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Arsenal are set to make a £30m bid for Karim Benzema - who has one year of his contract remaining at Real Madrid - having failed to sign him on two previous occasions.
One player who could be returning to the Emirates is Carlos Vela, 25, after the Gunners reportedly activated a buy-back option in his Real Sociedad contract.
Liverpool are reportedly planning a club-record £60m move for Edinson Cavani, 27, if his Uruguay team-mate Luis Suarez does leave Anfield.
The Reds fear they could miss out on England international Adam Lallana, 26, this summer if Tottenham are successful in their attempts to poach Southampton boss Mauricio Pochettino.
German champions Bayern Munich are poised to launch a £25m bid for Chelsea defender David Luiz, 27.
The Blues will consider allowing goalkeeper Petr Cech, 31, to leave if the Czech international does not want to be understudy to Belgium international Thibaut Courtois, 21, who is expected to return from his loan at Atletico Madrid to become first choice.
Tottenham are set to make an £8m offer for Real Betis winger Alvaro Vadillo, 19, after chairman Daniel Levy gave the green light to the transfer.
Chelsea have joined Liverpool and Arsenal in the chase for MK Dons midfielder Dele Alli, 18, who has been dubbed the 'new Steven Gerrard'.
Former England midfielder Joe Cole, 32, is being eyed by Major League Soccer chiefs after leaving boyhood club West Ham for a second time.
Everton are keen on Hannover striker Didier Ya Konan, 29, as a replacement for Belgian Romelu Lukaku, 21, who has returned to Chelsea after a season-long loan at Goodison Park.
Chelsea are set to offer striker Lukaku a new contract.
Billy Jones, 27, is set to leave West Brom on a free transfer after rejecting a new contract at The Hawthorns.
Liverpool hope to sign Sevilla left-back Alberto Moreno, 21, this summer for a fee in excess of £15m.
Ryan Giggs, 40, has been offered the chance to become Louis van Gaal's assistant manager at Manchester United after talks with the Dutchman.
Southampton boss Pochettino, 42, will have to personally pay £2m if he wants a move to Tottenham because of a clause in his contract at St Mary's, which has one year remaining.
Hull owner Assem Allam insists he will continue with his attempt to change the club's name to Hull Tigers.
Fulham boss Felix Magath ordered his players back in for training, at least until the end of the week, following their relegation to the Championship.
Aston Villa captain Ron Vlaar, 29, says the squad are unsure what is happening over manager Paul Lambert's future at the club.
Manchester City midfielder Samir Nasri, 26, is considering international retirement after being overlooked for France's World Cup squad.
Liverpool manager Brendan Rodgers believes England captain Steven Gerrard, 33, faces a club-versus-country decision after the World Cup because of the "big demands" of next season.
Manchester City's head of elite development Patrick Vieira says English football must embrace Greg Dyke's Football Association commission's B-team plans.
FA Cup finalists Hull will offer manager Steve Bruce a new £2.5m-a-year contract this summer.
France midfielder Yoann Gourcuff, 29, has suffered another setback in his hopes of returning to fitness, after he injured himself while taking his dog for a walk.
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