Kaka became the centre of the media universe on Wednesday, with all other news stories orbiting around the AC Milan playmaker's proposed world record transfer to Real Madrid.

But while The Sun claim that the £62million deal is all but complete, following a meeting between Milan vice-president Adriano Galliani and Real's newly appointed president Florentino Perez, other news outlets are not so sure.

The Times report that Chelsea have launched a last-ditch bid to hijack the Brazilian's move to the Bernabeu (worth only a mere £56.2m, according to the broadsheet) and have offered Kaka "extraordinary" personal terms after they were advised that there was a hitch in the Madrid deal.

The Blues would have to better the £150,000 a week five-year contract on offer in Spain.

If Chelsea do miss out on Kaka they will turn their attention to Brazil team-mate Alexandre Pato, according to the Daily Telegraph. It seems new Blues boss Carlo Ancelotti is desperate to land at least one player from his old club and has already launched a £30m bid to sign the AC Milan starlet.

On any other day Gareth Barry's surprise £12m transfer from Aston Villa to Manchester City might have been the lead story but the Citizens are doing their best to wrestle back the limelight with a £32m bid for Carlos Tevez.

Barry's arrival is just the start of manager Mark Hughes' summer spending spree, according to the Daily Express, and as well as landing Tevez from Manchester rivals United he is also negotiating a £15m deal for Chelsea striker Didier Drogba.

But the ever increasing list of transfer targets doesn't stop there. The Daily Mirror report that City are also chasing Barcelona forward Samuel Eto'o, Everton defender Joleon Lescott and Arsenal centre-back Kolo Toure.

And if you thought today's newspapers couldn't rustle up any more big money transfer tittle-tattle to dazzle your eyes then you would be sorely mistaken.

The Daily Star claim that Barcelona are preparing a £50m bid for Arsenal midfielder Cesc Fabregas. The newly crowned European champions will face competition from Chelsea and Real Madrid, of course.

Meanwhile, in more mundane matters, failed Portsmouth manager Tony Adams told The Independent that he was set to become the new coach of Celtic with the club's former manager Wim Jansen taking on the role of technical director. The Scottish club quickly dismissed the claims as "complete garbage".