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The Daily Telegraph's lead football story this Friday concerns Arsenal and Cesc Fabregas with both player and club seeking to calm fears that he is ready to quit the club.

While on Confederations Cup duty with Spain, Fabregas was quoted by various Spanish media outlets speaking in glowing terms about Barcelona and Real Madrid, and bemoaning the lack of trophies at Arsenal.

But with his tour of duty over the PR spin is in full-effect and the Gunners and their captain are insisting his future is with Arsenal. Sadly for them, once a rumour has started it's very tough to stop.

In the Daily Mirror it is reported that Sir Alex Ferguson is "on red alert" to make a £40m bid for Spain striker David Villa after Barcelona opened an auction on Thursday night for the Valencia striker who we all thought was going to Real Madrid.

In other United news, the Daily Star claim the Red Devils are a step closer to landing £30m-valued Lyon striker Karim Benzema after the French club placed a £15m bid with Porto for Lisandro Lopez to replace the 21-year-old French star.

The Daily Mirror claim a deal to secure Antonio Valencia from Wigan could see Portuguese winger Nani leave Old Trafford as a make-weight.

And The Times report that Gremio have rejected a request from United to take midfielder Douglas Costa on a three-week trial. Why? The Brazilian club want a straight cash bid, and are thought to be hoping to rake in around £17m.

In transfer news the Daily Express report that next on the hit-list for Man City manager Mark Hughes is Inter Milan's Brazilian right-back Maicon, with £10m the fee mooted.

And in the Daily Star there are reports that Stoke, linked on Thursday with moves for Dean Ashton and Michael Owen, are now planning a £5m raid for Newcastle striker Obafemi Martins.

And finally, in the Daily Express Stuart Pearce has hinted that he is aiming to step up from being England Under-21s manager and succeed Fabio Capello as senior boss. First things first, Stu: beat Sweden in the Euro U21s semi-final tonight and we then we'll see.

For the day's transfer news and latest rumours, join our On The Move blog for the latest updates.