-old striker this summer.
Arsenal are closing in on Real Madrid's Gonzalo Higuain, 25, after Arsene Wenger met the striker and his father in Paris.
Spurs are preparing to offer Bayern Munich £7m for striker Mario Gomez, 27, who now appears to be surplus to requirements at the German club.
Crystal Palace boss Ian Holloway has made a £4m bid to bring Blackpool winger Thomas Ince to Selhurst Park.
Stoke City goalkeeper Thomas Sorenson, 36, is keen to speak with new manager Mark Hughes, although his future at the club could depend on whether the Potters sell Asmir Begovic.
Fenerbahce hope to entice Tottenham left-back Benoit Assou-Ekotto, 29, to Turkey via a £6m deal. The defender is out of contract in 2015.
Liverpool goalkeeper Pepe Reina says he would "understand" if Uruguayan striker Luis Suarez, 26, wanted a move away from Anfield.
Former Arsenal midfielder Stewart Robson says Arsene Wenger cannot be trusted to spend the Gunners' transfer money wisely this summer.
Former Manchester United assistant manager Mike Phelan and current United coach Rene Meulensteen are among those due to be interviewed for the vacant manager's post at Wigan.
Hull boss Steve Bruce will remain with the club after he was given assurances about the club's ability in the transfer market following an approach from Wigan earlier this week.
Newcastle striker Papiss Cisse will refuse to wear the club's new shirt next season on ethical grounds as it carries the name of payday loan company, Wonga.
The agent of Swansea City manager Michael Laudrup has dismissed claims that the Dane could be heading to Fenerbahce.
Theo Walcott's mother has criticised Stuart Pearce on her Facebook page after the England Under-21 manager complained about the Arsenal forward not playing in enough international tournaments.
Striker Romelu Lukaku, 20, is keen to stake a claim in Chelsea's first team next season after talking to Jose Mourinho and deciding against another loan spell away from Stamford Bridge.
Former Chelsea striker Didier Drogba, 35, who is now with Galatasaray, has bought a five per cent stake in a gold mine in the Ivory Coast, his home country.