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TOP STORY: Man City to spend big if Sane goes to Bayern
Oyarzabal, 22, scored a cracker for Spain's senior side in a 3-0 Euro 2020 qualifier win against Sweden June, then shone as La Roja's U21s won this summer's European Championship in Italy.
City manager Pep Guardiola has chosen the direct and powerful Basque player as the best replacement for Sane should the Germany international leave, and the Premier League side could offer a big salary rise.
However it remains possible that La Real will themselves look to keep him by improving significantly a current contract which was agreed last summer when Athletic Bilbao tried to tempt the Eibar born player to San Mames.
Bayern boss Niko Kovac told German broadcaster ZDF at the weekend that the Bundesliga champions are optimistic over sealing a deal for Sane.
"We want to sign a top player," Kovac said. "Leroy is a great footballer who has proved that in England and with the national team. We want him.
"Our club management is very committed behind it. You can see that it's not easy otherwise the deal would have been done by now. But I am confident and would like to think that we can get him."
21.55 BST: That's it for another day of Transfer Talk. Log on later to see what the morning papers are saying!
21.38 BST: Real Madrid forward Borja Mayoral has rejoined Levante on loan for the 2019-20 season. Sources told ESPN FC that Madrid had been trying to sell the 22-year-old for around €15m but failed to do so.
Mayoral, who spent last season on loan at Levante, was part of Spain's European Under-21 Championship-winning squad in July, scoring two goals in seven games.
Madrid announced the completion of the 12-month loan in a club statement. Sources told ESPN FC that the deal does not include a clause to make the move permanent next summer.
20.35 BST: Colombian international Mateus Uribe is looking increasingly likely to leave Club America, with Porto making an offer for the midfielder, according to ESPN FC sources. However, Benfica has also shown interest in the player and could have an advantage because the Mexican club still owes Benfica money for the signing of Nico Castillo earlier this year.
Meanwhile, reports in the Mexican press have suggested that Argentine international goalkeeper Agustin Marchesin could also be moving from Club America to Porto to replace Iker Casillas.
19.58 BST: Mainz playmaker Erkan Eyibil attracted the attention of Everton scouts in a goalscoring display when the two clubs met on Saturday, according to ESPN FC sources.
The rising star impressed scouts and coaches, who are expected to monitor his development over the upcoming season. Aston Villa are one of several other European sides to express an interest in the 18-year-old.
Eyibil has one year left on his Mainz contract and, unless he signs an extension, will be able to enter direct talks with other clubs in January.
18.59 BST: U.S. international striker Terrence Boyd has joined German third-tier side Hallescher FC, marking his return to Europe after a short stay in MLS with Toronto.
The 28-year-old did not settle in Canada after being acquired from 2. Bundesliga side Darmstadt 98 in preseason, failing to score in 13 league and cup matches.
18.30 BST: One day after the Real Madrid board thwarted his proposed transfer to Chinese club Jiangsu Suning, Gareth Bale has been left out of the Spanish club's squad for a preseason tournament in Germany.
Madrid face Tottenham on Tuesday, but Bale will not get the opportunity to take on his former club. His future, it seems, is as uncertain as ever.
Bale's former Spurs teammate Danny Rose, though, will be in Munich this week. Despite being left out of the ICC squad and told by manager Mauricio Pochettino that he could "explore" a move this summer, the full-back has been included in Tottenham's Audi Cup squad.
The 23-year-old midfielder, who is a Danish Under-21 international, moves to the Vitality Stadium after six years at Huddersfield. He started 25 Premier League games last season, scoring two goals.
Can we have the bill please? 🙋♂️ pic.twitter.com/BbzrqjM5y2— AFC Bournemouth (@afcbournemouth) July 29, 2019
17.17 BST: It looks as if Wolves are set to seal the signing of Milan striker Patrick Cutrone. The Express and Star reports that the 21-year-old will fly to England on Tuesday, where the deal will be made official after he completes a medical at Molineux.
Cutrone came through the Rossoneri ranks before making his first-team breakthrough in 2017-18. He has scored 13 goals in 63 Serie A games and has been capped once by Italy.
16.20 BST: Mexico international Hector Moreno has completed a move to Qatari side Al Gharafa SC.
Moreno -- who was apart of Mexico's 2019 Gold Cup-winning squad earlier this month -- moves to Qatar from Spanish side Real Sociedad, where he made 23 league appearances during his 18-month spell at the club, scoring two goals.
Al Gharafa SC are managed by former Fullham boss Slavisa Jokanovic, who took over at the club in June.
15.52 BST: Real Madrid forward Borja Mayoral is close to a season-long loan move to Levante, the player's agent told ESPN FC.
Mayoral -- who spent last season on loan at Levante -- was apart of Spain's European Under-21 Championship-winning squad in July, scoring two goals in seven games.
Sources told ESPN FC that Madrid had been trying to sell Mayoral for around €15m but failed to do so.
