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.

Raul has signed for Schalke © Getty Images

23.59 BST: Right folks, the rumour mill appears to have ground to a near standstill for the day, but fear not - in just seven hours we will be back with another packed day's worth of gossip, speculation, and of course a few actual transfers. Join us then!

23.53 BST: There have been fewer and fewer mentions of Manchester United in this transfer blog as Sir Alex Ferguson has show reluctance to make any new signings. But many of you, including Adam Abikan , can't understand why Fergie has been so quiet:

"I am a Manchester United fan and I don't understand why we are not involved in the transfer market. Smalling and Hernandez alone cant bring back our title!"

23.48 BST: One player not going anywhere is Stephen Carr, who appears set to sign a new two-year deal with Birmingham.

23.44 BST: Manchester City striker Craig Bellamy will be the subject of a cheeky £4 million bid by Spurs, according to the Mail. Harry Redknapp is reportedly looking to take advantage of the fact that City are looking to sell the Welshman in a bid to trim down their squad.

23.36 BST: The Guardian is reporting that Scott Parker is keen to listen to what Spurs have to say despite West Ham angrily rebuffing Harry Redknapp's approach for their captain.

22.18 BST: Coventry manager Adrian Boothroyd has said he is happy to talk to Marlon King when he is released from prison next week but insists there are no plans in place to offer the disgraced striker a contract.

21.51 BST: Bad news for AC Milan fans as vice president Adriano Galliani says he does not believe the Rossoneri will make any new signings this summer. Slightly better news is that Gennaro Gattuso appears to have agreed to stay at the San Siro.

21.24 BST: Juventus were expected to strengthen this summer after a torrid 2009-10 season, but reader Jvefan10 has been left disappointed by the Bianconeri's apparent unwillingness to dip into the transfer market:

"Juventus need to stop fooling around and sign someone. It was hoped that the new board would bring about change to the club but everything so far seems very reminiscent of the Secco and Gigli transfer seasons."

21.10 BST: Liverpool boss Roy Hodgson refused to directly comment on whether Aston Villa defender Luke Young will be moving to Anfield. Hodgson, who appeared riled when also asked about Maxi Rodrigiez's future, said: "They are not playing tomorrow."

20.38 BST: It's that time of the evening when the rumour mill is turning a little more slowly, but there is still some action, with Sunderland believed to have completed the signing of Argentinian full-back Marcos Angeleri from Estudiantes on a three-year deal.

20.13 BST: Former Arsenal midfielder Gilberto Silva has been lined up for a return to Brazil with Flamengo in a swap deal that would see Kleberson return to Europe with Greek side Panathinaikos, according to the Mail.

19.59 BST: L'Equipe is reporting that Mali midfielder Modibo Maiga has signed a four-year contract with FC Sochaux. He becomes the club's third signing of the summer, arriving from Le Mans for a fee of around 2.5 million euros.

19.45 BST: Rafael Marquez' official website says he is to leave Barcelona after seven years with the club, with the Mexico captain likely to link up with former Barca team-mate Thierry Henry at New York Red Bulls in the next few days.

19.28 BST: Raul has spoken of his desire to add to his medal collection with Schalke, after completing his move from Real Madrid.

19.17 BST: The Scottish Sun claims that David James proposed move to Celtic could be hijacked by Bristol City, with Robins boss Steve Coppell reportedly ready lo launch a last-ditch bid for the England goalkeeper.

18.52 BST: Raul's move to Schalke remains the biggest definitive deal of the day, and despite his astonishing record with the Merengues, reader RedPhil believes that the Bernabeu dressing room may now be a better place without the striker:

"I think that Real Madrid might actually play like a team now that Raul's gone. Why do you think Spain has gone from talented to world champions? He might be good, but he's probably annoying."

18.44 BST: Lazio have made an offer for highly-rated midfielder Hernanes from Sao Paulo, according to the player's agent, while Biancocelesti president Claudio Lotito insists the capital club are “a step away" from a deal for Manchetser City left-back Javier Garrido.

