Euro 2020 and the Copa America are over and the summer transfer window is open, leaving Europe's biggest clubs clear to make a splash in the market. Check out the latest gossip below, and see all official deals here.
TOP STORY: Gunners circling Maddison
It is believed that the Foxes wouldn't be willing to listen to a £50 million bid at this stage, but a move that included a player going the other way could tempt them.
Maddison has impressed many since joining Leicester in 2018 from Norwich City for just over £20m. He's made 98 Premier League appearances in that time, having a hand in 38 goals. The performances managed to win over England boss Gareth Southgate in 2019, who gave him his first senior international cap against Montenegro.
The two Arsenal players reportedly available in any deal are Reiss Nelson and Ainsley Maitland-Niles. Both academy graduates have had top flight experience and, while a deal including the two may be difficult, the Gunners believe it could be done.
Nelson, 21, has made 22 appearances in the Premier League and 23 Bundesliga appearances on loan at Hoffenheim but is yet to fully break into the Arsenal squad despite his potential.
Maitland-Niles, 23, spent last season on loan at West Bromwich Albion, making 26 appearances in a campaign that ended in relegation.
21.41 BST: After the departure of Willy Caballero following the expiration of his contract, Chelsea are in the market for a new third-choice goalkeeper, and according to the Telegraph, the Blues are working to bring 29-year-old free agent and former Fulham No. 1 Marcus Bettinelli to Stamford Bridge.
19.27 BST: The BBC writes that Everton are closing in on a deal for 25-year-old Bayer Leverkusen winger Demarai Gray, who moved to the Bundesliga from Leicester City in January, but only made 12 appearances after joining.
18.20 BST: While Juventus and Sassuolo have been locked in negotiations over the transfer of 23-year-old midfielder Manuel Locatelli, Juve proposing a two-year-loan with an obligation to make the switch permanent for a transfer fee of €30m while the Neroverdi preferring an immediate transfer at a fee of €40m, Corriere dello Sport reports that a compromise has been found with the inclusion of a Bianconeri player. Sassuolo are said to be interested in midfielders Nicolo Fagioli (20) and Nicolo Rovella (19), while 19-year-old centre-back Radu Dragusin could also be in play.
17.13 BST: Manchester United have made contact with the representatives of 26-year-old Bayern Munich midfielder Leon Goretzka, according to Sport Bild, to discuss wages with the Red Devils keen to bring the Germany international to Old Trafford.
16.07 BST: Everton are keeping tabs on Manchester United's Jesse Lingard, according to The Sun.
Lingard has returned to Old Trafford following his loan spell at West Ham during the second half of last season, when he reinvigorated his career with nine goals in 16 Premier League appearances.
New Everton boss Rafa Benitez is reportedly keen to recruit more wide attacking players, having already signed Andros Townsend and nearing a deal for Demarai Gray.
However, Manchester United manager Ole Gunnar Solskjaer said earlier this week that Lingard is part of his plans for next season.
14.52 BST: Arsenal are preparing a £30m bid for Sheffield United goalkeeper Aaron Ramsdale, talkSPORT reports.
Ramsdale took over the No. 1 spot at Bramall Lane last season following Dean Henderson's return to Manchester United at the end of his loan spell, but he was unable to help the Blades avoid relegation.
However, that did not stop the former Bournemouth goalkeeper being called up to England's Euro 2020 squad after Henderson withdrew through injury.
talkSPORT reports that Arsenal have already had two bids for the 23-year-old rejected, but the Gunners are determined to get their man.
13.59 BST: The agent of Barcelona striker Martin Braithwaite has angrily denied reports that his client is set to join Wolves.
Braithwaite is one of several players linked with moves away from Camp Nou in order to free up space on the wage bill so that they can afford Lionel Messi's new contract and register their new signings in compliance with La Liga's financial fair play rules. However the Denmark international's representative, Hasan Cetinkaya, hit out at the reports and slammed agent Jorge Mendes, who has a close relationship with Wolves.
"Everything's s---, all these stories are false,' he said, as quoted by Mundo Deportivo. "Jorge Mendes has nothing to do with Martin Braithwaite. Jorge Mendes has no players at Barcelona. He can focus on Wolves, but I take care of my players at Barcelona.
"Martin Braithwaite plays for the biggest club in the world and works with one of the most important coaches in the world. From day one until now, he's exceeded expectations in terms of playing time and wellbeing at the club, and he's very happy. He was one of the best players at the European Championship with incredible statistics, and he'll continue with Barcelona."
13.20 BST: Real Madrid's first summer signing David Alaba says he would love to play alongside Raphael Varane as the France centre-back looks more likely to leave the Spanish giants and join Manchester United.
Varane, whose contract at Bernabeu is due to expire in June 2022, is Ole Gunnar Solskjaer's top defensive target and sources have told ESPN's Rob Dawson that United are closing in on his signing.
"Of course I would love to play with Varane," Alaba said during his unveiling on Wednesday. "For many years he has played excellent football and not just now. He is a wonderful defender and has great qualities."
12.33 BST: Given how many of the world's top players -- including Cristiano Ronaldo, Kylian Mbappe and Paul Pogba -- have contracts that are due to expire in 2022, would clubs be best off waiting until next year to make their big moves?
Should clubs wait for 2022 to sign stars on expiring contracts?
Alejandro Moreno cautions clubs when looking at which players could be on the market during the summer of 2022.
11.58 BST: Chelsea could be ready to let striker Tammy Abraham join Arsenal on loan to get him off the wage bill this summer, The Sun reports.
Abraham wanted by the Gunners and their London rivals Tottenham and West Ham, but the £40m transfer fee that Chelsea want for the 23-year-old is making a permanent move out of Stamford Bridge less likely.