Mayoral's agent said there no clause to make the move permanent next summer.
15.24 BST: Real Madrid have told midfielder James Rodriguez that he will stay at the Bernabeu this summer after repeatedly being linked with a move away from the club, according to Spanish outlet AS.
James, 28, is reportedly set to stay at Madrid following the season-long injury of midfielder Marco Asensio in the club's 7-3 friendly defeat against rivals Atletico Madrid on Saturday.
15.02 BST: West Ham left-back Arthur Masuaku has signed a new deal with the club, keeping him at the London Stadium until 2024, the club have announced.
"For me it was an easy decision. The club wanted me to stay, and so I didn't even need to think about it -- it was just a matter of time," Masuaku said in a statement. "Now I am looking forward to the Premier League season and giving my all for this club I love."
We are delighted to announce that Arthur Masuaku has signed an extension to his contract until the summer of 2024! ✍️⚒ pic.twitter.com/awaryQbcdw— West Ham United (@WestHamUtd) July 29, 2019
14.29 BST: Callum Hudson-Odoi is close to signing a new contract with Chelsea, but the deal is "not done yet," boss Frank Lampard said in a news conference on Monday.
"If he had agreed then that would mean he had signed and we're not quite there yet but it's very clear that the club are working towards that. I think talks have moved on very well in the last week or two, hence why the headlines came out."
"I know I want to keep him here and the club wants to keep him because he's a player we cherish."
"He's not training with us yet but the injury is coming on ahead of schedule. He's not far away and I know he's done everything throughout the summer with our medical team to get back quickly."
14.03 BST: Harry Maguire didn't take part in Leicester City training today amid interest from Man United, Sky Sports have reported.
The 26-year-old defender is reportedly United boss Ole Gunnar Solskjaer's top target this summer.
The news comes as ESPN FC sources revealed that United centre-back Marcos Rojo could leave Old Trafford this window if he is unable to secure first team football.
13.30 BST: Belgian side Club Brugge have signed attacker Percy Tau from Brighton, the club have announced.
The South Africa international joined Brighton in 2017 but failed to make an appearance for the club, having been sent out on loan to Belgian side Saint Gilloise last term.
13.09 BST: Gareth Bale was recently reported to be on the verge of leaving Real Madrid for China but the deal fell through. ESPN FC's Gab Marcotti explains why.
12.49 BST: He loved this game!
The former France international made 379 appearances for United, having arrived from Monaco in 2006, and won five Premier League titles whilst at Old Trafford, as well as the 2007-08 Champions League title and three League Cup trophies.
Evra left United in 2014, going on to play for Juventus, Marseille, and West Ham, winning three Italian league titles and two Italian cups.
12.22 BST: Leicester have signed young defender free agent defender Mitchell Clark on a three-year deal, the club have announced.
The Wales under-19 international made his professional debut in August for hometown club Aston Villa in a 4-1 EFL Cup victory over Wigan Athletic at Villa Park.
11.59 BST: Newcastle have completed the signing of midfielder Kyle Scott and goalkeeper Jake Turner, the club have announced.
Scott, 21, signs from Chelsea having spent last term on loan at Dutch side Telstar, where he made 14 appearances, scoring twice.
Turner, 20, signs from Bolton having spent time on loan at Northern Premier League side Stalybridge Celtic and National League North side Darlington last term, before being named on the bench for Bolton's last league game of the season.
"It's excellent for me, and I can't wait to get started," Turner said in a statement. "Stepping up to a Premier League club is massive. We'll see where I progress. Playing in the Premier League is a dream, so we'll see what happens."
11.25 BST: Man United target Bruno Fernandes broke down in tears in Sporting Lisbon's 2-1 preseason defeat to Valencia on Sunday, amid rumours that it could be Fernandes' last game for the club, the Daily Mail have reported.
Head coach Marcel Keizer said that he is not sure where Fernandes will play this season, saying: "'We'll see if we can keep our players and then we'll see what we do. I hope he [Fernandes] stays, of course, like everyone else at Sporting, but we don't know."
11.03 BST: Gareth Bale has been left "fuming" after Real Madrid president Florentino Perez called off his proposed move to Chinese side Jiangsu Suning, according to the Sun.
The Wales international was reportedly on the verge of moving to China and was set to earn around £1m-a-week before Perez pulled the plug on the move.
10.06 BST: Former Real Madrid boss Santiago Solari has said that competition will be high in the club's central midfield if Man United star Paul Pogba signs for the Spanish giants this summer.
"At the moment I don't know which is the best choice for Real Madrid," Solari said in an exclusive interview with ESPN. "There are people who have to make this decision and they will do it well."
"Pogba? It's amazing because of his talent . If he gets there, there's going to be a lot of competition in the middle of the field and one of the big names will have to wait to play.
"It's true that Kroos and Modric aren't 20 years old and it's normal that the club is thinking of signing another player to strengthen the core."
10.08 BST: Former Manchester United boss David Moyes has questioned the club's transfer policy in an interview with the Mirror.