18.10 BST: Aberdeen have completed the signing of former Celtic and Hearts midfielder Paul Hartley.

18.07 BST: Mario Balotelli looks increasingly likely to join Manchester City, but Jose Mourinho has warned that the striker could prove a problem.

18.05 BST: Le Parisien says Lyon defender Jean Alain Boumsong could join Panathinaikos on a free transfer. West Ham and Hamburg are also said to be interested.

18.00 BST: The Daily Mirror reports that Tottenham are keen on Germany starlet Mesut Ozil, but Werder Bremen sporting director Klaus Allofs told Bild: "I don't know anything about that. There is currently no offer for Mesut." Asked if there had been any approach, he added: "Enquiries don't mean anything to me because I have no idea if the clubs are serious or not."

17.50 BST: Stuttgart midfielder Sami Khedira's agent believes a move to Real Madrid could be moving closer for the Germany international.

17.43 BST: Datasport in Italy says Arsenal have offered €6 million for goalkeeper Federico Marchetti but Cagliari want €9 million. The Daily Mirror seems to think Wenger's still after Mark Schwarzer, though.

17.25 BST: Nottingham Forest boss Billy Davies is still keen on signing Aston Villa left back Nicky Shorey. "If Nicky Shorey does not get a Premier Division club and there is a possibility that we can do something, either on loan or permanently, he remains an option," he told the Nottingham Evening Post.

17.20 BST: Marseille's Hatem Ben Arfa may not be joining Newcastle, but his agent has suggested there's been interest from the Premier League. “Some concrete offers have come in from British and German clubs who showed real interest in my client,” Frederic Guerra told Calciomercato.it. “The Italian sides have so far only made some enquiries.” AC Milan and Parma are said to be the Italian clubs.

17.01 BST: Mexico winger Andres Guardado has returned to training with Deportivo La Coruna and insists he will be staying at the club. “I don't have any offers or any urge to leave,” he said. “If any offer comes in, the president will tell me, but I'm relaxed and my head is focused on Deportivo this season.”

16.47 BST: A comment from reader Tim Herb.

Since I started really following European soccer in high school, my favorite player has been Raul. I've loved watching him dominate La Liga, but was sad to see him benched in favor of Benzema. He's obviously still a class player, and will do wonders at Schalke as they look to make a run for the Bundesliga crown. I equate it to the Henry move, because they've both got a lot of football left in them.

16.31 BST: Lille defender Aurelien Chedjou has penned a one-year extension, keeping him at the club until 2014.

16.28 BST: West Brom are rumoured to be interested in Stoke's James Beattie - who seems certain to be on his way out of the Britannia.

16.23 BST: Anatoliy Tymoshchuk could leave Bayern Munich and sign for Steve McClaren's Vfl Wolfsburg.

16.19 BST: West Brom have decided not to loan out New Zealand international striker Chris Wood for the time being, though that may change if the Baggies strengthen up front,

16.12 BST: Klaas-Jan Huntelaar's agent has reportedly rubbished stories that Premier League clubs have bid for the Milan striker.

16.08 BST: It's been a quiet afternoon in the transfer world, and we've had lots of comments on the future of Per Mertesacker, so here's the thoughts of Jens:

I'm a Werder supporter since kindergarten, and a big fan of Per Mertesacker, but I think that he would not fit the Arsenal squad. I mean he's a gifted centre back, but he might be too slow for the Premier League...

15.44 BST: Chelsea have moved to quash rumours over Didier Drogba's future. ''Didier will be a Chelsea player next year. Didier is under contract,'' chief executive Ron Gourlay said. ''The thing about this time of year is we always get (this). For our players to be in the news - it's normal. But Didier Drogba will be a Chelsea player next year.''

15.26 BST: Could Antonio Cassano be about to leave Sampdoria? Reports coming out of Italy suggest he will not accept a pay cut in talks over a new contract.

