Good morning all! I make it three days and 13 hours until the transfer window slams shut. Are you happy with your club's business? Are you expecting more players to come through the door? Stay tuned to see how the day unfolds.

Let's get things underway by listing the headlines that have emerged over the last few hours:

Shinji Kagawa 'in talks to rejoin Borussia Dortmund'
Glen Johnson 'relaxed' about Liverpool contract situation
Holtby: 'Tottenham Hotspur exit is a possibility'
Inter Milan confirm interest in Ezequiel Lavezzi

Xabi Alonso is edging closer to a move to Bayern Munich after Real Madrid confirmed this morning that they have reached an agreement with the Bundesliga champions regarding the sale of the Spanish midfielder.

Let's switch our focus to Manchester United for a moment and their midfielder Tom Cleverley. The England international's future at Old Trafford remains unclear, but a number of clubs have been linked with the 25-year-old. La Liga side Valencia have reportedly joined the pack to sign him after making an offer.

Good news for Crystal Palace fans as Yannick Bolasie signs a new three-year deal at Selhurst Park following the return of manager Neil Warnock.

Arsene Wenger has been addressing the media this morning in his weekly press conference and he has suggested that Arsenal are not finished in the transfer market. The Frenchman, who is likely to be without striker Olivier Giroud until the New Year, has admitted that he will be "on alert" until Monday's deadline. Read what Wenger had to say here.

DONE DEAL! Xabi Alonso has completed his move to Bayern Munich from Real Madrid by signing a two-year deal. The midfielder spent five years at the Bernabeu.

DONE DEAL! Swansea add teenager James Demetriou to their Under-21 ranks after he was released from Nottingham Forest at the end of last season. The striker has signed a two-year deal.

There are plenty of incomings and outgoings today, but one player who is staying put is Callum McGregor. The 21-year-old has signed a new five-year contract at Parkhead.

I think one day has gone by without mentioning Arturo Vidal, but the Juventus midfielder is back in the news today! Manchester United are believed to be keen on signing the Chile international before Monday's deadline, but Vidal has reportedly told friends that he is staying in Turin. It's a big blow for United if true!

Right, that's all from me for the time being, so I shall hand you over to Darren Plant, who will update you with any transfer news as it comes in over the next few hours.

Thanks, Danielle. It's been quite a busy morning on the transfer front, but if you have missed anything, don't worry - here is our lunchtime update.

Some news from north of the border now, and it appears that Celtic have moved a step closer to signing Sporting Gijon striker Stefan Scepovic after a fee was reportedly agreed for the 24-year-old.

BREAKING NEWS! This is a bit of a surprise. West Ham United have reportedly opened talks regarding a loan deal for Barcelona midfielder Alex Song. The former Arsenal man has been linked with a number of Europe's top clubs, but he could be about to move to Upton Park before the end of the transfer window.

The future of Fernando Torres has been long discussed this summer, and recent reports have linked the Spaniard with a move to AC Milan. However, manager Jose Mourinho has insisted that the £50m forward hasn't told him that he wants to leave Stamford Bridge.

Championship club Wolverhampton Wanderers have announced that out-of-favour midfielder Tongo Doumbia has sealed a permanent exit away from Molineux after the Mali international agreed to move to Toulouse for an undisclosed fee.

On that note, that will be all from me. I will now hand you back over to Danielle Joynson who will take you through the next four hours.

Thanks Darren! Right, let's begin with Juventus midfielder Arturo Vidal. The Chile international is said to be a target for Manchester United and so far the player has been quiet about his future. However, Vidal has tweeted in the last few hours suggesting that he will remain in Turin. His message reads: "Ready to start the championship! We are 100% Juventus !!!!!"

DONE DEAL! Liverpool announce that 18-year-old winger Jordon Ibe has joined Derby County on a season-long loan. Ibe had made three first-team appearances for the Reds since making his debut back in May last year.

A number of clubs are said to be interested in signing Manchester United midfielder Tom Cleverley this summer. One such club touted as a possible destination for the 25-year-old is Aston Villa. According to the Daily Mail, Cleverley held a meeting with Villa assistant boss Roy Keane about a possible move.

There's some interesting quotes coming from Manchester City star Sergio Aguero. The 26-year-old has admitted that he will return to Argentina to play for boyhood club Independiente when his contract expires at the Etihad. Don't panic City fans, Aguero's new deal added five years onto his contract, so it won't be quite yet!

DONE DEAL! Middlesbrough announce the signing of Chelsea striker Patrick Bamford on a season-long loan.

Right, that's me done for the day, so I shall hand you over to Sian Cowper, who will update you with the latest transfer news over the next few hours. Before I go, why not catch up with the recent headlines in our 7pm transfer update here.

Thanks Danielle. Let's start this evening with news of a done deal! Queens Park Rangers have announced in the last few minutes that goalkeeper Alex McCarthy has penned a four-year contract with the club after they agreed an undisclosed fee with Reading.

Liverpool have been one of the most active clubs in the transfer market this summer. There are just a couple of days left for any more transactions to be complete, and manager Brendan Rodgers admits that he is expecting there to be some players leaving.

Chelsea striker Fernando Torres has been linked with a move to AC Milan this week. The latest reports suggest that the Spaniard has agreed terms with the Serie A side, and will undergo a medical with the club tomorrow.

DONE DEAL! Chelsea have now confirmed that Torres is to join AC Milan on a two-year loan, assuming he passes his medical.

Montepellier's Benjamin Stambouli has been linked with a move to Tottenham Hotspur recently, and the French club has now confirmed that the two clubs have agreed a fee for the midfielder. He will now travel to London to discuss personal terms and undergo a medical.

Earlier we brought you the news that goalkeeper Alex McCarthy had completed his move to Queens Park Rangers, signing a four-year contract with the Loftus Road side. However, it seems that the Hoops weren't the only club interested in the former England Under-21 international, as Liverpool apparently failed in a late bid to hijack the transfer.

Another player who is repeatedly being linked with a move ahead of Monday's deadline is Monaco striker Radamel Falcao. Real Madrid, Arsenal and Juventus are among the potential landing spots being touted for the Colombian, but the Italian champions have said that it is unlikely he will heading to Turin.

While QPR have added to their squad with the arrival of Alex McCarthy today, there could be a departure before the end of the transfer window. Manager Harry Redknapp has confirmed that the club have received a bid from Crystal Palace for Armand Traore, and that it will be up to the player if he wants to leave.

QPR are certainly busy today! The latest reports suggest that the London club are agreed to sell Danny Simpson to Leicester City.

Well that's all from me this evening, but stick around a bit longer as Alex Meyers is here for next few hours to keep you up date with all the latest developments.

Thanks Sian. Well, one player that appears to be staying put this summer at Manchester City is Alvaro Negredo. The striker is currently out injured and his manager Manuel Pellegrini has confirmed that there are no plans to sell him.

Saphir Taider joined Southampton on loan from Inter Milan earlier this month, but the latest reports have suggested that he is set to leave the club without playing a match. It is believed that he has struggled to adapt to Ronald Koeman's training demands and will now move to Sassuolo.

Ajax defender Daley Blind could be on his way to Manchester United. According to various reports coming out of Holland this evening, a fee of £14m has been agreed for his transfer, with personal terms still yet to be discussed.

Well, that's all we've got time for this evening. I'll leave you with the news that Chelsea are reportedly lining up a move for Queens Park Rangers striker Loic Remy. Don't forget that we will be bringing you the latest coverage throughout the evening, until our blog returns later today. Until next time, goodbye!