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AC Milan striker Mario Balotelli wants £5m-a-year after tax in order to join Arsenal. The Italy international wants £100,000-a-week in wages and has a price tag of £16m.
Gylfi Sigurdsson is set to return to Swansea from Tottenham in a swap deal with Ben Davies going to Spurs. The Swans will also sign Jefferson Montero while goalkeeper Michel Vorm will join Davies at White Hart Lane.
Manchester City will sell Javi Garcia following Alvaro Negredo's toe injury. The Premier League champions need to reduce their foreign player quota, with Eliaquim Mangala on his way, with Napoli keen on Garcia.
Liverpool are considering a move for Real Madrid striker Karim Benzema but the France international would cost £40 million in addition to a £200,000-a-week salary.
Atletico Madrid midfielder Tiago Mendes is considering a move to Valencia ahead of a return to Chelsea.
Lekhwiya are keen on a move for Wilfried Bony. The Qatar-based club are now manager by former Swansea City boss Michael Laudrup.
Arsenal have agreed a €4 million [£3.1m] fee with Nice for David Ospina and the Colombia international is now expected to sign a five-year contract with Arsene Wenger's side.