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Tottenham are apparently set to improve on their initial bid for Brazilian striker Leandro Damiao.

According to this report at Goal.com, Spurs are hoping a second offer of £12.5 million will be enough to secure a deal for the 21-year-old.

Tottenham originally bid £10 million, but Brazilian club Internacional turned it down and said they were looking for £17 million.

Spurs have reportedly made Damiao a key target this summer and are determined to get their man.

Barcelona, Benfica and Juventus are also cited in the report as potential suitors.

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Arsenal are reportedly considering a move for Tottenham and England striker Jermain Defoe.

According to the Daily Star, Gunners boss Arsene Wenger sees Defoe as exactly the kind of finisher his side need for the new campaign.

Spurs are apparently "ready to listen to offers" for Defoe, with a starting price of £10 million being quoted in the article.

Defoe had a disappointing season with Tottenham, in which he struggled to find form and was shackled by injury problems.

Paris Saint-Germain are set to be the first club to make a summer offer for Manchester United striker Dimitar Berbatov.

According to this report at the Daily Mail website, the French Ligue 1 are readying a £12 million offer for the Bulgarian forward.

Berbatov was the Premier League's joint top scorer last season, but the rise to prominence of Javier Hernandez saw him knocked down the pecking order at Old Trafford.

Berbatov fell so far out of favor he missed out on a place in United's Champions League final line-up altogether.

It is not yet clear whether United are ready to part with the man they signed for over £30 million from Tottenham.

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Brazilian sensation Neymar seems destined to remain at Santos after his agent denied reports of a fresh offer from Chelsea.

According to this report at Metro.co.uk, Neymar's agent Wagner Ribeiro refuted claims that the Blues are back in the market for the 19-year-old, having seen a £19 million turned down last summer.

"He will not leave. Of course he will arouse interest, that is natural because of his performances - but I guarantee you there is no proposal for him," Ribeiro said.

Neymar has been tipped as the next big star of Brazilian footballer, and produced stunning evidence of his talent in a recent international friendly with Scotland.

Liverpool have reportedly had an £8 million bid for Ipswich Town striker Connor Wickman turned down.

According to this report by the Independent, the Reds are desperate to seal a deal for the 18-year-old forward, who's been labeled "the next Alan Shearer".

But Ipswich refused their initial offer and have told Liverpool they'll need to shell out £10 million to get their man.

Reds boss Kenny Dalglish thinks Wickman is worth the money and is said to be pushing the club to make the transfer happen.

Liverpool are apparently keen on investing in youth this summer.

Tottenham are reportedly contemplating a summer swoop for Roma striker Mirko Vucinic.

According to this report at the Daily Mirror website, Spurs boss Harry Redknapp is a keen admirer of the Montenegro striker—who could yet stand in the way of England reaching the Euro 2012 finals next summer.

The 27-year-old would apparently be available for around £12 million, and would provide Redknapp will the experienced forward option he's been looking for.

If you scroll down you'll see Spurs have also been linked to Miroslav Klose and Didier Drogba in recent days. They've also been linked to Diego Forlan.

If you're a striker, over 25 and pretty decent, chances are you'll be linked to Tottenham sooner rather than later.

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Joe Cole is reportedly on the verge of a £3 million move from Liverpool to Tottenham, according to this report at The Mail on Sunday.

Spurs have apparently agreed terms with Liverpool for the England midfielder and will give the 29-year-old a medical this week before completing the deal.

Cole joined Liverpool from Chelsea at the beginning of last season, with high hopes that the creative midfielder could return to his best.

But his first season at Liverpool started with a red card and never truly hit the heights he'd hoped. Injury played a part, with a troublesome hamstring blamed for limited his first-team starts.

Tottenham manager Harry Redknapp apparently believes he can return Cole to his former glories at White Hart Lane.

Liverpool are reportedly planning an "audacious" raid for Manchester City and England winger Adam Johnson.

