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Talks over a club record deal worth in excess of £120million are ongoing, with the Reds also keen on Milos Kerkez and a striker.
Manchester United wasted no time in getting a deal for Matheus Cunha done and now they're trying to sign Bryan Mbeumo from Brentford, who wants a big pay rise and is all set for a move to Old Trafford.
Arsenal are also need more forward options - but there has been little in the way of updates as to whether they will pursue Viktor Gyokeres or Benjamin Sesko, while talks to finally bring Martin Zubimendi to the Premier League are ongoing.
Chelsea are having no such striker issues: they've already wrapped up a deal for Liam Delap and are now trying to beat their rivals to the punch in the race for Hugo Ekitike.
They're also pursuing AC Milan's Mike Maignan - yep, another goalkeeper - while his Rossoneri team-mate Tijjani Reijnders is set to join Manchester City too.
Follow all the latest transfer news and breaking stories below as they happen!
09:20Dan MarshWolves eye Ivanovic
Wolves have been keeping a close eye on Millwall striker Mihailo Ivanovic, as per South London Sport.
The Serb, 20, scored 12 times in the Championship last season after a summer move from Vojvodina.
And his impressive start to life in England has clubs on alert, including Wolves.
08:59KEY EVENTMan City make Reijnders breakthrough
Tijjani Reijnders is one step closer to joining Manchester City with a deal now in place for the midfielder to leave AC Milan.
According to Fabrizio Romano there is a verbal agreement in place and that Reijnders will move for €70m (£59m).
City will be eager to get the deal wrapped up before the Club World Cup so watch this space...
Tijjani Reijnders at Genoa vs AC Milan (Image:AC Milan via Getty Images)08:31Dan MarshCherries face Lucumi fight
By Ryan Taylor
Bournemouth's president of football operations Tiago Pinto is facing a battle with former club Roma for Jhon Lucumi's services.
Inter are also admirers of the former Genk man.
08:16Ryan TaylorBournemouth step up defender search
By Ryan Taylor
Bournemouth are stepping up their search for defensive reinforcements amid PSG's interest in Ukrainian international Illia Zabarnyi.
Luis Campos is understood to have jetted to England earlier this week for discussions over a potential deal for Zabarnyi.
The Cherries have already lost Dean Huijsen to Real Madrid in a £50m move and left-back Milos Kerkez is expected to join Liverpool.
One name that is now of strong interest to the Cherries is Bologna defender Jhon Lucumi.
(Image:Getty Images)
The Colombian international, 26, has been the subject of formal discussions and one source suggests a verbal offer has already been made.
Meanwhile, Bournemouth also remain in talks with Stade Rennes over a deal for left-back Adrien Truffert.
An opening bid has already been rejected for the 23-year-old, who is Stade Rennes' captain but the French club are seeking around €20m for the full-back.
Bournemouth do also have other names on their radar including Nantes defender Nathan Zeze and Marseille left-back Quentin Merlin.
08:03KEY EVENTSon set for Spurs exit
Son Heung-min and Tottenham could part ways this summer in a surprising development.
According to the Telegraph, Son is a target for clubs in the Saudi Pro League ahead of his 33rd birthday and the club are open to him leaving.
The South Korean international signed a new deal last summer, which means Spurs would get a fee if Son does move on.
Son Heung-Min could leave Tottenham (Image:David Watts/Getty Images)07:42Dan MarshMonaco want Pogba
Paul Pogba could be offered a career lifeline by AS Monaco.
That's according to RMC Sport, who claim the Ligue 1 have been offered the chance to sign the midfielder.
Pogba is a free agent after serving an 18 month doping ban.
(Image:Getty Images)07:20Dan MarshFernandes snubs Saudi bid
In case you missed it yesterday, Bruno Fernandes is staying at Manchester United.
The Portugal star had a monster proposal on the table from Al-Hilal, who were willing to pay £100million to sign him.
But it was confirmed yesterday that Fernandes rejected said bid.
(Image:James Gill - Danehouse/Getty Images)06:56KEY EVENTBlues to confirm Delap
We're expecting another #DoneDeal today, this time from Chelsea.
Reports say their £30m swoop for Liam Delap is complete with just an announcement missing.
That should change at some point today, so keep your eyes peeled...
Liam Delap is Chelsea-bound (Image:undefined via Getty Images)06:26KEY EVENTWirtz to Liverpool latest
Talks between Liverpool and Bayer Leverkusen over a deal for Florian Wirtz are ongoing.
The attacking midfielder, 22, is the Reds' No.1 target and all other suitors have pulled out of the race, leaving Liverpool with a clear shot at nabbing the Germany star.
However, any deal for Wirtz would likely be for a club record fee in excess of £120million.
Negotiations are ongoing and this is one to watch...
(Image:Pau Barrena/Getty Images)06:23KEY EVENTMan Utd make Mbeumo move
Manchester United are poised to approach Brentford over a deal for Bryan Mbeumo.
The Bees forward, 25, is United's next target after making Matheus Cunha their first summer capture.
Mbeumo plundered 20 goals in the Premier League this season and would give Ruben Amorim's side some much needed firepower.
Brentford value the Cameroon star at more than £60million, though, with Mbeumo also looking for a significant salary bump.
Bryan Mbeumo wants a move to Manchester United (Image:Mike Hewitt/Getty Images)06:21Dan MarshWelcome
Good morning and welcome to our live transfer blog.
We'll be keeping you up to date with all the latest transfer news and gossip this summer, so let's get cracking...
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