Liverpool have agreed a deal, in principle, to sign Roma's Brazilian goalkeeper Doni, 31.
It will cost Real Madrid or Barcelona a £100m transfer fee and £250,000-a-week in wages to prise striker Carlos Tevez, 27, away from Manchester City.
Manchester United have told Real Madrid manager Jose Mourinho no amount of money could persuade them to part company with 23-year-old striker Javier Hernandez.
Inter Milan are in pole position to sign Brazilian midfielder Kaka, 29, from Real Madrid, although Chelsea remain interested.
Italy's World Cup-winning defender Marco Materazzi, 37, could be set for a one-season swansong at QPR before returning to current club Inter Milan as a technical adviser.
Tottenham are preparing to make a move for Real Madrid midfielder Lassana Diarra, 26.
Barcelona are trying to sign Cesc Fabregas, 24, in a cash-plus-player deal that is worth less than when they tried to buy the midfielder from Arsenal in the summer of 2010.
Arsenal and Manchester City are going head to head in an £8m battle for 24-year-old Lille striker Gervinho.
Aston Villa winger Ashley Young, 25, will complete a £16m switch to Manchester United this month but the Midlands club will fight to hang on to Liverpool target Stewart Downing.
Sunderland midfielder Jordan Henderson, 20, is edging closer to a £20m move to Liverpool. The deal could be done before Henderson joins up with his England Under-21 colleagues on Wednesday.
Liverpool are also set to move for Blackburn centre-back Phil Jones, who has a £16m release clause in his contract. Manchester United and Arsenal are also interested in the 19-year-old.
Sunderland are willing to let Henderson go and aim to spend the money on Manchester United's Danny Welbeck, Darron Gibson and Wes Brown.
Everton are keen on signing United striker Welbeck on loan. The 20-year-old spent last season on loan at Sunderland.
The Black Cats are weighing up £10m-rated Tottenham striker Peter Crouch, who turned down a chance to move to Wearside two years ago.
Wolves and QPR are leading the chase to sign West Ham's England defender Matthew Upson, 32.
Stoke are considering a move for Marseille's 23-year-old Burkina Faso midfielder Charles Kabore.
OTHER GOSSIP
Turkey manager Guus Hiddink will return to Chelsea for a second spell as manager - and wants to hijack Manchester United's move for Inter Milan midfielder Wesley Sneijder.
Chelsea owner Roman Abramovich will have to stump up £15m in compensation and wages to secure Hiddink's services for next season.
Former Blues boss Carlo Ancelotti, reportedly a target for Aston Villa, has declared that he intends to take a year off.
Mark Hughes is still a possible candidate to be Aston Villa manager - only days after the club appeared to back away from him following his exit from Fulham.
Former England manager Steve McClaren is also in the picture to succeed Gerard Houllier at Villa Park and could be given a £30m transfer pot.
Fulham want Martin Jol and Chris Hughton to become their new management team. Former Newcastle boss Hughton was assistant to Jol when the Dutchman was manager of Tottenham.
Arsenal must commit to large-scale investment in the summer transfer market before playmaker Samir Nasri will consider signing a new deal.
Tottenham defender William Gallas has claimed Arsenal manager Arsene Wenger was wrong to let him leave the Emirates.
AND FINALLY
England legend Sir Geoff Hurst fears "England will never win the World Cup again in my lifetime". Hurst, 69, who scored a hat-trick to help England win the 1966 World Cup with a 4-2 victory over West Germany, believes the players no longer see the national side as a priority.
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