15.09 BST: Everton striker James Vaughan could head back to Derby County for another loan spell.

14.56 BST: The Daily Mail thinks that Celtic could be about to make a move for Valenciennes' Ivory Coast left back Siaka Tiene.

14.44 BST: James Henry has completed a permanent switch from Reading to Millwall.

14.36 BST: Martin O'Neill seems to think James Milner might just stay with Villa, but there are no guarantees: "The latest stage of play seems to be Man City feel as if they have gone as far as they want to but we will wait with baited breath on that one. But I think obviously the overriding opinion of all Villa fans is that they would love James to stay at the football club. But as I speak here now at this minute, my honest opinion, I cannot guarantee that but we will see."

14.31 BST: USA striker Jozy Altordore reportedly has plenty of options for the new season. Ajax, Besiktas, Fenerbahce and two English clubs are said to want to sign him.

14.24 BST: Diego seems certain to stay with Juventus with the player insisting he has no plans to leave just days after the club announced he was not for sale. He told his official website: "I am well at Juventus and I want to remain here until the end of my contract. A player like myself would never offer himself to other teams. I am focused on my team, Juventus. And I want to give the fans plenty of satisfaction."

14.18 BST: Sevilla have confirmed that there have been no bids for striker Luis Fabiano, who has already committed his future to the Spanish club. "The situation is very simple for Luis Fabiano: there are no offers for him, and we want to keep him," Monchi told Calcionews24. "Sevilla and Fabiano have a strong bond, and it's difficult that this will be put into discussion."

14.13 BST: Swindon have made a second bid for Celtic pair Simon Ferry and Paul Caddis having seen their opening offer rejected. Manager Danny Wilson refuses to give up on the duo, with a deal believed to be in the region of £250,000 knocked back, although he acknowledges he must have one eye on potential targets elsewhere to ensure the Robins do not lose out.

14.07 BST: Chelsea have confirmed that boss Carlo Ancelotti will be handed more transfer funds if the Italian coach asks for them. Ancelotti has so far made just one major summer signing with the acquisition of Yossi Benayoun from Liverpool for £5 million.

14.01 BST: It looks like Milos Krasic may not be joining Juventus as quickly as we thought. "I don't know anything. If there was something new then they would have called us and told us," he is quoted as saying on Calciomercato.it. "Juventus are now in Dublin and so I don't know if they have spoken to CSKA, but no signs mean I cannot say, I think we cannot wait too much longer."

13.56 BST: Gazzetta dello Sport suggests that Inter Milan will offer £15 million plus Sulley Muntari for Javier Mascherano.

13.47 BST: The agent of New York Red Bulls forward Macoumba Kandji has told Soccernet that Manchester City and Tottenham Hotspur have both shown an interest in his client. Kandji - who joined the Red Bulls from Atlanta Silverbacks, initially on loan, in September 2008 - impressed in two recent friendlies against the Premier League sides, scoring and claiming an assist as the MLS side surprisingly defeated City on July 25.

13.40 BST: Newcastle boss Chris Hughton says the club will not be signing St Etienne's Yohan Benalouane, Olympique Marseille midfielder Hatem Ben Arfa or Chelsea full-back Patrick van Aanholt. "With Sol [Campbell] coming in, the focus is unlikely to be on a central defender now," Hughton told the Shields Gazette. "There's nothing in Benalouane. Arfa's a name that has come up more than anybody recently. It's a name we know, but it's unlikely. He [van Aanholt] did really well for us, but we're not looking into that one."

13.32 BST: Leeds United are set to offer a contract to Alex Bruce, son of Steve, after his release by Ipswich Town.

13.16 BST: Wolves boss Mick McCarthy is playing down his interest in signing Chelsea utility player Michael Mancienne on a permanent basis - at least for the time being. He is reported to have asked for a transfer and McCarthy said: "I guess people should ask their (Chelsea's) manager Carlo Ancelotti whether we should read anything into the transfer request. If I was reading anything into it, I suggest he wants a transfer! But that's the first I've heard about it. I'm not looking at signings at all at the moment."

