For a list of confirmed transfers, check out the transfers page.
Visit our manager ins and outs page for a list of all the current bosses in the top five leagues in England and the Scottish Premiership.
Paris St-Germain will consider a summer move for Manchester United striker Wayne Rooney. United could ask for £35m for the 28-year-old, who is reportedly worried about his prospects at Old Trafford under prospective new manager Louis van Gaal.
Bayern Munich winger Arjen Robben, 30, will be Louis van Gaal's first transfer target after he takes over as manager at Manchester United.
Tottenham are willing to sell England winger Andros Townsend, 22, as part of a major summer clear-out at White Hart Lane.
Chelsea manager Jose Mourinho has told 23-year-old midfielders Eden Hazard and Andre Schurrle and 22-year-old Oscar that they must improve with at least one of the trio expected to leave the club this summer.
Mourinho also wants to make Belgian international Thibaut Courtois his starting goalkeeper next season with the 21-year-old set to return from a three-year loan spell at Spanish side Atletico Madrid.
And Mourinho is eyeing Real Madrid defender Raphael Varane, 21, who he managed for two seasons at the Bernabeu.
Rio Ferdinand could be a shock signing for Arsenal this summer. The 35-year-old Manchester United defender may move to the Emirates if he is not offered a new contract at United.
Arsenal are also preparing a £31m bid for Atletico Madrid striker Diego Costa. The 25-year-old has a £31m release clause in his contract and is also wanted by Chelsea.
Meanwhile, United are set for a huge spending spree with as much as £150m to be invested in five world-class players. Barcelona midfielder Cesc Fabregas, 26, is a £40m target.
Striker Danny Welbeck, 23, will stay at Manchester United in the wake of the sacking of manager David Moyes.
Liverpool manager Brendan Rogers has promised he will bring in six new faces this summer to help the squad challenge in the Champions League next season.
Manchester United are set to miss out on Real Madrid left-back Fabio Coentrao again as Cristiano Ronaldo has urged the Spanish club to keep hold of the 26-year-old.
The Premier League is facing a legal battle with three of their own clubs after it emerged that Cardiff City, Norwich City and Fulham have joined forces and instructed lawyers to fight the controversial decision not to dock Sunderland points for fielding an ineligible player.
Tottenham chairman Daniel Levy is satisfied Southampton boss Mauricio Pochettino's English is good enough for him to be considered the next Spurs manager.
Newcastle could turn to ousted Manchester United manager David Moyes if they sack Alan Pardew this summer.
Ryan Giggs is ready to turn his back on Manchester United to become a full-time manager with the 40-year-old set to leave the club after 24 years if prospective new boss Louis van Gaal does not give him a key backroom role.
National manager Roy Hodgson has warned Manchester United's England players that their poor form this season is likely to cost them a World Cup place with Michael Carrick, 32, and Tom Cleverley, 24, set to to miss out on the tournament in Brazil.
Singapore businessman Peter Lim has been linked with a potential takeover bid for Manchester United.
Former Manchester United manager Sir Alex Ferguson appeared to fall asleep in the stands during Saturday's 1-0 defeat by Sunderland at Old Trafford.
You can comment on the latest gossip on the BBC Sport Facebook page.