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Manchester United boss David Moyes is ready to spend a world-record £85m to land Tottenham midfielder - and double Footballer of the Year award winner - Gareth Bale, 23.
And Moyes is refusing to give up in his pursuit of £40m-rated Barcelona midfielder Cesc Fabregas, 26.
Cristiano Ronaldo's move to the Premier League is a step closer after the 27-year-old Real Madrid forward dismissed reports that he had signed a new contract with Real Madrid.
West Ham hope to complete the permanent signing of £15.5m striker Andy Carroll, 24, from Liverpool as early as next week.
Tottenham boss Andre Villas-Boas has told midfielder Scott Parker, 32, and striker Jermain Defoe, 30, that they are among 10 players who can leave this summer.
Anzhi Makhachkala midfielder Odil Ahmedov, 25, claims he is wanted by Arsenal.
Swansea are tracking Espanyol defender Jordi Amat, 21, as club captain Ashley Williams is poised to leave the Liberty Stadium.
Chelsea boss Jose Mourinho has moved a step closer to signing Vitesse Arnhem's 20-year-old midfielder Marco van Ginkel after rivals Ajax admitted they could not compete with the Londoners.
Schalke's German playmaker Julian Draxler, 19, has issued a 'come and get me' plea to Chelsea and Manchester United after admitting it would be hard to turn down a move to either club.
Goalkeeper David Stockdale, 27, insists his future lies at Fulham despite interest from West Ham and Hull.
Midfielder Stephen Ireland, 26, has been told he is free to leave Aston Villa as manager Paul Lambert bids to slash the club's wage bill.
Stoke chairman Peter Coates has told manager Mark Hughes he will not be restricted to bringing in young players.
West Brom hope to reach a deal with midfielder Zoltan Gera, 34, over a contract extension. The Hungarian will become a free agent this summer but could yet stay at The Hawthorns.
Manuel Pellegrini's appointment as Manchester City manager is being held up by a £3.2m contract dispute with former club Malaga.
City, though, are adamant that the deal is not under threat and that Pellegrini will be confirmed as their manager shortly.
Wigan chairman Dave Whelan will decide on his new manager on Friday, with former England boss Steve McClaren and ex-Burnley manager Owen Coyle understood to be the leading contenders.
Paris Saint-Germain believe they will persuade Michael Laudrup, 48, to walk away from Swansea and become their new manager.
Roman Abramovich's senior adviser Marina Granovskaia will cement her status at Chelsea by joining the club's executive board.
GLOBAL GOSSIP (sourced by BBC Monitoring)
Inter Milan have turned down a £19.5m offer from Barcelona for Slovenian goalkeeper Samir Handanovic, 28.
Former Spain international Marcos Senna, 36, has announced that he will join the New York Cosmos after his contract with Villarreal expired.
German coach Bernd Schuster, 53, will replace Manchester City-bound boss Manuel Pellegrini at Malaga next season.
Manchester City and Real Madrid are leading the race to sign Napoli's 26-year-old striker Edinson Cavani - according to his mum.