Keep up with the latest news and rumors from the transfer market, with the summer window open for business across Europe.

By SI.com Staff
July 04, 2017

The summer transfer season has already kicked into high gear, with the window open in big-spending England and across Europe, as a number of clubs are making big-name signings, and shelling out plenty to do so. 

Manchester City has already recruited the likes of Bernardo Silva and Ederson (and Dani Alves may be on the way), while rival Manchester United has brought in Victor Lindelof while being linked to countless others. Lower down the EPL table, Everton has spent big for Jordan Pickford, Davy Klaassen, Michael Keane and Sandro Ramirez. In Germany, Bayern Munich broke the Bundesliga record for Corentin Tolisso, while chief competitor Dortmund has already announced four new signings, though one of its star forwards could be headed out.

Here is the latest from the transfer market as the rumors and signings become more fierce by the day:

• A day after being in London to complete his medical, Alexandre Lacazette has signed with Arsenal. The reported club-record move sees the 26-year-old French striker move from Lyon to England's capital city for a reported £45 million (and could rise to £52 million), breaking the £42 million spent to sign Mesut Ozil in 2013. Lacazette scored 37 goals in 45 games across all competitions a season ago and he will join the club for its tour to Australia this weekend. (ESPNFC | Arsenal)

Alexis Sanchez has reportedly elected to see out his contract with Arsenal and remain at the club for another season, though a last-gasp move to Manchester City could still be in the cards. (Express)

• Everton's big summer of spending appears set to continue with two massive signings: Wayne Rooney and Olivier Giroud. Rooney, who began his career with Everton, will reportedly be allowed to go on a free transfer, as Manchester United lets him out of the remainder of his contract, while Giroud may cost Everton just £20 million. (The Sun)

• Manchester City and Tottenham are battling over a transfer fee for fullback Kyle Walker, with Spurs reportedly demanding £50 million for the England international and holding up any potential sale as Man City attempts to negotiate down. (Independent)

• Pepe's lengthy run at Real Madrid is over, with the Portugal defender joining Turkish power Besiktas. (BBC)

• Manchester United is making a final push to sign Alvaro Morata from Real Madrid, which is said to be holding firm on its price tag of €90 million for the Spanish forward. The inability to land a top target is said to be frustrating Jose Mourinho. (Independent)

• In-demand goalkeeper Gianluigi Donnarumma has done an apparent 180 and pledged his future to AC Milan after all with a reported five-year deal that comes with an £88 million release clause (that clause is reportedly cut in half if AC Milan doesn't qualify for Champions League). The news will be upsetting to reported destinations Real Madrid and Manchester United. (The Sun)

Gareth Bale has been repeatedly linked to a move back to the Premier League after leaving Tottenham for Real Madrid, but he reportedly insists that he is happy in the Spanish capital and has no desire to leave the club. Fresh links had him headed to Manchester United, should Real be able to complete a deal for Monaco's Kylian Mbappe. (Sky Sports)

• Germany World Cup- and Confederations Cup-winning defender Matthias Ginter has left Borussia Dortmund for Borussia Monchengladbach, with first-team minutes not a certainty at Signal Iduna Park. The move cost a reported €17 million. (Sky Sports)

Vicente Iborra joins Leicester City from Sevilla, heading to the Premier League on a reported £12 million move. The midfielder won the Europa League three times with Sevilla and was the club's captain last season. (The Guardian)

Ever Banega has returned to Sevilla for a second stint, with the Argentine leaving Inter Milan after one season and re-signing in Spain on a three-year deal after a reported €9 million transfer. (Goal)

• Rising England star Tammy Abraham will head out from Chelsea on loan again, joining Swansea City. The year-long move comes on the same day Abraham, 19, signed a new five-year deal with Chelsea. (Tammy Abraham/Twitter)

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