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Sports Illustrated brings together the latest transfer rumors and gossip from across the globe.
Premier League
Manchester United and Real Madrid are both monitoring Chelsea's "disenchanted" star Cole Palmer. The England international, widely expected to depart Stamford Bridge, is also on Bayern Munich's radar, though any deal would require a fee of $199.3 million (£150 million). (Source: The Sun)
Chelsea's reported pursuit of Como playmaker Nico Paz — seen as a potential successor to Palmer's creative duties — has been rejected by the Argentine midfielder, who is set to head back to Real Madrid. (Source: CaughtOffside)
Liverpool are reportedly ready to make an unusual cross-Merseyside move by submitting an offer for Everton midfielder James Garner. Manchester United are also in the mix for a player who has attracted interest from Real Madrid as well. (Source: Fichajes)
Arsenal are reportedly open to selling both Gabriel Martinelli and Gabriel Jesus this summer if a suitable offer arrives. Atlético Madrid are believed to be strong candidates to make a move, with the La Liga club showing significant interest in the Brazilian pair. (Source: TEAMtalk)
Benfica forward Andreas Schjelderup has emerged as a possible alternative to Marcus Rashford if Barcelona opt against making his loan from Manchester United permanent. That said, the Red Devils are said to have lodged a $69.1 million (£52 million, €60 million) offer for the 21-year-old Norwegian. (Source: Fichajes)
Manchester United skipper Bruno Fernandes has reportedly given his enthusiastic backing to the club's pursuit of Newcastle United midfielder Sandro Tonali. (Source: Daily Mail)
LAFC have entered the race alongside MLS rivals Inter Miami to land Manchester City captain Bernardo Silva on a free transfer when the season concludes. (Source: CaughtOffside)
Arsenal are among a number of clubs tracking Borussia Dortmund midfielder Julian Brandt, who is expected to be available on a free transfer this summer. Aston Villa and West Ham United are also said to be keeping a close eye on developments. (Source: Ekrem Konur)
Despite speculation over a potential return to Manchester United or interest from the Saudi Pro League, Scott McTominay is said to be fully committed to staying at Napoli. (Source: Fabrizio Romano)
Liverpool are reportedly considering a summer move for Crystal Palace center back Maxence Lacroix. The French defender is expected to attract fierce competition, however, with Chelsea and Aston Villa also keeping tabs on him. (Source: TEAMtalk)
Arsenal are considered the "frontrunners" to secure the signing of Club Brugge's promising young German striker Nicolò Tresoldi, with discussions for the 21-year-old reportedly already underway. (Source: Christian Falk)
La Liga
The possibility of Robert Lewandowski extending his stay at Barcelona for one more season has not been ruled out, though the Polish striker may need to accept reduced wages. (Source: Fichajes)
Real Madrid have "absolutely no doubt" that Vinicius Junior will put pen to paper on a new contract at the club. All the key details are believed to have been ironed out, with only the formal signing remaining. (Source: José Félix Díaz)
Barcelona and Alessandro Bastoni have already begun discussing potential salary terms, though Inter Milan are yet to put a transfer fee on the table. (Source: Fabrizio Romano)
Liverpool and Real Madrid's hopes of signing Nico Schlotterbeck have been dashed after the Borussia Dortmund center back agreed to a contract renewal with the Bundesliga club. (Source: Florian Plettenberg)
Benfica have made contact with Real Madrid over the possibility of a loan deal for Franco Mastantuono ahead of next season. (Source: Fichajes)
João Cancelo is eager to remain at Barcelona beyond the end of this season, when his loan arrangement from Al Hilal is due to expire. Negotiations are believed to be in progress. (Source: Fabrizio Romano)