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:

A few days ago it was reported that Manchester United were looking to acquire whiz kid Douglas Costa from Gremio, but today The Guardian is claiming that the Brazilian’s club will not allow the “new Ronaldinho” to go on trial at Old Trafford. The club was looking to see Costa in action before making a $29 million bid, but Gremio’s president has said “that this will not happen.” Looks like the money United received from the Ronaldo sale will continue to burn a hole in Alex Ferguson’s pocket.

Will Gremio let United near their golden gem?

And the fun continues in Britain as the battle between the Red Devils and Los Blancos intensifies. According to The Daily Mail ,Wigan Athletic winger Antonio Valencia will finally decide if he would rather stick out the England weather or move to a warmer climate. Speaking to The Mail, Wigan chairman Dave Whelan said “one club could offer $3 million more than the other but if Antonio says he doesn't want to go there then there is no point. We can't tell him where he wants to go.” No matter what happens someone may go home crying.

Meanwhile, the appeal for Arsenal's Cesc Fabregas continues after the Spaniard made some interesting comments about his club to The Sun. The rumor spreading tabloid are saying Fabregas, who has a price tag of around $73 million, is still being chased by Spanish rivals Barcelona and Real Madrid.

Hopping on the train to the Rhone-Alpes in France, next up is Lyon who told L’Equipe that no negotiations about Karim Benzema had occurred between the Ligue 1 side and Spanish giants Real Madrid. Despite reports to contrary, the club have said “Benzema and Olympique Lyon have confirmed their initial desire that the player wanted to stay one more year in Lyon.” Looks like Madrid are going to have to fish in different water yet again.

To the Italian peninsula now, where it looks like AC Milan might get their main transfer target after all, despite Wolfsburg’s persistence not to sell Edin Dzeko. According to the pink paper Gazzetta dello Sport, Dzeko would love to play for the northern club, but it seems the German giants are shopping around for a replacement. Whatever happens, one thing is for sure, by the weekend football fanatics will know if the Bosnian is going to wear the red and black stripes next season.

The rumor day ends where it started, back in England, and with Roque Santa Cruz packed and well on his way to Manchester, Blackburn boss Sam Allardyce needs to find that special someone to fill the hole. The bullseye he is looking to hit goes by the name of Peter Crouch, claims English paper The Daily Star. Maybe Allardyce can finally nab the England international after failing on past occasions.