The main transfer story of the day comes from the Daily Express, who claim that Michael Owen has a 'gentleman’s agreement' with Manchester City to sign for the richest club in the world this summer. The newspaper claims Owen has held talks with City officials, including manager Mark Hughes, in the last few weeks and told them he will join the Abu Dhabi-owned club, on the condition that they remain in the Premier League.

Meanwhile, City have apparently failed with a £14million bid for Olympique Marseille star Taye Taiwo, according to The Sun. And now manager Mark Hughes is ready to offer £19 million Brazilian striker Jo in part exchange for the versatile 23-year-old Nigerian ace.

The Daily Mirror insists that City are in for West Ham United striker Craig Bellamy and have made a £10million-plus bid to see off Tottenham Hotspur. City's bid includes cash up front, plus extra money in bonuses and the Hammers seem sure to sell him and then keep hold of as many of their other players as possible.

But The Guardian say that London-based Bellamy would prefer to join Spurs, although that could lead to a stand-off with his present club as City are offering more money to sign the Welshman.

The Daily Mirror claim that former Liverpool defender John Arne Riise is close to resurrecting his Premier League career by joining Newcastle United from AS Roma - on loan with a £6m permanent deal to follow.

Wigan Athletic striker Emile Heskey is set to rejoin Liverpool in the summer, according to the Daily Mail, Latics boss Steve Bruce will resist any offer in January as he needs time for £4.5million Colombia star Hugo Rodallega to settle in.

Nancy striker Marc-Antoine Fortune is keen on a move to West Bromwich Albion, according to The Times, but had a £2.2m bid turned down for the player this week.

The Daily Star report that Sheffield United boss Kevin Blackwell has confirmed that Stoke have enquired about striker James Beattie but the club have denied a £2.5million fee has been agreed for the 30-year-old, who previously played in the Premier League for Everton.