Both Manchester United and Liverpool are believed to be in the race to sign Real Madrid star James Rodriguez.
The Daily Star claim Jose Mourinho has been offered the midfielder, with United being constantly linked to the Colombia international over the last few months.
But Spanish outlet Don Balon are now reporting that Liverpool are willing to play the £52m asking price for James.
The website also claims United, PSG and AC Milan are all keen on the 2014 World Cup golden boot winner.
And Liverpool boss Jurgen Klopp has dropped a major hint that the Reds will spend big this summer.
The Merseyside club have been linked with big money moves for Virgil van Dijk and Mohamed Salah this summer and Klopp could well be set to spend even more.
In an interview with the Liverpool Echo, Klopp said: “It's easy to say what the people measure me against – titles and trophies some day and, of course, against subjective successes like Champions League participation.
“I was indeed made aware last summer that you won't get a badge for a positive transfer balance.”
Arsenal FC have announced the signing of defender Sead Kolasinac from Schalke.
The left-back will join the Gunners on a free transfer and will become an Arsenal player when the transfer window opens on July 1.
The 23-year-old has signed on a five-year deal, with the contract running through till 2022.
He told the club's website: "Arsenal has a huge tradition and I followed the club as a young boy, in the days of Jens Lehmann and Thierry Henry.
"Arsenal has always been a club that is well recognised in Europe and I'm pleased to be here."
Finally, Southampton full-back Ryan Bertrand is believed to want to leave St Mary's this summer.
The Mirror claims Bertrand told friends he believes he will move this summer, with Manchester City , Chelsea and Liverpool all keen on the defender.
City are believed to have been tracking Bertrand for months and have turned attentions to the Saints' man after failing to secure a deal for Monaco full-back Benjamin Mendy.
Bertrand would also fill a home-grown player slot for the Citizens, making him an attractive signing.
