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Sports Illustrated compiles the latest transfer rumors and gossip from across the globe.
Premier League
Arsenal have agreed on an undisclosed fee with Atlético Madrid for Julián Alvarez, though it remains unclear whether the Argentine international would be open to a return to the Premier League. (Source: Indykaila)
Reports elsewhere suggest Arsenal have agreed on a figure of $174.9 million (£128.6 million, €150 million) for Alvarez, though the striker's own willingness to make the move has yet to be confirmed. (Source: Fichajes)
Big-spending Fiorentina are ahead of Juventus in the race to sign Manchester United's Joshua Zirkzee. (Source: TuttoMercatoWeb)
Chelsea and Aston Villa have reached a full agreement for Nicolas Jackson's transfer to the Midlands club in a deal worth $88.4 million (£65 million) in total. (Source: Fabrice Hawkins)
Manchester City's interest in Everton attacker Iliman Ndiaye could pave the way for Jack Grealish's departure. The Toffees are eager to bring Grealish back, while City are pursuing Ndiaye, though the compensation Everton would demand remains uncertain. (Source: The Athletic)
Manchester United's bid to sign Alejandro Balde appears to have hit a wall. The $47.6 million (£35 million) asking price from Barcelona, combined with the left back's salary demands, has led the Red Devils to back away from the pursuit. (Source: CaughtOffside)
Arsenal's Cristhian Mosquera has drawn significant attention from Turkish club Fenerbahçe and Saudi sides Al Hilal and Al Nassr. However, Mikel Arteta is expected to reject any advances for the versatile defender, who is valued at $47.6 million (£35 million). (Source: CaughtOffside)
Following a subdued summer window, Napoli are now actively looking to sign Chelsea's out-of-favor striker Marc Guiu. (Source: Gianluca Dimarzio)
On a separate front, Napoli have also made contact with Newcastle to explore the potential conditions of a deal for Nick Woltemade. (Source: Fabrizio Romano)
Despite genuine interest from Aston Villa, who tabled a loan proposal, AC Milan have accepted Galatasaray's offer of $52.5 million (£38.6 million, €45 million) for Rafael Leão. (Source: The Athletic)
Chelsea have reached a verbal agreement with Atalanta over the $54.4 million (£40 million) signing of center back Honest Ahanor. Whether the 18-year-old will be immediately sent out on loan remains to be seen. (Source: Fabrizio Romano)
Nottingham Forest are looking into a potential move for Fiorentina's Brazilian right back Dodo to add attacking width to their squad. However, their current bid of $8.2 million (£6 million) will need to be improved. (Source: Sky Sports)
La Liga
José Mourinho has pinpointed Arsenal's Martín Zubimendi as the missing piece at Real Madrid. A move for the creative midfielder is expected to cost $87.4 million (£64.3 million, €75 million) and would have the manager's full support. (Source: El Nacional)
Should Alvarez depart, Atlético Madrid are preparing to make a move for Celta Vigo's World Cup-winning forward Borja Iglesias. (Source: Fichajes)
Arsenal forward Gabriel Jesus is another name on Atlético Madrid's shortlist, with Nottingham Forest's Igor Jesus also reportedly on their radar. (Source: Fichajes)
Following the firm rejection from Atlético Madrid, Barcelona have abandoned plans to sign another striker and have shifted their focus to defensive reinforcements, with RB Leipzig's Castello Lukeba emerging as a target at $46.6 million (€40 million). (Source: El Nacional)
With Aymeric Laporte proving out of reach, Barcelona are also weighing up a move for Real Betis center back Natan, who is available for $29.1 million (€25 million). (Source: El Nacional)