The Toffees could land the striker permanently or on a loan deal, while Southampton pull out all the stops to try to keep Morgan Schneiderlin and Man City could axe Alvaro Negredo
Everton have agreed two different deals with Chelsea for the potential signing of Romelu Lukaku, Goal understands.
Lukaku is keen to return to Goodison Park on a permanent basis after a successful loan spell and the Toffees have prepared a deal worth around £20 million to sign the Belgium international.
But Chelsea and Blues boss Jose Mourinho are yet to decide whether or not to let Lukaku leave Stamford Bridge permanently this summer.
The striker could instead find himself on loan to Everton for a second season - his third consecutive campaign with another club since moving to Stamford Bridge after spending 2012-13 with West Brom.
Despite Lukaku scoring more than 25 goals over the last two seasons, Mourinho has made two significant signings to bolster his attacking options this summer.
Diego Costa has moved to Chelsea from La Liga champions Atletico Madrid, while Didier Drogba has returned to the club to reunite with Mourinho.
- By William Joyce
FOOT INJURY COULD LEAVE 'THE BEAST' MARGINALISED
Alvaro Negredo could find himself out in the cold from Manchester City's Champions League squad list following his broken foot.
The Spain striker is out for three months after recent scans confirmed the severity of the injury he picked up in a friendly against Dundee.
Negredo, 28, hopes to be back quicker but City boss Manuel Pellegrini is now considering all his options, including not registering 'The Beast' for Europe.
City's imminent £30m capture of Porto defender Eliaquim Mangala will mean the club have to leave some foreign players out of their Champions League squad to comply with Uefa's quota of 16.
Negredo has been targeted by both Madrid clubs this summer and they could be back in January if he is not cup tied in Europe.
City also have the knowledge of being able to register the forward in January, should they progress further in Europe.
- By Paul Clennam
SAINTS MAKE LAST DITCH BID TO KEEP SCHNEIDERLIN
Southampton will offer Morgan Schneiderlin the captaincy and a pay rise in a last ditch bid to prevent him joining the club's exodus of star players.
The Saints are playing hardball over a fee for the midfielder despite strong interest from Arsenal and Tottenham, who value him at around £15 million.
New manager Ronald Koeman will tell Schneiderlin he is central to his plans for next season when the France international reports for pre-season training on Monday.
Southampton are prepared to offer the 24-year-old several inducements, including the captaincy and better financial terms in an attempt to keep him for at least one more season. Schneiderlin is contracted to the south coast club for three more years.
Arsenal and Spurs have both held talks with Southampton regarding Schneiderlin and could look for the player to force a move if his club continue to block any deal.
The Saints have already cashed in on Adam Lallana, Luke Shaw and Rickie Lambert, and have agreed to sell Dejan Lovren and Calum Chambers to Liverpool and Arsenal respectively.
- By Wayne Veysey