TRANSFER ZONE - 5th July 2013

• Arsenal have agreed a club record fee of £23 million with Real Madrid for Argentine striker Gonzalo Higuain, expected to undergo a medical today ahead of a three-year deal.

• French Champions PSG have lodged an improved £50 million bid for Napoli striker Edinson Cavani.

• West Bromwich Albion have completed the signing of former Chelsea striker Nicolas Anelka on a one-year deal.

• Tottenham are lining up a move for £20 million-rated Roma midfielder Miralem Pjanic.

• Chelsea have agreed a £9 million deal with Vitesse Arnhem for Dutch midfielder Marco van Ginkel.

• Cardiff City have pulled out of the £10 million move for Celtic midfielder Victor Wanyama.

• Russian club Anzhi Makhachkala is lining up a move for Chelsea striker Demba Ba.

• Everton and Tottenham are locked in the race for the signature of Barcelona starlet Gerard Deulofeu.

• Southampton have joined Tottenham in the race for Brazilian forward Leandro Damiao.

• Manchester City are stepping up their interest in Real Madrid defender Pepe.

• Newcastle United are set to hijack Everton's £5 million move for Wigan forward Arouna Kone.