Barcelona are reportedly interested in signing Chelsea striker Fernando Torres, 29.
But Nou Camp chiefs see the Spanish international, who is currently away at the Confederations Cup, only as a goal-scoring substitute and hope to convince him to swap the Blues' bench for theirs.
Paris St-Germain are hoping to beat Real Madrid to the signing of Tottenham midfielder Gareth Bale, 23, with an £85m bid.
Manchester United are hoping that Real Madrid can land Bale to help them re-sign Portuguese attacker Cristiano Ronaldo, 28, this summer.
Tottenham are preparing a £4m move for Manchester City midfielder Gareth Barry, 32, to replace Scott Parker, who is attracting interest from Sunderland.
Manchester United may have to pay Bayern Munich to rip up an agreement to sign Robert Lewandowski if they want to bring the 24-year-old Borussia Dortmund striker to Old Trafford.
United winger Nani, 26, will decide his future this weekend but is expected to quit the club.
David Moyes is closing in on Benfica defender Ezequiel Garay with an agreement in principle between the United and the Portuguese side for the 26-year-old.
Manchester City are hoping the arrival of new manager Manuel Pellegrini will help them land 21-year-old Malaga winger Isco.
Striker Djibril Cisse, 31, is wanted by Qatar club Al-Gharafa on a permanent basis after spending the second half of last season there on loan from QPR.
Real Madrid will compete with Chelsea and Manchester City for Napoli forward Edinson Cavani after the Spanish club held preliminary talks with the 26-year-old Uruguayan's representatives with a view to securing his services before the new season.
Liverpool hope to sign Sunderland goalkeeper Simon Mignolet for £8m in the next week. The Merseyside club have bid £7m for the 25-year-old but the Wearsiders are holding out for nearer £10m, with the clubs likely to reach a compromise.
West Ham United are hoping to sign Chelsea striker Demba Ba, 28, and Manchester United winger Wilfried Zaha, 20, on loan for next season.
GLOBAL GOSSIP (sourced by BBC Monitoring)
Fiorentina have agreed a deal with Malaga for Spanish winger Joaquin Sanchez, 31, on a two-season contract, pending a medical.
Russian club FC Anzhi Makhachkala are willing to offer Saint Etienne £21m for Gabon striker Pierre-Emerick Aubameyang, 23, who scored 20 goals in Ligue 1 last season.
Galatasaray's Brazilian midfielder Felipe Melo, 29, says he has been approached by Juventus but has vowed never to return to the club he played for between 2009 and 2011.
Paris St-Germain are prepared to pay £10m compensation to Tottenham for manager Andre Villas-Boas.
Swansea manager Michael Laudrup's future has been thrown into doubt as the club broke off contact with the Dane's agent over a row about transfer targets.
Wigan see Steve McClaren and Owen Coyle as the top two candidates to succeed Roberto Martinez as manager and the club hope to make an announcement on Thursday.
Germany goalkeeper Manuel Neuer has a new role after voicing the character Frank McCay in the German version to the sequel of hit animated movie Monsters Inc, called Monsters University.