Wednesday's gossip column
For a list of confirmed transfers, check out our transfers page.
A fresh bid from Paris St-Germain for Napoli striker Edinson Cavani could force Chelsea to increase their offer for the 26-year-old to £53m.
However, it is also rumoured that PSG's new offer for Cavani has put Chelsea off the Uruguayan, with Jose Mourinho intent on pursuing Manchester United striker Wayne Rooney, 27, and Borussia Dortmund's 24-year-old forward Robert Lewandowski.
AC Milan have insisted that 20-year-old striker Stephan El Shaarawy, linked with a move to Chelsea this summer, will remain at the San Siro.
Real Madrid are set to battle Chelsea for the signature of Benfica midfielder Nemanja Matic. The 24-year-old has blossomed since leaving Stamford Bridge in 2011 as part of the deal that saw David Luiz head to the west London club.
Gareth Bale's agent says no offer has been made by Real Madrid yet for the 23-year-old Tottenham forward. (Marca TV)
Manchester United are reported to be "very close" to securing the signing of Barcelona midfielder Thiago, 22.
Meanwhile, PSV Eindhoven's technical manager Marcel Brands says Manchester United midfield target Kevin Strootman, 23, has committed himself to spending another season at the Dutch club.
Arsenal are considering whether to make an offer for Manchester City and England midfielder Gareth Barry. The 32-year-old has a year left on his £100,000-per-week deal, and the Gunners would not be prepared to match those terms.
Liverpool face competition from Champions League runners-up Borussia Dortmund to sign Armenian midfielder Henrik Mkhitaryan, 24, from Shakhtar Donetsk.
West Ham and Swansea are battling it out for the signature of Vitesse Arnhem's Wilfried Bony, 24, after the Londoners matched the Welsh club's £10.2m bid for the striker.
Cardiff City are poised to make an £11m offer to Celtic for Kenyan midfielder Victor Wanyama, 21.
Joe Kinnear marked his first day as Newcastle's director of football by arranging to sell midfielder James Perch, 27, to Wigan for £700,000.
League Two side Dagenham & Redbridge could make more than £1m from a sell-on clause if their former striker Dwight Gayle, 22, makes an expected £8.5m move from Peterborough to Crystal Palace.
Chelsea, Arsenal, Tottenham and Manchester City are competing to sign Belgium Under-16 striker Julien Ngoy. The 15-year-old, who has the option of becoming a sprinter, is not currently attached to a football club.
Everton are willing to pay £5m for Swansea winger Nathan Dyer, 25.
Crystal Palace want to sign Leeds right-back Sam Byram, 19, for £3m.
AZ Alkmaar have rejected a bid from Sunderland for United States striker Jozy Altidore, 20, who has scored 31 goals in 41 appearances for the Dutch club.
And Sunderland's attempt to sign the Inter Milan trio of Daniel Bessa, Alfred Duncan and Ibrahim Mbaye looks to be on hold until new Inter coach Walter Mazzarri has assessed the players. Bessa and Duncan are 20-year-old midfielders, while Mbaye, 18, plays as a central defender.
Wolves have agreed a six-figure fee with Bolton to sign Wales international defender Sam Ricketts, 31.
GLOBAL GOSSIP (sourced by BBC Monitoring)
Chelsea have offered Sporting Lisbon around £12m for Portuguese winger Bruma, 18.
French side Valenciennes have signed midfielder Eloge Enza-Yamissi, 30, from second division Troyes AC on a two year deal.
Italian defender Denis Tonucci, 24, has signed with French side AC Ajaccio for two years.
Roma are interested in signing departing Genoa striker Alberto Gildardino, 30.
Wayne Rooney still denies that he handed in a transfer request to former boss Sir Alex Ferguson as the England international prepares for more talks with new Manchester United manager David Moyes.
Former England coach Glenn Hoddle, 55, wants to tell incoming Football Association chairman Greg Dyke how to stop "lazy" coaching and create more technically sound footballers.
Fellow ex-England boss Steve McClaren, who has joined the coaching team at QPR, has hopes of becoming the England Under-21 boss in the future.
Striker Darren Bent, 29, has reportedly been told to move out of the Aston Villa first-team dressing room and train away from the main group by manager Paul Lambert.
Veteran striker Kevin Phillips, 39, insists that he wants to stay at Crystal Palace for his final season in football after helping the south London club back into the Premier League.
Former Blackburn and England winger Jason Wilcox, 41, has been appointed manager of Manchester City's Under-18 side.
Everton left-back Leighton Baines ignored speculation surrounding his future, which has linked the 28-year-old with a move to Manchester United, by spending the weekend at the Glastonbury festival.