For a list of confirmed transfers, check out our transfers page.
Manchester United are prepared to double 26-year-old Barcelona midfielder Cesc Fabregas's current wages in a bid to lure him to Old Trafford.
Chelsea are ready to offer £40m for striker Wayne Rooney, 27, as the Blues look to convince United to sell the England international.
Rooney is close to signing for Chelsea in a deal which is expected to be worth around £200,000-a-week to the former Everton striker.
United will only allow Rooney to leave if they pull off ambitious plans to sign Fabregas and Tottenham midfielder Gareth Bale, 24, this summer.
Tottenham are preparing an £18m bid for Valencia striker Roberto Soldado, 28, that would break the club's record transfer fee.
Chelsea goalkeeper Petr Cech, 31, has warned Manchester City that spending big will not guarantee trophies.
Arsenal have told Queens Park Rangers goalkeeper Julio Cesar, 33, he will have to take a pay cut if he wants to move to the Emirates Stadium.
The Gunners are also back in the race to sign Real Madrid striker Gonzalo Higuain, 25, as Napoli are unwilling to match the £35m price tag set by the Spanish club.
Premier League pair Sunderland and Aston Villa are monitoring Inter Milan midfielder Zdravko Kuzmanovic. The Serbian international, 25, has been told he can leave the San Siro this summer.
Lyon striker Bafetimbi Gomis, 27, wants to join several of his French international team-mates at Newcastle - which could signal the end of Papiss Cisse's time at St James' Park.
Chelsea have rejected an enquiry from Liverpool about the availability of 23-year-old left-back Ryan Bertrand.
Sunderland appear to have ended their interest in Greek winger Charis Mavrias, 19, following the arrival of Italy international and 28-year-old midfielder Emanuele Giaccherini.
Norwich City manager Chris Hughton admits he wants to sign another striker after being linked with moves for Juventus forward Fabio Quagliarella, 30, and Sampdoria's Maxi Lopez, 29, as the Canaries bid to add fresh forward options.
Premier League newcomers Hull City are close to signing Ivory Coast striker Yannick Sagbo from French side Evian. Tigers boss Steve Bruce hopes a bid of £1.6m will be enough to capture the 25-year-old.
Chelsea will offer former striker Didier Drogba, 35, a player-coach role in order to tempt him back to Stamford Bridge from Turkish side Galatasaray.
Manchester United are set to reintroduce the words "Football Club" to their crest as part of a rebranding process. The words were removed in 1998.
Swansea manager Michael Laudrup has described reports linking him to the vacant job at former club Barcelona as "pure speculation".
But the Spanish champions have targeted another ex-Barca player - Luis Enrique - instead. The ex-Spain attacking midfielder, 43, only took charge of their La Liga rivals Celta Vigo last month.
Manchester United have moved around 60 season ticket holders from their seats at Old Trafford - in order to replace them with television cameras.