Transfer news LIVE: Man Utd transfer plans revealed, Zaha will cost Arsenal £100m, Spurs offer Eriksen

Welcome to The Independent's transfer live blog, where we'll bring you the latest news, rumours and done deals throughout the summer window.

There's no doubting that the transfer market is hotting up, with Manchester United ready to pounce on more than one target and both Arsenal and Liverpool nearing moves as they look to strengthen. Manchester City could be on the verge of signing England defender Harry Maguire for £80m that would smash the world record transfer fee for a defender, while Neymar continues to look for a way out of PSG.

Without further ado, let's get underway.

We start this morning with Arsenal's attempts to sign Wilfried Zaha from Crystal Palace.

The Gunners are known to be looking at ways they can fund a move for the Ivory Coast forward, but their plans have been hit by Palace's latest valuation of Zaha that prices him at £100m, almost certainly ruling out the prospect of Arsenal launching a summer move for the 26-year-old.

According to the Daily Mail, Palace chairman Steve Parish is reluctant to let Zaha leave the club and will force Arsenal to up their offer considerably or pull out of talks, even though Zaha has told the club he would like to leave for the north London side.

Ed Woodward, the Manchester United executive vice-chairman, has emailed all staff at the club to reveal what their new approach will be in the transfer market.

Fresh from the £50m signing of Aaron Wan-Bissaka, United are looking to sign "more exciting" players who fit the "long-term vision" of the club, according to The Telegraph.

It adds that United fans should expect more arrivals before the 8 August deadline, and that these players will fit the "philosophy" of the club that Ole Gunnar Solskjaer is trying to introduce.

Marcus Rashford is set to sign a new contract at Manchester United that will see him  paid a huge £250,000 a week.

The Telegraph claims that the England international will receive a huge pay rise on his current £80,000-a-week salary, with performance incentives increasing that number to nearly £300,000 if he reaches his goals set by the club.

Rashford has caught the eye of clubs across Europe including Barcelona, meaning United have been forced to shell out more than initially thought to secure his long-term future.

But the club are ready to announce the agreement, which will see the 21-year-old commit his future to United until 2023 with the option of an additional year.

Real Madrid have reportedly been told that it will cost them a whopping £150m to sign Paul Pogba this summer.

The Mirror claims that Manchester United's executive vice-chairman Ed Woodward is so determined to not let Pogba go just yet that he will hold out for £150m for the Frenchman, which could scare Madrid off for another year.

To make matters worse, United have told Madrid officials that the fee must be paid in its entirety up front, with the club unwilling to budge on negotiations.

Liverpool are ready to rival Manchester United and Arsenal in the battle to sign Jacob Bruun Larsen.

The Borussia Dortmund youngster has caught the eye of a number of clubs after making 30 appearances for the German side last season despite his young age.

The Daily Mail reports that the three English giants are all keeping an eye on the 20-year-old, though Dortmund are keen to hang on to the forward.

Tottenham are starting to prepare for the prospect of Christian Eriksen running down his contract and leaving on a free transfer.

Spanish newspaper Marca reports that Spurs chairman Daniel Levy has already been in touch with Real Madrid over their interest in the Dane, who is refusing to extend his contract the expires next summer.

As a result, the central midfielder is expected to leave Spurs this summer to follow Luka Modric and Gareth Bale in swapping north London for Madrid.

The future of Kylian Mbappe appears to be becoming clearer by the day, and it doesn't seem to be at Paris Saint-Germain - at least for the long-term.

Spanish newspaper Marca is reporting that Mbappe has made it clear to PSG that he will not sign a new contract, meaning that PSG must sell him before the summer of 2022 or allow him to leave on a free transfer.

Real Madrid are leading the race for Mbappe and have already made their interest in him known, but having already shelled out considerably this summer after signing Eden Hazard, they are not in a position to sign the Frenchman this year.

But Madrid are keen on him next summer and have already made Mbappe their priority signing for 2020, meaning PSG can either sell him for big money in 12 months' time for a fee that will be in excess of the €180m they committed to buying him from Monaco in 2017, or hold on until 2021 and sell him for a reduced fee.

Manchester United are looking to make two more signings this summer on top of their completed deals for Daniel James and Aaron Wan-Bissaka.

United's interest in Sporting midfielder Bruno Fernandes has been longstanding, and the 24-year-old is looking certain to leave Lisbon this summer.

According to the Evening Standard, United believe they are the frontrunners in securing Fernandes' signature, and hope to reach a breakthrough in talks in the coming days.

United's fourth and final target of the summer is current Newcastle midfielder Sean Longstaff, who only broke into the Magpies squad last season.

The 21-year-old is wanted by Ole Gunnar Solskjaer as someone who fits the bill for his preference for emerging talent, and the Standard also reports that United are in pole position to sign him this summer.