12.50 BST: Jon Stead has reportedly turned down the chance to move to Bristol City in a loan switch from Ipswich Town. While fellow Town player Kevin Lisbie is wanted by Millwall on a temporary deal.

12.45 BST: Another twist in the Maicon transfer saga. Some news agencies may be reporting that a fee has been agreed, but Corriere dello Sport says that the Brazilian defender wants too much money to play for the Spanish giants.

12.37 BST: Corriere dello Sport believes that FC Copenhagen's Oscar Wendt is interesting Bologna.

12.31 BST: Reports in the North West suggest Blackburn could be interested in Man City misfit striker Jo. Big Sam will hope that he produces the form from his loan spell at Everton.

12.25 BST: Middlesbrough have completed a deal for Tarmo Kink who has the spent the last few weeks on trial at the Riverside. He moves for an undisclosed fee from Hungarian side Gyori ETO.

12.22 BST: Marseille coach Didier Deschamps has maintained that the French club cannot sign anymore new players this summer due to the current financial climate. He said: "It's the economic reality, lots of clubs are suffering. You have to adapt. Of course I'd prefer to have all the players so that we can quickly start working together.

12.17 BST: Blackpool are ready to smash their transfer record - twice - by making club record bids for a couple of players. Manager Ian Holloway revealed: "I offered more money than I have ever done in my whole career – and I've been a manager for 14 years and have bought some decent players. We smashed our record yesterday with a couple of offers. That sums up what we are trying to do."

12.11 BST: Roma sporting director Daniele Prade has ruled out a move for West Ham's Swiss midfielder Valon Behrami. "He is a strong player, we like him, but we have not made any offer to West Ham," Prade told Sky Italia. "Our priorities are a defender and a left winger. We are okay elsewhere."

12.08 BST: Reports in the North East are suggesting that Marton Fulop's move from Sunderland to Ipswich could break down as the Black Cats are frustrated with the length of time the deal is taking.

12.01 BST: West Brom's move for former Manchester United and Aston Villa midfielder Eric Djemba-Djemba has fallen through after the player reportedly failed a medical. A statement released by the club on their official website read: "West Brom have decided not to pursue their interest in Odense midfielder Eric Djemba-Djemba."

11.49 BST: Manchester City's links with some of Europe's top-rated young talents continue with reports from Italy that Fiorentina say they have turned down a €30 million offer from Manchester City for Stevan Jovetic.

11.43 BST: Another snippet from the Daily Mirror, with the paper believing that Marseille could turn to Roque Santa Cruz if Manchester City decide to sell.

11.40 BST: Mesut Ozil has been linked with a move to the Premier League, but now Marca says that Real Madrid may want to add the Werder Bremen player to their bulging midfield ranks.

11.36 BST: Arsene Wenger has once again reinforced Arsenal's position that Cesc Fabregas is not for sale at any price, having turned down an approach from Barcelona. ''It is only noise [the interest from Barca]," he said. "In our job we have to deal with what we can master. What we cannot influence is not to worry about.''

11.29 BST: The never-ending story of Sami Khedira's move to Real Madrid goes on. Can't he just sign? Now AS claims that Stuttgart have finally agreed a fee for his transfer to La Liga.

11.26 BST: Eidur Gudjohnsen spent the second half of last season on loan at Tottenham and now he could be heading back to the Premier League. The Daily Mirror thinks that both (managerless) Fulham and Birmingham City are interested

11.21 BST: Standard Liege are hoping to bring winger Tom de Mul back to Belgium from Sevilla.

11.17 BST: West Ham have turned down a bid for Scott Parker from Tottenham Hotspur and the east Londoners have adopted a militant stance on the midfielder's future. "I made a promise that I would not sell Scott and I will not, for any amount of money, break that promise to the West Ham supporters," co-owner David Sullivan said. "Scott is not for sale at any price, to anyone. West Ham supporters, for far too long, have had owners that sell their best players and promise one thing and do another."

