Here's the top transfer-related stories in Thursday's newspapers...
Liverpool are preparing to offload Mario Balotelli to finance a move for Manchester United outcast Radamel Falcao. The Reds are willing to take a significant loss on their £16m signing to make room for the Colombian international. (Daily Star)
Manchester United are preparing to make a bid for Mats Hummels, the Borussia Dortmund captain, while they also hope to wrap up deals for Memphis Depay, the PSV Eindhoven and Holland forward, and Nathaniel Clyne, the Southampton and England right back. The trio will cost a combined £70million. (The Times)
Chelsea are considering turning to Diego Godin in their search for a new central defender. Raphael Varane is Jose Mourinho’s top target but Real Madrid are determined to keep him, and commanding Atletico Madrid stopper Godin, who is also on Manchester United’s radar, has emerged as an alternative for the Blues. (Daily Mirror)
Chelsea boss Jose Mourinho is also ready to reignite his interest in West Ham forward Enner Valencia, while Oscar is set to be axed this summer, with Juventus keen on the playmaker. (Daily Mirror)
Arsenal may have to offer James Milner a four-year contract if they are to sign the England midfielder as a free agent from Manchester City. (London Evening Standard)
West Ham are weighing up a summer move for Swansea boss Garry Monk. The Hammers have yet to start talks with current manager Sam Allardyce about a new contract and Monk is on their radar. (Daily Star)
Southampton manager Ronald Koeman is keeping checks on QPR midfielder Matt Phillips. (Daily Mirror)