Gossip masters Caughtoffside reckon Liverpool boss Kenny Dalglish is keen to bolster his wide midfield options after signing a permanent long-term deal at Anfield.

Johnson, 23, is keen to play more regularly and they're suggesting his first-team ambitions could be better served at Liverpool—and that may be enough to tempt him away from a lucrative contract at City.

The left-sided player had limited opportunities in Roberto Mancini's team last season.

Swiss teenager Xherdan Shaqir is reportedly a summer transfer target for Manchester United.

The 19-year-old winger has been linked to United by this report at Caughtoffside.com

Shaqir has also been linked to Juventus and Liverpool, according to the source, who reckon he's being tipped as one the brightest young talents in Europe.

United manager Sir Alex Ferguson is said to be keen on freshening up his squad and bringing in some new, younger players for the 2011-12 season.

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Manchester United and Manchester United are reportedly battling it out for the signature of Inter Milan midfielder Wesley Sneijder.

According to this Daily Mirror report, the 26-year-old Dutchman has flown to America to make a decision on which of the Premier League giants to join.

Sneijder is a long-term United target and viewed by Sir Alex Ferguson as exactly the type of player he needs to replaced the retired Paul Scholes.

Meanwhile City are also said to be big admirers, with Roberto Mancini looking to strengthen ahead of their debut adventure in the Champions League.

The price being bandied about is £30 million.

Napoli may decide against signing Tottenham midfielder Wilson Palacios, after the London club put a price tag of £12 million on the midfielder.

According to this report at The Sun, the Italian side are extremely keen on securing the services of Honduran international Palacios for next season.

The two clubs have been discussing a deal, but Napoli officials are said to have rejected a fee of £12 million for the 26-year-old.

Meanwhile, Spurs are being linked to two veteran strikers in Didier Drogba and Miroslav Klose.

Drogba is thought to be Harry Redknapp's first choice, but he's also keeping a keen eye on Germany's World Cup hero Klose.

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Liverpool are being strongly tipped for a summer move to sign Birmingham reject Sebastian Larsson.

The midfielder was released by City after the club dropped down to the Championship, prompting a flurry of interest from Premier League suitors.

According to Caughtoffside.com, Liverpool manager Kenny Dalglish is very keen on bring Larsson to Anfield.

Sunderland, Aston Villa and Everton are also keen, but it's thought Liverpool are leading the race.

The Swedish international winger would give Liverpool much-needed squad depth in wide midfield.

Manchester City striker Emmanuel Adebayor may have the choice between signing for Spanish giants Real Madrid and Italian giants AC Milan this summer.

According to The Sun, Real are not prepared to meet City's asking price of £12.5 million–but would be keen on a deal if the price dropped to £8 million.

Adebayor enjoyed a decent loan spell at the Bernabeu this season and Real boss Jose Mourinho was apparently impressed enough to countenance making the arrangement more permanent.

Meanwhile, AC Milan are lurking with intent. The Italian champions are keen to make a strong push in the Champions League and view Adebayor as potentially influential addition to their squad.

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Striker Kevin Phillips is set for a move to Championship side Watford, after being released by Birmingham City.

According to this report at The Sun, the former England international will return to the club where he played between 1994 and 1997, in the hope he can help them back into the Premier League.

Phillips was part of the relegated Birmingham team last season, and has been viewed surplus to requirements as they look to bounce straight back into the top flight.

The former Sunderland, Southampton and Aston Villa man scored four goals in 20 appearances last season.

Watford will be looking for a better return if they bring him to Vicarage Road.

Arsenal are reportedly preparing a £15 million offer for Marseille midfielder Mathieu Valbuena.

According to Caughtoffside.com, Valbeuna is keen on a move to the Premier League and could well get his wish this summer.

Arsenal manager Arsene Wenger is said to have had the Ligue 1 star watched this season and been impressed with his performances.

Manchester United have also been linked with a move for the 26-year-old, but this report suggest Arsenal will beat them to the punch.

Caughtoffside add that he could even be a possible replacement for Andrey Arshavin.