Monday's transfer news: Arsenal bid rejected, Man Utd eye Fernandes, Liverpool ready to rival offer for Firpo

Welcome to The Independent's transfer live blog where we'll keep you in top of all the latest news, done deals and rumours across Europe and beyond throughout the summer window.

Manchester United, Liverpool and Arsenal all feature heavily in today's gossip columns, while Premier League champions Manchester City are ready to make an record-breaking move if reports are to be believed.

So without wasting any time, let's get underway.

We begin this morning with Manchester United. The club have been occupied so far this summer with their attempts to sign Crystal Palace defender Aaron Wan-Bissaka, but with that move looking close to secured, Ole Gunnar Solskjaer has turned his attentions elsewhere.

Portuguese outlet Record reports that the United manager has made a 'personal plea' to executive vice-chairman Ed Woodward to go all out in signing Sporting Lisbon midfielder Bruno Fernandes.

The 24-year-old Portugal international is on the radar of Europe's biggest clubs this summer and could leave Sporting if the club is offered the right price, and Solskjaer has urged United's transfer guru to ensure the club are at the front of the queue if and when that happens.

Another player United are keeping an eye on is Real Betis defender Junior Firpo, but they will face familiar competition for the left-back.

Spanish newspaper Marca reports that Liverpool are ready to rival United in the battle for Firpo, who is just 22 years old and looks to have a bright future ahead of him.

The Spain Under-21 international made 16 league appearances for Betis last season and made his international youth debut towards the start of the season, having successfully applied for duel-nationality after being born in the Dominican Republic.

Liverpool are on the lookout for a replacement left-back after allowing Alberto Moreno to leave on a free transfer, while United are determined to strengthen what has become an unstable defensive back line.

Arsenal are understood to be open to the prospect of letting Lucas Torreira leave the club, just one year after signing the Uruguay international from Sampdoria.

Torreira's strong start at the Emirates last season faded as it wore on, and his admission that he preferred life in Italy compared to London triggered interested from Serie A side AC Milan.

Now, Italian outlet Sport Mediaset reports that Arsenal have received an offer from Milan and are yet to make a decision on whether the 23-year-old will be allowed to leave the club this summer.

Manchester United are keen on kicking on with Ole Gunnar Solskjaer's planned revamp, but there is also a desire to tie down their brightest young talent that includes striker Marcus Rashford.

It may seem like Rashford has been around for donkey's years after seeing Louis van Gaal, then Jose Mourinho and now Solskjaer as his manager, but the England star remains just 21 years old and is out of contract next summer.

However, The Sun reports that United will trigger a one-year extension clause in his current contract that will extend that stay until 2021 at least.

One player who has been linked strongly with a Manchester United exit is striker Romelu Lukaku, but it appears his proposed move to Inter Milan may not be as simple as had been suggested.

The Belgian has been told that he is free to leave Old Trafford if an acceptable offer is received this summer, but Italian newspaper Gazzetta dello Sport reports that Inter are still £22.3m shy of United's valuation, meaning an agreement is almost certainly going to be impossible unless the Serie A side drastically up their offer.

It looks like Lukaku mat be staying at United after all.

Manchester City are ready to make Harry Maguire the most expensive defender in the world.

The Mirror claims that City have beaten rivals Manchester United to the signing of the England defender, and will agree a deal THIS WEEK for £80m.

The fee is £5m more than what Liverpool paid Southampton for Virgil van Dijk two seasons' ago, and would make him the most expensive defender on the planet as he is tasked with replacing Vincent Kompany.

One reason why Inter Milan cannot afford Romelu Lukaku may be that they have lodged a whopping £80m offer for sought-after target Nicolas Pepe.

Liverpool are keen on signing the Lille winger, who is also attracting attention from Manchester United, but French newspaper L'Equipe reports that Inter have marched ahead of their rivals with a big-money offer.

The Ligue 1 club have already admitted that they expect to lose Pepe this summer, such is the interest in his services, and Liverpool may now be forced into a move or risk losing out on his signature.

United's first signing of the summer may not be who everyone expects it to be.

The deal for Wan-Bissaka is close to complete, but The Sun reports that United are on the verge of announcing a move for Mateo Mejia, a 16-year-old winger from Spanish club Real Zaragoza.

United are believed to be paying around £600,000 for the prospect, though that fee will increase dependent on how successful his time is at Old Trafford, and a deal could be announced in the coming days.

One factor in Lucas Torreira's Arsenal future could be where the club can re-invest the money.

The Daily Mail reports that the extra funds that would be made available by Torreira's potential departure has swayed manager Unai Emery into pleading for a move for Wilfried Zaha, Crystal Palace's other prized asset that is being linked with a move this summer.

Palace are reportedly holding out for in excess of £55m that is currently out of Arsenal's limited budget after their Champions League failure, and any possible move will depend on outgoings at the Emirates.