"They have now chosen to sign some young players, and when you look back they signed Wayne Rooney from us at Everton aged 18. Cristiano Ronaldo was also 18 when he joined, so over the years they have had a policy of signing young players and many of them have been the best up-and-coming future stars," Moyes said.
"I think Man United just need to follow their values of old.
"What you would ideally do at most clubs is sign three or four senior players a year. I would still try to follow that. Manchester United could never be a revolution. It has to be evolution."
The Scottish coach -- who has since had spells at Real Sociedad, Sunderland and West Ham -- is currently without a club but is interested in getting back into management
9.44 BST: Manchester City have made an enquiry to Barcelona over the transfer of Portuguese right-back Nelson Semedo, according to Spanish outlet Sport.
The 25-year-old is reportedly wanted by City after the club failed to land Juventus right-back Joao Cancelo, but Barca are refusing to begin any negotiations for the defender until an offer is made.
Barca have reportedly turned down multiple offers for Semedo this summer, who could be set to stay at the Camp Nou after boss Ernesto Valverde started the defender in preseason.
The Spanish club are rumoured to be interested in offering Semedo a new contract, even though the player's current deal runs until June 2022.
08.29 BST: Valencia are about to part company with director general Mateu Alemany, according to multiple reports in Spain, due to serious differences of opinion with owner Peter Lim over transfers.
Widely respected figure Alemany was credited by many with bringing stability behind the scenes at Mestalla as the team have qualified for the Champions League in the last two years and beat Barcelona in last season's Copa del Rey final.
But AS says that his relationship with Lim has broken down due to regular intervention by the Singapore billionaire in the buying and selling of players, and the Balearic Islander could resign during a meeting on Monday with the club president Anil Murthy.
Valencia had been close to signing Barcelona midfielder Rafinha, however that deal has not yet been completed. Alemany's departure would place doubt over the long term future of coach Marcelino Garcia Toral, given the close bond between the two.
08.00 BST: Mathias Pogba has denied that he has joined Spanish fourth tier side Manchego Ciudad Real as his brother Paul Pogba is about to sign for Real Madrid from Manchester United.
The signing of former Celta Vigo youth-team player Mathias, 28, was announced by Ciudad Real on Sunday, prompting speculation that he was returning to Spain so as to be nearby when his World Cup 2018-winning brother Paul completes a big money move from Old Trafford to the Bernabeu. Ciudad Real is about two hours by car from the Bernabeu.
However the striker told AS on arrival at Madrid's Barajas airport that this was not necessarily the case.
"We can do nothing about rumours," Pogba said. "I am here because I am here, not because my brother could be coming. Mathias Pogba wants to be here."
PAPER TALK (by Steve Wright): Napoli open door for Arsenal to sign Tierney
"Honestly, I'm not interested in signing him," Ancelotti said. "We have two good left-backs, so good luck to Tierney."
That might be music to the ears of Unai Emery, as Arsenal have targeted Tierney for weeks. However, the Gunners' most recent bid of £25 million was deemed too low by the Scottish club.
PSG beckons for Gueye
The Ligue 1 champions have had a long-standing interest in the Everton midfielder, stretching back to January, and are now ready to offer £28 million for his services.
Gueye made no secret of his intentions to leave Goodison Park when he handed in a transfer request in the winter window. The Toffees rejected PSG's bid of £21.5 million but have since signed Fabian Delph from Manchester City, clearing a path for the Parisian club to finally get their man.
The medical is expected to take place in the next couple of days.
Everton told Zaha not for sale
The Toffees submitted a bid of £55 million for the Ivory Coast international but had it rejected.
Following Aaron Wan-Bissaka's £50 million departure to Manchester United, Roy Hodgson's side aren't exactly desperate for money this window and are happy to keep Zaha's price tag at £80 million.
Arsenal also had a £40 million bid turned down, but Zaha made no secret of his desire to play for the Gunners, his boyhood club.
Arsenal finalising Pepe deal
Pepe will cost the club £72 million, but Emery is keen to spend money on other areas of the pitch too.
Outlining his plans, the Arsenal boss said: "It's one centre-back, one midfielder and one winger, and we are going to [try] to do that. I want a team that is better than last year, so the players can achieve a lot being with us this season."
-- Lazio midfielder Sergej Milinkovic-Savic's rumoured move to Manchester United is gathering pace, as Ole Gunnar Solskjaer's side have reached a verbal agreement with the player, according to Corriere dello Sport. The 24-year-old carries a hefty price tag of around £81 million, and United might be able to bring him in only if Paul Pogba leaves Old Trafford.
-- A potential transfer of Marseille winger Florian Thauvin to Arsenal will hinge on whether the North London club sign Pepe from Lille, La Provence reports. The Gunners aren't blessed with time to make the decision because Manchester United, Paris Saint-Germain and Atletico Madrid are all reportedly interested in Thauvin as well.