Chelsea owner Roman Abramovich has flown to South Africa to try to secure the signing of Liverpool and Spain striker Fernando Torres for a British record £50m. The Blues have opened the bidding with a £35m offer for the 28-year-old, who is also a target of Manchester City, Barcelona, Real Madrid and Zenit St Petersburg.

New Liverpool manager Roy Hodgson wants to sign Joe Cole. The 28-year-old midfielder, who was released by Chelsea at the end of last season, has been linked with a move to Tottenham.

Barcelona manager Pep Guardiola has made a secret visit to Spain's World Cup base to try to seal the signing of Arsenal midfielder Cesc Fabregas.

Atletico Madrid striker Diego Forlan has declared that he would never return to play in England. The 31-year-old scored 17 goals for Manchester United in 37 starts, with 58 appearances from the bench from 2002-04 - and that will disappoint Harry Redknapp, who wanted to take the strike star to Spurs.

Manchester United are plotting a £25m-move for Inter Milan and Netherlands playmaker Wesley Sneijder, who has excelled at the World Cup in South Africa.

Bayern Munich have warned off Chelsea and other Premier League teams who want to sign their World Cup stars. The Blues are interested in midfielders Bastian Schweinsteiger and Thomas Mueller, while Manchester United want full-back Phillipp Lahm.

West Ham have launched a £5m bid for 23-year-old Mexico winger Pablo Barrera, who plays for Pumas.

Newcastle United want to take Manchester United midfielder Tom Cleverley on loan for next season. Cleverley impressed during a loan spell with Watford last season.

Manchester City have offered forward Robinho to Valencia on a season-long loan as the Eastlands club look to save on at least part of his £150,000-a-week wages.

Former Liverpool winger Jermaine Pennant is being offered to West Ham and Wigan by his Spanish club Real Zaragoza. However, Wolves have rejected the chance to sign the player.