We'll be keeping you as up-to-date as possible on the latest transfer talk in On The Move. You can read up on all the Latest Transfers and then follow the developing stories in our constantly updated transfer blog here.

Are Man City making a final offer for James Milner? © Getty Images

23.45 BST: That's it for tonight, but we'll be back with you again on Sunday.

23.31 BST: Bolton boss Owen Coyle is closing in on the signing of Real Madrid’s Marcus Alonso Coyle told Sky Sports News: "We are trying to get a little bit closer to bringing in Marcos Alonso from Real Madrid. It's not quite 100% but we are well down the road with it and I would hope that by the start of the week we can conclude that."

23.04 BST: A signing? At this time on a Saturday night? Why not! Sunderland have completed the signing of Argentinian full-back Marcos Angeleri from Estudiantes for an undisclosed fee.

22.12 BST: It's very quiet on the transfer front tonight, so here's a comment we've received from Jeremy:

I would be more than happy to let Carvalho scutter off to Madrid, especially if his fee helps led fund the David Luiz deal. Ricardo was a good servant but nearing his sell by date.

21.27 BST: Some early chatter ahead of Sunday's papers, with the Mail on Sunday claiming Arsenal will bid £15 million for Everton's Phil Jagielka.

20.39 BST: Liverpool boss Roy Hodgson is still not certain that Fernando Torres will stay with the club. He said: "I'm afraid the only person who can give you the type of details you require is [managing director] Christian [Purslow]. It would be wrong of me to say too much."

20.07 BST: Neil Lennon has confirmed he will hold talks with David James. "He's hopefully coming up on Monday to have talks and look at the place and
we'll take it from there,'' Lennon told Sky Sports News.

19.51 BST: Spanish club Hercules are believed to be weighing up a bid for Sunderland reserve stopper Marton Fulop.

18.54 BST: Scunthorpe boss Nigel Adkins has confirmed that Gary Hooper will join Celtic next week.

17.27 BST: Sky Sports is reporting that David James will have talks with Celtic on Monday.

17.10 BST: Reports in Italy suggest Mario Balotelli ended Saturday's training session with Inter early and that it could be the last time he trains with the club. A move to Manchester City looks ever closer for the talented Italian.

16.41 BST: De Telegraaf details how Ajax’s move for AZ Alkmaar striker Mounir El Hamdaoui has stalled. The two clubs agreed a fee but the player’s wage demands have proved excessive, forcing the Amsterdam club to call a halt to talks.

16.17 BST: The agent of AC Milan midfielder Rino Gattuso has told Skysport 24 that Olympiakos are interested in signing his client this summer. Next week could be vital in determining his future as talks are planned with vice-president Adriano Galliani.

15.56 BST: Sampdoria sporting director Sergio Gasparin has denied reports that Antonio Cassano has signed a new contract with the Serie A side. “There is no meeting scheduled with Cassano and his agent,” said Gasparin. “There is definitely no rush to renew his current contract.”

15.36 BST: It appears reports linking Keisuke Honda with a move to AC Milan may have been wide of the mark as the CSKA Moscow star's agent claims there has been no contact with the Italian club.

15.20 BST: Federico Macheda’s agent has denied the young striker could be on the way out of Old Trafford this summer. "All the voices that have been going around are false," Giovanni Bia told Calcionews24.com. "Federico is held in incredible esteem by Manchester United and so he will not go, in fact he cannot wait for the new season.”

15.05 BST: BREAKING NEWS! Manchester City have now completed the signing of Aleksandar Kolarov. Here are the full details.

14.56 BST: Napoli playmaker Marek Hamsik says he would be happy to sign a new deal with the Italian club: "I have a contract here and I am happy to be playing for Napoli. I have not signed my contract yet, but there are no problems. I am aiming high with this shirt."

14.47 BST: Sky Sports News are reporting that Aleksandar Kolarov has now completed his move to Manchester City and signed a five-year deal at Eastlands. We will bring you official confirmation as soon as we have it.

14.20 BST: This deal has been bubbling under for a while but it has now been confirmed that Atletico Madrid have signed left-back Filipe Luis from Deportivo La Coruna.

