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Carlos Zambrano's contract at Eintracht Frankfurt expires. According to his agent Borussia Dortmund and Werder Bremen are interested in signing him this summer.
Should Schalke fail to agree a deal with Belgium coach Marc Wilmots, reports suggest they will turn their attention to Slaven Bilic and Niko Kovac.
Manchester City have made Aston Villa youngster Jack Grealish a long-term target, though they are unlikely to make a concerted effort to sign him until the summer of 2016.
After having talked to Sterling's agent Adrian Ward, both sides agreed that a transfer would not be a perfect fit for player and club. Sterling could go to Real Madrid instead.
Liverpool are lining up a £6 million bid for Chelsea defender Andreas Christensen this summer, though they face competition from Borussia Monchengladbach.
Manchester United have been told to move quickly to complete a deal for Ilkay Gundogan after AC Milan joined the race for the outgoing Borussia Dortmund midfielder.
Manchester United have emerged as favourites to sign Sevilla's Europa League final hero Carlos Bacca in a £21.3 million deal, ahead of Roma and AC Milan.
Liverpool representatives have met with Inter Milan's Piero Ausilio over a potential move for Mateo Kovacic. The 21-year-old Croatian is valued at around £21 million (€30m).
Inter Milan are keen to take Juan Cuadrado back to Italy. The Colombian has struggled to make an impact at Chelsea since moving from Fiorentina and is a £26m target of Roberto Mancini's.
Liverpool have been told by Southampton that they will have to up their £10 million bid to £15m if they want to sign Nathaniel Clyne this summer.