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Sports Illustrated compiles the latest transfer rumors and gossip from across the globe.
Premier League
Arsenal have reached an agreement to acquire Atlético Madrid forward Julián Alvarez for $57 million (£43 million) plus Viktor Gyökeres, though the transfer depends on whether Alvarez can be persuaded to give up his ambition of moving to Barcelona. (Source: Fichajes)
Bruno Fernandes is willing to leave Manchester United for Galatasaray should the Turkish club submit an offer matching his valuation of approximately $85.5 million (£64 million). (Source: Yağız Sabuncuoğlu)
Recent contract discussions between Fernandes and Man Utd broke down without a resolution, prompting interest from multiple clubs. Further talks are expected to take place. (Source: Gianluigi Longari)
Arsenal, Chelsea and Tottenham Hotspur are all keeping tabs on Man Utd winger Marcus Rashford. Spurs were willing to offer $53.5 million (£40 million), but United are adamant about not selling to a fellow Premier League club. (Source: The i Paper)
Bournemouth midfielder Alex Scott, having rejected a contract extension, is eager to make the move to Chelsea. The Blues are expected to step up their pursuit in a bid to fend off competing interest from Arsenal and Manchester City. (Source: The Standard)
Arsenal are prepared to spend $89 million (£66 million) to bring in Athletic Club winger Nico Williams as a replacement for Leandro Trossard. (Source: El Nacional)
Arsenal skipper Martin Ødegaard could potentially depart this summer. The Gunners are willing to entertain offers, but their steep valuation is expected to deter potential buyers, making a move next summer more probable before his contract runs out in 2028. (Source: TEAMtalk)
Tottenham's $53.5 million (£40 million) asking price for right back Djed Spence has been considered excessive by Inter, who have put their pursuit of the England international on hold. (Source: Orazio Accomando)
The consortium in discussions over a minority stake in Liverpool are hoping to bankroll a string of high-profile signings, with Bayern Munich's Michael Olise and Real Madrid's Vinícius Júnior among their targets. (Source: indykaila)
Meanwhile, Liverpool have made contact with Paris Saint-Germain as they look to sign Monaco winger Maghnes Akliouche. (Source: Sky Sports News)
PSG have entered the race alongside Real Madrid and Barcelona for Man City midfielder Rodri. (Source: Fichajes)
Aston Villa have shifted their focus away from Real Betis winger Abde Ezzalzouli toward Chelsea's Alejandro Garnacho, potentially clearing the path for Newcastle United to pursue the Morocco international. (Source: Estadio Deportivo)
Roma have made an approach to Chelsea regarding center back Axel Disasi, who carries a price tag of $23 million (£17 million). (Source: Foot Mercato)
La Liga
Barcelona's efforts to extend Ferran Torres's contract have been complicated by growing interest from both PSG and Premier League clubs. (Source: SPORT)
Speculation linking Real Madrid to Ferran is wide of the mark, though the World Cup winner has an 80% chance of departing Barcelona this summer. (Source: David Bernabeu)
José Mourinho has told center back Raúl Asencio that he does not feature in Real Madrid's plans for the upcoming season. (Source: Alberto Pereiro)
Real Madrid president Florentino Pérez has had a change of mind and is now prepared to go after Man City midfielder Rodri. (Source: Ramón Álvarez de Mon)
With Real Madrid struggling in their search for a new midfielder, voices within the club are advocating for a move to sign Roma's Manu Koné. (Source: Látigo Serrano)
Raphinha is seeking a conversation with Barcelona boss Hansi Flick to understand his role in an attack that has been bolstered by the arrivals of Anthony Gordon and Karim Adeyemi this summer. Depending on the outcome, he will weigh up a potential switch to Saudi Arabia. (Source: El Nacional)