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Real Madrid are confident they will land Gareth Bale, 24, for a world-record £81m. But the Spanish giants believe Tottenham will make them wait till just before the transfer window shuts on 2 September.
Meanwhile, Tottenham are plotting moves for Roma's 21-year-old forward Erik Lamela, Ajax playmaker Christian Eriksen, 21, and Anzhi Makhachkala's 25-year-old winger Willian.
Manchester United are prepared to offer up to £40m for Barcelona midfielder Cesc Fabregas, 26, as manager David Moyes refuses to concede defeat in his efforts to sign the Spain international.
Arsenal target Luiz Gustavo - Bayern Munich's 26-year-old Brazil international midfielder - is set to join Wolfsburg for £12.8m.
Arsenal have not given up hope of signing Liverpool striker Luis Suarez, 26, and are considering a final bid of £49m.
Meanwhile, the Gunners will be told by Manchester City that 27-year-old Bosnia striker Edin Dzeko is not for sale.
Cameroon striker Samuel Eto'o, 32, is still keen to be reunited with Chelsea manager Jose Mourinho but has claimed that Manchester United are also eager to sign him. Eto'o currently plays for Russian team Anzhi Makhachkala.
Chelsea manager Jose Mourinho claims the Blues will not sell 26-year-old defender David Luiz, regardless of any offers that may arrive from Barcelona.
Manchester City are lining up a cut-price £3m move for Argentine defender Martin Demichelis after Real Madrid refused to sell Portuguese hard-man Pepe. Demichelis, 32, played for new City boss Manuel Pellegrini at Malaga for the past two years before moving to Atletico Madrid this summer.
Former Wigan striker Franco Di Santo, 24, has reignited his dream of playing for Argentina at the World Cup by joining German side Werder Bremen on a three-year deal.
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Everton boss Roberto Martinez is claiming victory in his attempts to prevent Manchester United from signing 28-year-old left-back Leighton Baines - but the Toffees are prepared to do business with United over 25-year-old midfielder Marouane Fellaini.
Wales manager Chris Coleman, who spent time managing in Spain, believes winger Gareth Bale would adapt well to life at Real Madrid if the 24-year-old joins the La Liga club from Tottenham.
Swansea's Dutch keeper Michel Vorm says he would not be able turn down Spanish giants Barcelona if they came looking for him. The 29-year-old Dutch goalkeeper was linked with Barca last summer as a possible replacement for Victor Valdes.
GLOBAL GOSSIP (From BBC Monitoring)
Manchester United are preparing a bid for Real Madrid's German playmaker Mesut Ozil, 24, according to Spanish TV.
The agent of Real Madrid midfielder Sami Khedira, 26, has made enquiries with Paris St-Germain over a possible move for his client.
Sporting Lisbon winger Bruma, 18, has attracted interest from Real Madrid, PSV Eindhoven and Galatasaray, according to his legal representative.
Sevilla have reached an agreement with Spanish midfielder Vicente Iborra, 25, and are waiting for approval from Levante to complete the transfer.
Former Aston Villa midfielder Stiliyan Petrov, who retired from football after being diagnosed with acute leukaemia, has called on the club's fans to end their chanting of his name in the 19th minute, saying: "We all have to move on."
New Fulham owner Shahid Khan, who also owns the NFL franchise the Jacksonville Jaguars has said he will not rebrand the London club as the Fulham Jaguars.