Latest transfer news

Cape Town - Romelu Lukaku, who expects his future to be resolved after the World Cup, is hoping to be given the chance to play for Chelsea, despite being linked with a loan move to Atletico Madrid. Chelsea are reportedly trying to finalise the signing of striker Diego Costa from the Spanish champions.

According to the Daily Mirror, Manchester City and Arsenal are battling it out for Cesc Fabregas, who has admitted he will be leaving Barcelona. The club is prepared to sell the Spain international for £30million and a return to the Premier League is expected. The Gunners have first refusal on buying the midfielder but City are reported to be at the front of the queue of interested clubs, which could also include Liverpool. Manchester United have been linked in the past but are said to have gone cold on him now Louis van Gaal is in charge.

The Times reports that Liverpool are expected to complete the signing of Rickie Lambert today after he successfully underwent a medical at the club over the weekend. Liverpool have also reportedly lodged a £25million bid for Lambert’s Southampton team-mate Adam Lallana, but the Saints refuse to lower their £30million price-tag on the midfielder despite his desire to move to Anfield. The Reds are also closing in on a £16m deal for Sevilla's 21-year-old Spanish left-back Alberto Moreno.

Frank Lampard, who once promised never to play for another Premier League club, could very well be persuaded by a Manchester City deal. Lampard is out of contract a Stamford Bridge and is also reported to be in talks with Major League Soccer franchise New York City. His future remains uncertain, though, and it is reported that City are hopeful he will sign a deal that will improve their English quota.

Arsene Wenger is reportedly on red alert to bring Mario Balotellito to Arsenal. It is said that AC Milan are ready to offload the former Manchester City striker – and the Gunners have been sounded out. Liverpool have also shown an interest in the Italy international.

Liverpool, Tottenham and Manchester United are all interested in signing 22-year-old Feyenoord defender Stefan de Vrij.

Brighton striker Leonardo Ulloa is wanted by Southampton to replace Liverpool-bound Rickie Lambert.