Chelsea have told Manchester City that they have until 5pm today to submit a bid for midfielder Enzo Fernandez. The Blues have informed their Premier League rivals that they will need to sepnd £120m to sign the Argentina though City had hoped to negotiate on the price.

City, meanwhile, remain in talks with Barcelona over Rodri, who is available for £60m. The club have rejected two previous bids for the former Ballon d’Or winner but talks are ongoing. City are also interested in signing World Cup breakout star Ayyoub Bouaddi from Lille while Savinho is moving closer to leaving the Etihad for Tottenham in a £65m deal though.

Mikel Arteta has said that Arsenal’s business is not done yet, with the Gunners receiving interest in Gabriel Martinelli from Galatasaray. The availability of Victor Osimhen has been raised in those talks, although Arsenal have also been linked with moves for Atletico Madrid’s Julian Alvarez and Paris Saint-Germain’s Bradley Barcola.

Barcola also leads Liverpool’s list of transfer targets and the Reds are in talks with PSG over a fee, though the European champions are demanding £145m to sell the winger. PSG chairman Nasser Al-Khelaifi did not rule out an exit for Barcola, however, saying: “We’re working calmly, we don’t talk too much. I can’t say whether he will leave or not. Today, he is a PSG player. We’ll see.”

*Follow all of the latest news, rumours and done deals with our live blog below *

Osimhen to replace Martinelli

A further addition to Arsenal’s talks with Galatasaray concerns the future of Victor Osimhen.

The Telegraph report that the two clubs have been discussing a move for the striker though it is unclear if Arsenal are driving the negotiations or if Osminhen has been offered to them.

Osimhen being included in a deal for Martinelli (and a lower fee) does seem like a proposal Galatasaray may favour and Arsenal are in the market for a new attacker.

Arsenal winger Gabriel Martinelli heading to Galatasaray?

Turkish clubs have been active in the transfer window and Arsenal winger Gabriel Martinelli is the subject of a £38.5m bid from Galatasaray.

That’s according to journalist Florian Plettenberg, who reports that the 25-year-old Brazil winger is top of Galatasaray’s list of targets.

Arsenal have signed a winger in Christos Tzolis this summer and have been linked with Julian Alvarez and Bradley Barcola.

Chelsea set Enzo Fernandez deadline and asking price

Chelsea are demanding £120m from Manchester City for Enzo Fernandez and the Blues have set their Premier League rivals until 5pm today to submit their bid.

Man City boss Enzo Maresca is an admirer of Fernandez, but relations between the clubs are frosty given City had to pay Chelsea £17m in compensation after Maresca stepped down last season.

Chelsea subsequently said they felt “let down” by the Italian, who was negotiating a move to City whilst in charge at Stamford Bridge.

City had hoped to get a reduced price on Fernandez’s valuation though it seems likely that Chelsea will dig their heels in on both the fee and the deadline.

Good morning!

Welcome to The Independent’s coverage of today’s latest transfer news, gossip and rumours.

It looks set to be a thrilling day with Chelsea setting a 5pm deadline for Manchester City to submit a bid for midfielder Enzo Fernandez.

City want the Argentine in case Rodri departs for Barcelona but they are hoping to reduce Chelsea’s asking price of £120m.

Elsewhere, Gabriel Martinelli could be set for an Arsenal exit with Victor Osimhen moving to the Premier League to replace him. These moves are only rumours as of now but could develop further.

Finally, Liverpool are playing the waiting game with PSG’s Bradley Barcola and have seemingly turned away from his teammates Ibrahim Mbaye due to the heavy price tags of both players.

Let’s get stuck into all the latest news...