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Tottenham are poised to activate the £8 million release clause of Sevilla centre-back Federico Fazio.
Roma have sent a delegation of officials to London to negotiate a deal for either Tottenham defender Vlad Chiriches or Manchester City's Matija Nastasic, with the Serie A side now resigned to losing Mehdi Benatia and eager to secure a replacement.
Liverpool and AC Milan have reached an agreement over Mario Balotelli, agreeing a fee of £16 million. The transfer could be completed by the end of the week and Balotelli has told fans he has taken part in his last training session for the club.
With Barcelona set to serve a two-year transfer ban, the Liga giants are hurriedly trying to strengthen before the end of the current window. Marco Reus tops their wishlist, and he would be loaned back to Dortmund for the rest of the season.
With Barcelona unable to sign players for two years after this transfer window, the Catalan giants are ready to go on a last-minute spending spree starting with signing Koke, who would then be loaned back to Atletico Madrid for the 2014-15 season.
Southampton will walk away from negotiations for Andros Townsend if Tottenham ask for Morgan Schneiderlin to be included as part of the deal. The Saints are keen on the England winger but will not sacrifice the Frenchman to sign him.
Atletico Madrid are eager to add an attacking player to their ranks for the upcoming season and are considering moves for Napoli's Goran Pandev and Bayern Munich's Xherdan Shaqiri, though they must first offload players before they can buy.
Roma directors Walter Sabatini and Mauro Baldissoni will meet with Manchester United and Arsenal this week to discuess the sale of £30m-rated defender Mehdi Benatia, who looks set to leave the Italian capital after rejecting a contract extension.
Napoli have ended their pursuit of Manchester United midfielder Marouane Fellaini. The Italians had been struggling to agree a deal already and, with the Belgian having picked up an ankle injury in training, have now broken off negotiations.
Torino are interested in signing Juventus's Sebastian Giovinco. The Granata are aware that a deal would be difficult, and Giovinco hard to convince, but they have made the 27-year-old their No.1 target as they prepare for life without Alessio Cerci.