We'll be keeping you as up-to-date as possible on the latest transfer talk in On The Move. You can catch the morning newspaper gossip in Paper Round, read up on all the Latest Transfers and then follow the developing stories in our constantly updated transfer blog here:
11.59pm It's time for the transfer blog to close for today. Sleep tight, and we'll be back in the morning for another day of speculation and rumour.
11.12pm There's an impasse between Juventus and Udinese over a deal for Gaetano D'Agonstino which means the playmaker will not be heading for Turin.
10.33pm Espanyol will sign Argentine right-back Ivan Pillud on loan from Tiro Federal.
10.15pm Marco Marchionni has agreed to join Fiorentina from Juventus.
10.01pm Adel Taarabt wants to leave Tottenham. Spurs fans are probably surprised to hear he's even still there!
7.44pm The latest player to be linked with Manchester City? Bayern Munich defender Lucio. Meanwhile, Barcelona have denied Carles Puyol will be heading to Eastlands.
6.52pm Manchester United youth player Lee Martin has signed for Ipswich Town for an undisclosed fee.
6.22pm AC Milan will wait until the summer sales to make any moves in the transfer market, according to club administrator Adriano Galliani. Fans are protesting at a lack of new signings.
5.22pm More Liverpool news - Yossi Benayoun has signed a new contract.
5.01pm AC Milan look like they are about to start splashing the Kaka cash. They are in for Klaas-Jan Huntelaar of Real Madrid and Sevilla's Luis Fabiano. No Emmanuel Adebayor, then?
4.45pm It looks like Liverpool could be about to bolster their youth set-up with the signing of Nikolaj Kohlert. He's a 16-year-old Dane currently on the books of Esbjerg.
3.59pm Tottenham Hotspur are are tracking Athletic Bilbao striker Fernando Llorente and will offer €15m, but the Spanish club want no less than €30m
2.53pm Atletico Madrid want a suitable offer from Benfica for Jose Antonio Reyes by Saturday, or the move will collapse, according to the Spanish club's president, Enrique Cerezo.
2.24pm Hull City's search for firepower has led them to Fulham's Bobby Zamora, for some inexplicable reason.
1.41pm Cristiano Ronaldo has passed a medical ahead of his move to Real Madrid. The winger is to be unveiled at the Bernabeu tonight in front of an expected 80,000 fans.
12.23pm Roma defender Philippe Mexes is the latest to deny he has his heart set on a move to Stamford Bridge, or anywhere else for that matter. "It always gives me pleasure when a team is interested in me but I am happy at Roma," he said, not entirely convincingly.
11.48am Andrea Pirlo says he is staying at AC Milan, despite rumoured interest from Chelsea. "I am calm, I have a contract with Milan and I want to stay.''
11.15am Blackburn Rovers are to open contract negotiations with midfielders Steven Reid and David Dunn as both have entered the final year of their current contracts.
10.45am Bordeaux starlet Gabriel Obertan could be the next player to join Manchester United. The 20-year-old winger has attracted the attention of a host of European clubs but Sir Alex at the front of the queue according to president Jean-Louis Triaud.
10.05am Carlo Ancelotti is facing the media has and wasted no time in saying John Terry will be going nowhere. "We want him to stay for life," says the new Chelsea boss.
09.52am Looks like those finishing touches were completed over the weekend because Chelsea have just this second confirmed that Zhirkov is now officially a Chelsea player.
09.27am CSKA winger Yuri Zhirkov is apparently in London putting the finishing touches to his £18million move to Chelsea. Looks like Carlo Ancelotti will only have been in the job a matter of hours before he starts splashing the cash.
09.00am But don't worry Spurs fans because 'Arry is hoping to bring 36-year-old Luis Figo to White Hart Lane to lead his three-man squad. The Tottenham boss spoke to the Portuguese during a golf tournament in the Algarve.
08.30am Apparently Tottenham Hotspur manager Harry Redknapp has put his entire squad up for sale, apart from Aaron Lennon, Jermaine Defoe and Jonathan Woodgate. Not sure that will have a positive influence on team spirit.
08.00am Manchester City are preparing a £40m offer for Chelsea skipper John Terry. They had a £30m bid rejected last week.