The transfer window that operates during the close season of the European football calendar is a period of fervent business in the buying and selling of some of the world’s most talented players. Goalmouth will keep you up-to-date with the latest spin from the transfer markets until deadline day of August 31.

Heard any rumors? Let us know by adding a comment at the bottom of the page or check out CNN’s guide to the 20 most wanted football players:

Yesterday Manchester United was across the pond in the southern hemisphere looking at their potential Ronaldo replacement, but today their heading deep into enemy territory. United boss Alex Ferguson is turning his sights towards Spain. British paper The Daily Star is claiming the Red Devils want to add $63 million striker Sergio Aguero to their line-up after giving up on their power struggle to take David Villa from Real Madrid’s clutches.

Could Aguero become a Red Devil?

But it seems that big spenders Real Madrid do not want Villa anymore. After attempts to secure the Valencia striker were struck down, Los Blancos are now diving head first into the Lyon pool. Reports are flying out of The Daily Mail that Karim Benzema is next on their hit list, but it sounds like they are trying to sneak in under the noses of rivals Manchester United who are also vying for the French international's signature.

We head on down to London town next, where Arsenal has offered Emmanuel Adebayor to AC Milan and Inter, or so The Mirror says. It seems the Gunners would rather see Adebayor shipped off to the Italian north than wear the Chelsea colors.

But hold on. Let's back the transfer train up. Britain’s top rumor spreading press, The Sun, are saying Adebayor’s agent have not received, nor heard any offers from Chelsea. The representative said “As of today, I have not even got evidence to speak of presumed interest from Chelsea…it's a given fact that Carlo Ancelotti likes the player seeing that last year he tried to sign him for Milan, although Chelsea have not contacted us.”

Despite having never contacted Arsenal, Chelsea has apparently been scouting in Russian territory, specifically with Yuri Zhirkov in their sights. Word out of the London Evening Standard says that the CSKA Moscow left back is expected to complete a $30 million deal by the end of next week and has been told he will make a regular appearance on the pitch.

It has been a busy day for transfer news, who knows what tomorrow will bring.