Arsenal are rumoured to be making a double swoop for Porto’s Jackson Martinez and Galatasaray’s Fernando Musiera.
The transfers could cost Arsene Wenger around £40m pound.
But the Londoners could miss out on target James Milner, with the Manchester Evening News reporting that Manchester City are to offer him a £165,000 a week contract to keep him at the Etihad.
Across the city, Manchester United are favourites to sign Sevilla striker Carlos Bacca (Metro) for around £21.3m.
Former Manchester United boss David Moyes has turned down a chance to manager Sunderland (Daily Mail), while Roy Hodgson could quit the national team role if public opinion turns against him at Euro 2016 (Daily Express).