Today's transfer news and rumours:
- Liverpool are ready to meet Swansea's asking price of £15 million for midfielder Joe Allen. Manager Brendan Rodgers is determined to bring the Welshman to Anfield.
- Real Madrid assistant manager Aitor Karanka has confirmed that Tottenham's want-away playmaker Luka Modric is their top target ahead of next season. However, Spurs are demanding a whopping £40m for the 26-year-old Croatian.
- The La Liga champions are willing to shell out only £27 million for Modric but French giants Paris Saint-Germain are willing to match the £40m price tag.
- Arsenal are set to sign Spain midfielder Santi Cazorla from Malaga in a deal worth £15.6m.
- AC Milan have opened talks with Manchester City striker Carlos Tevez while Inter Milan are close to finalising a £7m swoop for left-back Aleksander Kolarov.
- Turkey club Fenerbahce are close to signing Everton defender Johnny Heitinga for a fee worth £5m.
- Manchester United out-of-favour striker Dimitar Berbatov has been linked to a move to Russia with Zenit St. Petersburg ready to pay £5m for the Bulgarian striker.
- Newcastle are interested in signing £15m-rated Marseille forward Loic Remy.
- Manchester United are considering a final bid to land Brazilian star Lucas Moura from Sao Paulo.
- Newcastle have denied claims that Demba Ba is on the brink of joining Rubin Kazan.
- Chelsea have confirmed the signing of Thorgan Hazard, younger brother of recently signed Eden, from France Ligue 2 side Lens.
More to follow...