Sports Mole rounds up all of the latest transfer news in the Premier League on Tuesday, July 14.

Tuesday morning's Premier League transfer talk news roundup:

Manchester City 'join Manchester United in Ferran Torres race'

Manchester City have reportedly joined the race to sign Valencia winger Ferran Torres this summer.

City have been given the green light to press ahead with their summer transfer plans after successfully appealing against their two-year ban from European competition, with the Court of Arbitration for Sport ruling on Monday that they can compete in next season's Champions League.

Manager Pep Guardiola is set to undertake a significant overhaul of his squad during the upcoming window as a result, with Man City looking to close the gap on runaway champions Liverpool.

Marca reports that Torres is among the players on Guardiola's shortlist, with the 20-year-old's contract due to expire next summer.

A host of Europe's top clubs are expected to provide competition for his signature, though, including Manchester United, Real Madrid, Juventus, AC Milan, Napoli and Borussia Dortmund.

City are in the market for a new winger after selling Leroy Sane to Bayern Munich, while they have also been linked with moves for Kalidou Koulibaly, Lautaro Martinez and David Alaba.

Torres has scored six goals and registered seven assists in 42 games across all competitions this season.

Manchester City to rival Barcelona for Lautaro Martinez?

Manchester City have reportedly earmarked Inter Milan striker Lautaro Martinez as a possible transfer target after seeing their two-year European ban lifted.

Pep Guardiola's side were cleared to compete in next season's Champions League after a successful appeal to the Court of Arbitration for Sport, with the decision also enabling them to press ahead with their summer transfer plans.

City are expected to undergo a significant squad overhaul after surrendering their Premier League title to Liverpool this season, while key players such as David Silva, Sergio Aguero and Fernandinho are coming towards the end of their careers at the Etihad Stadium.

The Daily Mail reports that Martinez could form a part of that overhaul as a long-term replacement for fellow Argentina international Aguero.

The 22-year-old has been heavily linked with a move to Barcelona this summer, but the Spanish champions' president Josep Maria Bartomeu revealed this week that talks are currently on hold.

Barca are understood to be struggling to meet Inter's asking price, with the Serie A giants unwilling to consider anything less than his £98.8m release clause and attempts to strike a player-plus-cash deal so far proving unsuccessful.

Martinez has scored 18 goals and created six more in 39 appearances across all competitions this season.

More transfer news from Premier League:

Pep Guardiola 'to centre Manchester City rebuild around Kalidou Koulibaly'
Manchester City manager Pep Guardiola reportedly plans to build his summer squad overhaul around Napoli centre-back Kalidou Koulibaly, who is also wanted by Man United. Read more.

Arsenal 'still in the running for Justin Kluivert'
Arsenal are reportedly still contemplating a move for Roma winger Justin Kluivert during the next transfer window. Read more.

Manchester United to rival Chelsea for Declan Rice?
Manchester United are reportedly prepared to rival Chelsea in the race to sign West Ham United midfielder Declan Rice. Read more.

Chelsea line up player-plus-cash bid for Jan Oblak?
Chelsea may reportedly look to sign Atletico Madrid goalkeeper Jan Oblak in a deal which would also include Kepa Arrizabalaga. Read more.

Manchester United 'among top options for James Rodriguez'
Manchester United are reportedly well placed to secure the signing of Real Madrid playmaker James Rodriguez during the next transfer window. Read more.

Manchester City 'to rival Manchester United for Jadon Sancho, Jack Grealish'
Borussia Dortmund winger Jadon Sancho and Aston Villa playmaker Jack Grealish reportedly emerge as potential transfer targets for Manchester City. Read more.

Liverpool 'planning Dejan Lovren contract extension'
Liverpool are reportedly planning to trigger an option in the contract of Dejan Lovren, keeping the centre-back tied to the club until 2022. Read more.

Manchester City 'planning £150m spending spree'
Manchester City manager Pep Guardiola may reportedly be allowed to spend £150m in the next transfer window after the club's successful appeal against a European ban. Read more.

Frank Lampard: 'Chelsea players are not fighting for their futures'
The Blues have already brought Hakim Ziyech and Timo Werner in for next season. Read more.

Manchester United defender Phil Jones attracting interest from Italy?
A number of clubs in Serie A are reportedly contemplating an approach for Manchester United defender Phil Jones. Read more.

Cristiano Ronaldo 'to remain at Juventus'
Cristiano Ronaldo will not be leaving Juventus during the next transfer window, despite alleged interest from Chelsea and Marseille. Read more.

Manchester United still interested in Corentin Tolisso?
Manchester United reportedly continue to consider an approach for Bayern Munich midfielder Corentin Tolisso. Read more.

Bayern Munich 'not interested in Hector Bellerin'
Bayern Munich reportedly have little interest in launching an approach for Arsenal defender Hector Bellerin. Read more.

Bayern Munich 'eye Premier League raid for Tanguy Ndombele, Tiemoue Bakayoko'
Bayern Munich are reportedly lining up summer moves for Tottenham Hotspur midfielder Tanguy Ndombele and Chelsea outcast Tiemoue Bakayoko. Read more.

Chelsea winger Willian 'rejects lucrative move to Inter Miami'
Chelsea winger Willian, who has also been linked with Tottenham Hotspur and Arsenal, reportedly rejects a lucrative contract offer from MLS side Inter Miami. Read more.