11.12 BST: Tuttosport reports that Klaas-Jan Huntelaar and Mauro Camoranesi could be about to swap clubs. That's a deal between Juve and Milan.

11.05 BST: Benfica could also be losing a key centre back as David Luiz has been linked with Real Madrid. But Jose Mourinho has hinted a deal may be unlikely this summer. “There was a little conversation,” Mourinho told TVI. “There are prices that are prohibitive and desires that must be respected.”

10.59 BST: Porto defender Bruno Alves has been linked with the likes of Chelsea in recent months but A Bola reports that the Portugal international will be joining Russia’s Zenit St Petersburg for €23 million.

10.54 BST: Newcastle United have confirmed the signing of former Arsenal defender Sol Campbell on a one-year contract. "At this stage of my career I couldn't have wished for a better move,'' he told the club's official website. ''To join a club such as Newcastle United, with its proud tradition, heritage and magnificent support, is absolutely tremendous for me."

10.43 BST: It seems that Nicolas Budisso is desperate to leave Inter. He told Tuttosport: "I will continue to train with them because I am a professional, but I don't want to stay in Milan, it's a choice I made long ago. Now my future is in the hands of Inter, Juventus and Roma. The Juventus interest is a great honour for me."

10.39 BST: France Football reveals how free agent Francois Clerc, who has been linked with West Ham, is attracting interest from Liverpool and Stoke City. Palermo and Sampdoria are also keen on the full back who left Lyon at the end of last season.

10.31 BST: Corriere dello Sport suggests Juventus have set a deadline of seven days in which to sign striker Edin Dzeko from Wolfsburg. If they fail to sign the Bosnia international, they will redouble their efforts to land Milos Krasic from CSKA Moscow.

10.25 BST: Schalke coach Felix Magath has revealed on the signing of Raul: "It's great news for FC Schalke 04, I am pleased that we have succeeded in such an exceptional footballer and world-class striker switching to the Bundesliga for Schalke 04. He will be an inspiration. His qualities will help us. His commitment is a crucial step in our efforts to strengthen the squad for future tasks, and to restructure. I look forward to working with this good professional."

10.21 BST: In Mundo Deportivo, Euro 2008 winner Marcos Senna welcomes the news that Barcelona could be interested in signing him as a replacement for Yaya Toure. “For me it is an honour and a dream that Barca think of me,” said the 34-year-old.

10.15 BST: According to the Manchester Evening News, Sir Alex Ferguson has identified the ‘new Peter Schmeichel’ in Aalesunds goalkeeper Anders Lindegaard. The player’s agent, Michael Stensgaard, said: “Anders has been playing at a very high level for a long time now and that has been noticed around Europe. He absolutely has the ability to play in the Premier League”.

10.06 BST: Steve Bruce has played down suggestions that he is hoping to sign Stephen Ireland from Manchester City this summer. Bruce told the Sunderland Echo: "Terrific player and someone that anybody would be interested in. But, like Craig Bellamy at City, he'd be a very expensive proposition, both in terms of wages and a transfer fee, and we have to prioritise.”

09.59 BST: Stoke manager Tony Pulis has suggested that reports he is interested in Carlton Cole are wide of the mark. “We will see what happens,” he told the Stoke Sentinel. “I’m just glad no-one is linking us to the players we want.”

09.51 BST: Raul has reportedly signed a two-year deal with Schalke. More on that when we get it.

09.46 BST: Marca also believes another German international could be arriving at the Bernabeu. They report Real are working on the signing of Mesut Ozil. We have heard this story before, but the twist is that Real may be happy to wait until next summer, when the playmaker is out of contract.