A loan move would get Abraham's £80,000-a-week wage off the books, and allow Chelsea to focus on strengthening Thomas Tuchel's squad.
11.22 BST: AC Milan will make an improved bid to Manchester United to take Diogo Dalot on loan, according to Sky.
Dalot, 22, has a contract with the Red Devils until June 2023. The versatile full-back signed for United for £19m three years ago, but made just 11 appearances across all competitions for Ole Gunnar Solskjaer's side in the 2019-20 campaign. But he reinvigorated his career last term on loan at Milan, making 33 appearances in all competitions.
The Rossoneri are keen to have Dalot back for another season and want to include a permanent option as part of the deal. They had an initial offer turned down by the Red Devils, who want a loan fee of at least €4m. Milan are working on a new offer for the Portugal international.
10.24 BST: Atletico Madrid coach Diego Simeone wants Antoine Griezmann to be successful at Barcelona, amid negotiations that Griezmann could return to Atletico in a swap deal that would see Saul Niguez join Barca.
Simeone said: "Besides all that he gave to Atletico, I want him to do well at Barcelona. He is an extraordinary player. At Barca, having experienced seasons where he was not regular, he hasn't gone down from 20 goals. Those are important numbers and I hope he can consolidate as the player we saw at Euro 2020, at the World Cup and the five years he was with us. I don't expect anything other than for him to triumph at Barcelona."
Asked if he has pushed for Griezmann's return, he said: "I have spoken to the club and there are things we need to strengthen the team, we need a striker. If Griezmann doesn't come, someone else will. The club will decide what is best for its economy."
On the possibility that midfielder Saul could leave in this transfer window, with Premier League clubs also interested in acquiring the Spanish midfielder, Simeone said: "I've spoken to him and we can't disregard what is being rumoured. if you stay, you will work as you have done in the past and if you leave, the door will open in the best possible way.
"We've been together for eight years and I think I've given him everything as a coach and he as a player. If he stays, he will have to work without being gifted anything as there is a lot of competition in midfield and if he goes, I will give him a hug and wish him the best...whether it's at Barcelona or any other club."
09.42 BST: Tottenham have entered negotiation with Sevilla to sign Spanish midfielder Bryan Gil, according to COPE radio.
Spurs have made a €25m offer plus variables and included Argentine midfielder Erik Lamela in the deal to lure Gil to the London outfit.
Gil, 20, has attracted the attention of numerous clubs after scoring four goals and setting up three more in 29 league appearances while on loan at Eibar from Sevilla last season. His contract with Sevilla runs until June 2023. Earlier this summer, Valencia had approached Sevilla to sign Gil on a season-long loan with a purchase option included in the offer. However, the deal did not materialise.
Gil, who has made three appearances for Spain's senior team, is among the 22 players named by Spain coach Luis de la Fuente to compete at the Olympics.
09.00 BST: Rennes president Nicolas Holveck has said the club are "open" to discussing a deal to offload Manchester United target Eduardo Camavinga this summer.
Sources have told ESPN that United are monitoring the 18-year-old's situation at Rennes and Ole Gunnar Solskjaer is also keen to add a midfielder to his squad.
Camavinga has one year left on his Rennes contract and the club president said they are willing to let the midfielder leave for the right price.
"One of the priorities is to reduce the squad," Holveck told French radio station RMC. "We still have eight or nine players who need to leave. There also remains the situation with Eduardo.
"Discussions are still ongoing, everything is open, either for a departure during this transfer window -- if an offer satisfies everyone -- or to extend [Camavinga's deal]
"He won't leave for cheap, we've had a lot of discussions but nothing is complete one way or another."
- Paris Saint-Germain have made Paul Pogba their priority as a marquee signing this summer according to the Mirror. The France international would be able to discuss moving to a new club abroad this January due to his dwindling contract, putting further pressure on Manchester United to move him on if an agreement cannot be reached this summer. PSG boss Mauricio Pochettino is believed to be looking to raise funds through player trading in order to put in an offer for Pogba this summer. It is reported that around £50m could be enough to secure the midfielder from the Red Devils should an agreement not be met.
- Arsenal are interested in Barcelona goalkeeper Neto according to Mundo Deportivo. The 32-year-old is one of many players allowed to leave the Nou Camp this summer as the Catalonian outfit look to free wages in order to register new signings. Barca are said to have asked for around €14m for the player when approached for him a few months ago. The Brazilian's representatives believe that the Gunners are the most viable option. Tottenham were another side linked but the arrival of Pierluigi Gollini at Spurs will have reduced any chance of that move.
- Lyon have increased their valuation of Houssem Aouar ahead of a potential battle for the midfielder's signature this summer. Le10sport reports that the original valuation was at €20-25m but after much gathered interest in the player, that has increased to €30-35m. Manchester United, Liverpool, Tottenham and Arsenal are clubs that have been linked with the highly coveted 23-year-old. The Gunners are believed to be leading the pack with a first offer sent a few weeks ago but no new offer has been sent since discussions began.
- Juventus have set a £35m valuation on defender Merih Demiral according to Goal. The 23-year-old has been linked with a move to Everton since the arrival of Rafa Benitez and, following a season of sporadic appearances, Juve could let the centre-back go. Roma and Atalanta are two clubs who are also linked with the Turkey international.
- Liverpool have set a valuation of £15m for Harry Wilson amid interest from Fulham according to the Athletic. The 24-year-old has been linked with a number of clubs including Benfica, Brentford and West Brom but discussions between the Reds and Fulham for the winger have been ongoing. The Wales international has spent the past few seasons on loan which included spells at Bournemouth, Derby and Cardiff and his impressive numbers in the second tier have prompted interest as the Cottagers look to bounce back to the Premier League at the first time of asking.