Transfer news live updates: Kylian Mbappe put Real Madrid and Manchester United on alert, Neymar unveil by PSG

PSG have announced the signing of Neymar from Barcelona in a world record £200m deal, with the Brazilian signing a five-year contract on more than £500,000-a-week after tax to become the world’s most expensive and highest paid player.

Real Madrid’s interest in superstar teenager Kylian Mbappe is maintaining Manchester United’s belief that they can still sign Gareth Bale this summer, with the club’s long-standing desire to bring him to Old Trafford receiving a boost this week.

With Mbappe telling Monaco that he wants to leave the club, Real are growing increasingly confident that they can fend off competition to sign the 18-year-old striker this summer.

That could result in Bale heading for the exit in order to free up funds as well as move to a club where he would be guaranteed regular first-team football, something that may not be the case if Mbappe arrives at the Bernabeu before the end of the transfer window.

Chelsea striker Diego Costa will hand in a formal transfer request after it was revealed there is no way back for him with the Premier League champions, and that he will only move to former club Atletico Madrid.

Newcastle are ready to ramp up their summer business with a move for Arsenal striker Lucas Perez, while Tottenham are still chasing their first signing of the window with interest in Genoa forward Giovanni Simeone, the son of Atletico manager Diego, increasing by the day.

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