Talks between Chelsea and Inter are underway over a loan for Romelu Lukaku to return to San Siro just a year after a record transfer to Stamford Bridge. Inter are confident of reaching an agreement, even though the clubs have different valuations for the proposed deal.

But Chelsea are also interested in Inter wing-back Denzel Dumfries, who has been a reported target of Manchester United.

Chelsea target Jules Kounde could yet end up at Barcelona, with local reports in Catalonia claiming the Sevilla centre-back is in advanced talks with the Blaugrana. However, Chelsea could be offered defender Merih Demiral by Juventus, who remain keen on Jorginho.

Arsenal would be willing to break their transfer record to sign RB Leipzig star Christopher Nkunku, although the Gunners could be made to pay £100m for the Frenchman.

Manchester United are being linked with Porto midfielder Vitinha, who has a €40m release clause in his contract with the Primeira Liga club.

Paul Pogba has reached a verbal agreement with Juventus over a long-term contract and is expected to sign the deal early next month, by which time he will officially be a free agent.

Real Madrid want to sign Borussia Dortmund and England midfielder Jude Bellingham, who is rated at £78m and is also a target for Liverpool and Manchester United.

Arsenal have emerged as an option for Real Madrid winger Marco Asensio, who is thought to want a pay rise if he signs a new contract at the Bernabeu.

Bologna are prepared to sell Arsenal target Aaron Hickey this summer.

Paris Saint-Germain have failed in an initial bid for Sassuolo forward Gianluca Samacca and will likely have to pay the Serie A club a €50m fee to secure a deal.

Gareth Bale has new suitors in Newcastle and Aston Villa, as well as former club Tottenham.

Newcastle are concerned that ‘Toon Tax’ is being applied to their transfer targets, with selling clubs looking to take advantage of the Magpies’ new wealth.

West Ham and Newcastle are both showing interest in Southampton star James Ward-Prowse.

Everton are thought to have won the race to sign free agent centre-back James Tarkowski, but won’t announce their completed deal until the end of June.

Manchester United goalkeeper Dean Henderson is set to be just one part of a potential £100m spending spree for Nottingham Forest following their return to the Premier League.

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Listen now to 90min’s brand new podcast, Talking Transfers, with Scott Saunders, Graeme Bailey & Toby Cudworth. On their most packed show to date, the guys discuss Sadio Mane’s valuation as Liverpool win the race for Darwin Nunez, how Marc Roca joining Leeds could allow Kalvin Phillips to depart for long-time admirers Manchester City, the latest on Manchester United’s pursuits of Frenkie de Jong & Antony and much more.

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Nottingham Forest, alongside Brentford and Leeds are eyeing Cardiff striker Rabbi Matondo.

Sevilla are favourites to sign Rangers forward Alfredo Morelos. His contract at Ibrox expires next year and he could be sold for £20m this summer.

Andreas Pereira will return to Manchester United this summer once his loan with Flamengo ends, with the Brazilian club not expected to trigger an option to buy.

Arsenal aren’t prepared to let Lucas Torreira leave in a cut-price deal and have pulled the plug on a proposed move to Fiorentina. Any buyer will have to pay a top fee.

Newcastle, Manchester City, Liverpool and West Ham are all in the race to sign Scotland youth international Charlie McArthur. The 17-year-old is currently with Kilmarnock.