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Manchester United and Arsenal set to battle it out for Real Madrid superstar and other transfer news and rumours of the day - 24th July 2017

Deportivo de La Coruna v Real Madrid CF - La Liga
Manchester United and Arsenal set to battle it out for Marco Asensio

Hello and welcome to Sportskeeda's latest transfer news and rumours roundup. Today's stories feature the latest update on some of the major happenings in world football which may change the complexion of a few clubs.

So let's head right in and take a look at the major happenings across Europe that made headlines on July 24, 2017:

Premier League 

Arsenal and Manchester United to battle it out for Marco Asensio

The Premier League giants are impressed with the progress made by Asensio at Real Madrid and are ready to break the bank for him, Don Balon understands. Asensio is a target for many top clubs this summer but Real Madrid have made it clear that the player features in their long term plan.

Meanwhile, Asensio wants to be rewarded with a big new contract for his performances and is longing for a major role in the team under Zinedine Zidane. 

Chelsea step up their interest in Alex Oxlade Chamberlain

After refusing to sign a new deal with the Gunners, Chamberlain is garnering interest from Chelsea. Daily Express has claimed that Chelsea are in the race for the versatile midfielder and are expected to put in a formal bid in the next 48 hours.

The Blues will offer him a higher wage structure than at Arsenal and hope that the attraction of Champions League football might tempt him to join the champions. 

Swansea City approach Manchester City for Wilfried Bony 

Wales Online has reported that the Swans have already agreed on terms with Manchester City to re-sign Wilfried Bony. Fernando Llorente will be leaving Swansea this summer with Paul Clement identifying Bony as a perfect replacement.

But Swansea are concerned about the Ivorian's wages with the striker demanding a weekly wage of £130,000. 

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