14.02 BST: Corriere dello Sport claims Barcelona president Sandro Rosell is interested in bringing Mario Balotelli to Camp Nou. He better hurry up though, as Manchester City are believed to be close to a deal for the Italian prodigy.

13.31 BST: Marca reports that Barcelona do not have any need for Brazilian defender Henrique for the coming season so he is expected to rejoin Racing Santander. Racing president Francisco Pernia said: “Negotiations are well advanced.” Alexander Hleb is also expected to be on the way out of Camp Nou.

13.05 BST: Marca suggests that German World Cup star Mesut Ozil is set to be the subject of a transfer battle between Real Madrid and Barcelona. That will be good news for Werder Bremen. Who will surely benefit from an auction between the two clubs. Barca’s interest in Ozil is growing as their bid for Cesc Fabregas continues to stall.

12.56 BST: Mundo Deportivo also pushes the boundaries of believability by claiming that just a few days ago, Real Madrid president Florentino Perez attempted to convince Fabregas to sign for Real Madrid! Apparently he fears years of Barca domination if they sign the Arsenal skipper. Sounds suspect to us.

12.50 BST: As for the ongoing Cesc Fabregas saga, Mundo Deportivo claims the midfielder is “willing to do anything” to secure his dream move to Barcelona. It is also reported he will soon travel to London for talks with Wenger, although none of these claims are backed up by any concrete quotes.

12.42 BST: Felipe Melo has been linked with a move to Real Madrid but the midfielder says he has no intention of leaving Juventus this summer. "I want to remain with Juventus," he told Gazzetta dello Sport. "I really want to do well with this shirt. This year will be my revival year."

12.27 BST: Celtic target Biram Kayal's agent says the player has rejected interest from Galatasaray and FC Twente as he is so keen to move to the SPL club.

12.02 BST: David Ngog has been linked with a move to West Brom but the striker says he has no intention of leaving Liverpool this summer.

11.42 BST: David James is a free agent following his release by Portsmouth and although he has expressed an interest in joining Celtic, it appears Sunderland are ready to sign the England international.

11.22 BST: We have the full story of Ricardo Carvalho's desire to join Real Madrid. Chelsea fans, would it be sad to see him go, or is his time up? Let us know using the comments form below.

11.01 BST: Juventus showed late interest in Aleksandar Kolarov but it appears as though the Serbia international will be joining Manchester City and Roberto Mancini is 99% confident of completing the deal.

10.42 BST: It appears as though Ricardo Carvalho's time at Chelsea could be coming to an end as the defender has made clear he wants to join Real Madrid this summer. He told AS: "If there was a possibility to sign with Real Madrid, I would go there right now swimming or running."

10.27 BST: Corriere dello Sport claims Juventus may target Manchester City striker Emmanuel Adebayor as an alternative to Edin Dzeko should their bid to sign the Bosnian striker fail.

10.08 BST: It seems as though Gonzalo Higuain has taken a leaf out of the Barcelona book of how to unsettle a player, claiming this morning that Ashley Cole will join Real Madrid and that the Chelsea man would suffer less intrusion into his personal life in Spain. Naughty.

09.42 BST: Here is a quick round-up of the stories making the headlines in England this morning...

Daily Mirror: Tottenham are targeting Aston Villa winger Ashley Young, but Harry Redknapp is also eyeing Shaun Wright-Phillips and Craig Bellamy of Manchester City. The paper also claims that Liverpool are ready to cash in on Javier Mascherano by selling him to Inter Milan this summer.

The Independent: Manchester City are confident they will sign Aleksandr Kolarov from Lazio despite late interest in the left back from Juventus.

The Telegraph: James Milner will be the subject of a £24 million bid from Manchester City but the cash-rich club are adamant it will be a ‘final offer’ and they will not match Aston Villa’s £30 million valuation.

Daily Mail: Having won the race to sign Benfica midfielder Ramires ahead of Manchester City, Roman Abramovich is also hoping to sign David Luiz from the Portuguese club. The defender could cost around £27 million.

09.24 BST: Just a quick line from Germany where Schalke are confident of securing the signing of Raul, Real Madrid's all-time record goalscorer. That would be a real coup.

09.00 BST: Welcome to another busy morning of transfer speculation. We will be taking a quick look around the newspapers in a second...