Real Madrid want to sign Marcus Rashford from Manchester United and plan to do so by offering the Red Devils a straight swap involving Japanese winger Takefusa Kubo, who Los Blancos will re-sign from Real Sociedad for €30m.
Also on Madrid's radar is Bayern Munich centre-back Matthijs de Ligt, who is a target for Man Utd.
Shakhtar Donetsk midfielder Georgiy Sudakov is being chased by both Manchester City and Liverpool.
Should West Ham United midfielder Lucas Paqueta be cleared of all wrongdoing in the investigation of his alleged betting breaches, both Arsenal and Tottenham Hotspur will make offers for the Brazilian.
Tottenham have made a shock €60m (£51m) bid to sign Barcelona midfielder Frenkie de Jong.
Barcelona do not want to sell De Jong but would listen to offers of €100m (£85m) — a figure which has not scared Chelsea.
Newcastle United will compete with Chelsea and Manchester United for the signing of Lille forward Jonathan David.
Barcelona have added Liverpool forward Mohamed Salah to their list of potential attacking reinforcements but, amid an acceptance such a signing is not possible this summer, are prepared to move for Gabriel Martinelli of Arsenal instead.
There is no truth to rumours that Paris Saint-Germain forward Kylian Mbappe was offered to Arsenal and Liverpool.
Chelsea are interested in signing Bayern Munich left-back Alphonso Davies, who is Real Madrid's top summer target ahead of Mbappe.
Arsenal are 'well positioned' to win the race for Brentford striker Ivan Toney this summer.
Luka Modric is increasingly likely to leave Real Madrid this summer as a result of his reduced playing time.
Everton and Crystal Palace are keeping tabs on Marseille forward Iliman Ndiaye, formerly of Sheffield United.
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