Manchester City are in talks to sign Brazil's £30m-rated World Cup midfielder Ramires from Benfica after a deal for Aston Villa's James Milner stalled.
City are confident of clinching the £23m signing of Inter Milan striker Mario Balotelli to take their summer spending towards the £100m mark.
But Swedish striker Zlatan Ibrahimovic will reject Manchester City to stay at Spanish champions Barcelona.
Manchester United manager Sir Alex Ferguson is back on the trail of Werder Bremen's German World Cup star Mezut Ozil. Ferguson missed out on signing midfielder Ozil as a teenager.
Chelsea have had a £16.9m offer for 18-year-old Brazilian forward Neymar turned down by Santos.
Blues chairman Bruce Buck has warned left-back Ashley Cole against a summer move to Real Madrid.
Barcelona star Xavi has warned Arsenal they only have midfielder Cesc Fabregas "on loan" and that the Gunners captain will eventually return to the Nou Camp, where he started his career.
Fulham goalkeeper Mark Schwarzer has been offered a player-coach role to join Arsenal.
Liverpool want to sell David Ngog for £6m as they try to raise funds for new signings.
Tottenham striker Roman Pavlyuchenko is on the verge of a season-long switch to Portuguese side Sporting Lisbon.
Spurs are at the head of the queue to sign Real Madrid striker Raul, who is available on a free transfer.
West Ham are set to finalise a move for Lyon defender Francois Clerc, who is available on a free transfer having seen out his contract with the French club.
But Tal Ben-Haim's proposed move to West Ham and a reunion with former Portsmouth manager Avram Grant is on the verge of collapse after the defender failed a medical.
And Nice have rejected the Hammers' £12.5m bid for Loic Remy as the London club battle with Liverpool and another unnamed Premier League side to sign the striker.
Real Madrid boss Jose Mourinho is plotting a raid on former club Chelsea to sign defender Ricardo Carvalho, who he brought to Stamford Bridge from another of his former clubs Porto in 2004.
Wolves, West Ham and Blackburn are locked in three-way tussle to sign striker Benjani, who is a free agent after leaving Manchester City.
Wolfsburg boss Steve McClaren has failed in an attempt to take Manchester City striker Craig Bellamy to Germany on loan.
Real Madrid midfielder Mahamadou Diarra has committed himself to the Spanish, club despite an approach from Newcastle.
Wigan centre-back Titus Bramble is set to complete a £1m move to Sunderland, where he will be reunited with ex-Latics boss Steve Bruce.
Everton striker Lukas Jutkiewicz is joining Coventry City on loan.
Blackpool are leading the race to sign former West Brom midfielder Robert Koren on a free transfer.
Celtic manager Neil Lennon has confirmed that Portsmouth goalkeeper David James is high on his list of targets to replace Artur Boruc, who has joined Fiorentina.