EPL Rumour Mill: Has Luka Modric Signed on the Black and White Line?

So we are with another weekly roundup of the hottest rumours around the English Premier League. Who knows how true they are, but like they say, there's no smoke without fire.

It appears that Croatian wonderkid Luka Modric is set to join the burgeoning ranks at St. James' Park in a £15m deal, having been spotted around the ground earlier this week. The central midfield playmaker is regarded as one of the hottest prospects in Europe and would go down as a major coup by the new Toon boss, Kevin Keegan. The Geordie Messiah is also set to be handed a war chest by Mike Ashley said to amount to around £50m, giving him one of the most potent spending powers over the summer. Could Newcastle be about to join the chase for Europe?

Ronaldinho's future is still hanging in the balance, with a deal with AC Milan on the brink of collapse. Having agreed personal terms, the Rossoneri could not negotiate a fee with Barcelona, attracting potential suitors such as Manchester City and Tottenham. Whether the world famous creative Brazilian would fancy the Intertoto cup is another matter.

Rumours are also abound about the potential replacement of Avram Grant at Chelsea. If he departs expect Frank Rijkaard to step into the hot set and bring with him a huge money signing along the lines of Eto'o or even Kaka' should the Ronaldinho deal go through. 

Should Sven keep his job at Eastlands, the names currently being associated with the club are Peter Crouch, Aaron Lennon and Daniel Carvalho. A big shopping list by anyone's standards, but by no means exhaustive for the wily Swede.

On the red side of Manchester, expect a bid for Jose Bosingwa as a long term replacement for Neville and perhaps a cheeky offer for Klaas Jan Huntelaar. The Ajax striker is extremely sought after, though, and Fergie could expect competition from the Gunners for his signature.

Another name that has been through the mill is Wigan starlet Antonio Valencia. The South American winger was sought by Sir Alex last week and it seems Rafa Benitez has joined the chase. The other names being associated with the Mersey outfit are Phillip Degen, whose free transfer is just about done and dusted, Albert Riera of Bilbao and that man again, Gareth Barry.

The rumours about Barry refuse to die and the man himself hasn't ruled out a summer move. If he goes, a 'big four' team will surely come calling.

A final bombshell to leave you with. Whispers around Anfield are suggesting that Gillett will sell his half of the club to DIC, with the wealthy investment firm offering to stump up the cash for none other than Zlatan Ibrahimovic. Pure speculation? Probably.

Do you have any rumours you'd like to share? Please post comments below with any replies or stories of your own.