TRANSFER ZONE - 29th August 2014

• Monaco striker Radamel Falcao is set to join Real Madrid on a season-long loan deal worth £20 million. The Spanish giants are unable to buy the Colombian forward outright due to the Financial Fair play rules.

• Arsenal have tabled a £12 million bid for Borussia Dortmund defender Sokratis Papastathopoulos. The Emirates Stadium have been in the market for a central defender to replace departed Belgium defender, Thomas Vermaelen.

• Liverpool Boss Brendan Rodgers has revealed that the club are through with their summer transfer activities and also denied reports linking the club with a move for Barcelona and Cameroon midfielder, Alex Song.

• Chelsea have lined up Roma striker Mattia Destro as a possible replacement if Fernando Torres completes a move to AC Milan. The Spanish forward is in talks with the Rossoneri over a switch to San Siro.

• Bayern Munich are set to complete the £7.5 million signing of Real Madrid midfielder Xabi Alonso. The former Liverpool star is in Munich undergoing a medical. The German champions have also agreed a transfer fee with Roma for Moroccan defender Mehdi Benatia, who is expected to sign a five-year deal at Allianz Arena.

• Juventus and Valencia are battling for the signature of Manchester United striker Javier Hernandez.

• Arsenal are closing in on PSG midfielder Adrien Rabiot.

• Tottenham have also joined the race for the signature of another Manchester United striker Danny Welbeck.

• Crystal Palace have re-signed Manchester United winger Wilfried Zaha on a season-long loan deal.