Tuesday's transfer news: Man Utd renew Sancho move, Arsenal told Tierney fee, Neymar agrees Barcelona return

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.

Arsenal could look to send a statement to their north London rivals after entering the race for St Etienne youngster William Saliba.

Spurs have been linked with the defender throughout the year and were known to be keeping an eye on the Frenchman, but L'Equipe reports that Arsenal is the 18-year-old's preferred destination and that personal terms were agreed between the two parties last week.

The same French newspaper now claims that Arsenal are ready to open talks by making an offer to St Etienne, though it is likely to be considerably under the €30m asking fee for Saliba (below, left)

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'Equipereports 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 second 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.

Barcelona have reportedly met Antoine Griezmann’s £107m release clause.

The French World Cup-winner announced in May that he would leave Atletico, however, Barcelona denied that any agreement had been reached. 

Some speculated that Barca had become reluctant to meet the player's release clause and were concerned by his temperament, however, it now appears the transfer will be announced within the coming days.

Manchester United have rejected a swap-deal with Inter Milan with Mauro Icardi joining Ole Gunnar Solskjaer's side in place of Romelu Lukaku.

Inter are desperate to offload the enigmatic striker to free up the funds to sign Lukaku, however, Icardi is seen as a high-risk investment for top clubs. 

Barcelona back-up keeper and Dutch international Jasper Cillessen is set to join Valencia.

According to Marca, the goalkeeper underwent a medical with Marcelino's side on Tuesday morning. Valencia's first-choice keeper, Neto, is set to move in the other direction and take Cillessen's place as back-up.