09.31 BST: Spanish daily AS reports Sami Khedira has agreed his move to Real Madrid. The Germany international is out of contract at the end of the season so Stuttgart are looking to cash in now.

09.17 BST: Our reader Fabio gives us his perspective on the news that Liverpool are hoping to tie up a deal for Luke Young:

"I think the reason behind Luke Young's transfer is the versatility he has. He can play as a left back. And as known to many, Glen Johnson has been suffering injuries for months. Young can act as a decent back-up as well. We shall see how Roy strengthen the squad."

09.11 BST: FC Twente midfielder Theo Janssen is hopeful of reaching an agreement on a new deal with the Eredivisie champions. ''If my current contract runs until 2012, this (new contract) will probably be my last so it should be good,'' he told NUsport. ''I expect we will get an outcome tomorrow.''

08.39 BST: Arsene Wenger has spoken again about the Cesc Fabregas situation. "There are still noises from Barcelona - but that is all it is," he told The Sun. ''In our job you don't worry about things you cannot control. We are very happy with Cesc at the club. He is a very important and is our captain. We have worked very hard with him."

08.25 BST: Despite his error against the USA, Fulham was Rob Green to replace Mark Schwarzer if he decides to move to Arsenal.

08.19 BST: West Brom boss Roberto Di Matteo has confirmed his interest in signing former Manchester United and Aston Villa midfielder Eric Djemba-Djemba. ''Eric has come over to talk to us but we haven't got anything to announce yet. It's ongoing and we hope there will be a resolution soon. He's had a good couple of years in Denmark,'' he said.

08.12 BST: Espanyol hope to persuade cash-strapped Liverpool to part with Argentina winger Maxi Rodriguez.

07.55 BST: Everton defender Leighton Baines says that he wants key pair Steven Pienaar and Mikel Arteta to commit their futures to the club. "They are among our better players and a key part of what we are looking to do. We want to keep our better players to give us the best chance of success,'' he said.

07.36 BST: Brescia president Gino Corioni claims that Marek Hamsik - who he sold to Napoli for €5m - is now worth ten times that. "A side allegedly made a €30 offer for the player, but the president responded by saying he would not have sold him for €50m,'' he said. ''He is the best player in the world without the ball at his feet because he always goes into the right positions.''

07.15 BST: Daily Mail: Chelsea have been told they must stump up £33million to sign top defensive target David Luiz from Benfica. Cheick Tiote is an Ivorian international at Dutch club FC Twente, but his club have rejected a move from West Brom. Leeds striker Luciano Becchio coud leave Leeds. Queens Park Rangers are set to make a bid for Reading winger Jobi McAnuff. West Ham have offered midfielder Scott Parker new contract worth £20m over five years.

Daily Mirror: Arsenal turn to Germany star Per Mertesacker to solve their defensive crisis as Sol Campbell gets ready to sign for Newcastle. Blackburn Rovers boss Sam Allardyce is trying to sign Manchester City misfit striker Jo in a bargain deal. Nigel Clough is ready to battle Bristol City and Burnley for Wigan striker Jason Scotland.

Daily Star: Fernando Torres is set to stay at Liverpool after telling Roy Hodgson of his plans. James Milner's deal to Manchester City has been put on ice, as the club look to sell Craig Bellamy, Stephen Ireland and Roque Santa Cruz. West Brom winger Chris Brunt has signed a new contract.

The Sun: Arsene Wenger is lining up a £5.5 million bid for Italy World Cup keeper Federico Marchetti. West Brom may have to pay off defender Abdoulaye Meite to seal his £500,000 exit. Barcelona's debts of £369 million may hinder any move for Cesc Fabregas, despite their recent loan.

07.00 BST: Morning all, a few early ones before the paper round-up. We have Luke Young possibly on his way to Liverpool for £2.5 million - although why they want another right-back is anyone's guess - and Carlos Tevez has issued a plea to Fernando Torres to join him at Manchester City.