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.
Liverpool and Manchester City are keen to sign 16-year-old Feyenoord midfielder Rodney Kongolo, who has been described as the "new Patrick Vieira".
Everton are ready to offer 33-year-old midfielder Gareth Barry £50,000 per week for the next three seasons as he continues to impress during his loan spell from Manchester City.
Arsenal may yet sign Schalke midfielder Julian Draxler, although the Gunners could face competition for the 21-year-old from Bayern Munich.
Hull City manager Steve Bruce is lining up a £2.6m summer move for Arsenal's 27-year-old defender Johan Djourou.
Turkish club Trabzonspor have offered Manchester United's Nemanja Vidic a lucrative salary in order to fend off interest from Inter Milan. The Serbia defender, 32, is set to leave Old Trafford when his contract expires at the end of the season.
Arsenal and Manchester United have been told they will have to pay at least £8m to sign Red Bull Salzburg's 21-year-old Austrian defender Martin Hinteregger.
Chelsea midfielder John Obi Mikel, 26, could be set to leave Stamford Bridge this summer, with interest being expressed by Inter Milan.
Manchester United are plotting an £8m bid for PSV Eindhoven defender Santiago Arias, having identified the 22-year-old Colombian as a cheaper alternative to Everton's Seamus Coleman.
Bacary Sagna has told his Arsenal team-mates he will be leaving when his contract expires at the end of the season. Inter Milan, Galatasaray and Paris Saint-Germain are keen on the 31-year-old defender.
Former Manchester United midfielder Gordon Hill says spending £200m on players this summer will not automatically turn around the club's fortunes.
Ex-Chelsea caretaker-manager Guus Hiddink says he will be the next manager of the Netherlands. Hiddink was in charge of the national team between 1994 and 1998.
QPR midfielder Adel Taarabt, 24, says he can become "the Messi of AC Milan", after hitting an excellent run of form on loan at the Serie A club.
Former Everton manager Joe Royle says David Moyes should be given until the end of next season to prove himself as Manchester United boss.
Arsenal title-winning midfielder Paul Davis says the club's record £42.5m signing Mesut Ozil is suffering with the pace and demands of the Premier League.
QPR will lose chief scout Ian Broomfield to Arsenal once his contract at Loftus Road expires. Broomfield, who worked with Hoops boss Harry Redknapp at Tottenham Hotspur, was head-hunted for the role by the Gunners' scouting team.
Manchester United manager David Moyes will look to improve the partnership between Wayne Rooney and Robin van Persie in a bid to get the club's season back on track.
Manchester City midfielder James Milner, 28, is taking Spanish lessons in order to improve his communication with Spanish-speaking team-mates including David Silva.
Thirsty Oldham supporters were left disappointed at Tranmere Rovers when the bar serving away fans at Prenton Park had to be closed because the beer had gone past its expiry date.
You can comment on the latest gossip on the BBC Sport Facebook page.