Neither Manchester United or Chelsea will play in the Champions League this season after disappointing Premier League campaigns last time out.
However, it appears both clubs are eager to close the gap on those who finished ahead of them last season by making waves in the transfer market.
Both have been linked with deals today, while Liverpool, Leicester City and Manchester City are among the others to feature in today's headlines.
Man United have improved their offer for Borussia Dortmund forward Henrikh Mkhitaryan to £28million. (Daily Mirror)
Chelsea have made a £19.2million bid for Napoli defender Kalidou Koulibaly. (Daily Mirror)
Liverpool have seen a £7million offer for Leicester left-back Ben Chilwell turned down by the Premier League champions. (Daily Telegraph)
Leicester are set to sign Nice midfielder Nampalys Mendy for £13million. (The Times)
Man City are hoping to complete the £40million signing of Schalke winger Leroy Sane today - but Bayern Munich could provide late competition. (The Sun)
Chelsea, Tottenham Hotspur and Arsenal will get the chance to bid for striker Alvaro Morata when Real Madrid re-sign him from Juventus, with the Spanish club keen to sell him on for profit. (The Times)
Zlatan Ibrahimovic has already agreed to join Man United this summer. (talkSPORT)
Celta Vigo striker Nolito has agreed a three-year deal with Man City. (TV3)
Romelu Lukaku's agent says the striker could yet stay at Everton. (Sportwereld)
Newcastle United winger Andros Townsend is not a target for Liverpool, with Southampton's Sadio Mane being lined up instead. (Liverpool Echo)
Watford have told Leicester that their captain Troy Deeney is not for sale. (Daily Mail)
Swansea City have made a £2million bid for Ajax defender Mike van der Hoorn. (De Telegraaf)
Leicester are being linked with a move for Juventus striker Simone Zaza. (Leicester Mercury)
Zaza is also being targeted by Swansea. (Sky Italia)
Willian is set to sign a new contract with Chelsea, despite interest from Man United. (The Sun)
New Everton owner Farhad Moshiri wants a marquee signing this summer, and is willing to break the club's wage structure to do so. (Liverpool Echo)
Zenit St Petersburg central defender Ezequiel Garay is a target for Man United and Inter Milan. (Tuttosport)
AFC Wimbledon's 18-year-old goalkeeper Will Mannion is set to become Hull City's first summer signing. (Hull Daily Mail)
Blackburn Rovers are in talks over the free signing of former Man United midfielder Nick Powell. (Daily Mail)
Chelsea defender Andreas Christensen could become Borussia Monchengladbach's record signing, with the German club ready to spend £11.5million to make his two-year loan permanent. (London Evening Standard)
Roma and Man City have entered talks over the transfer of right-back Pablo Zabaleta. (Gazzetta dello Sport)
Zabaleta could be reunited with former City boss Roberto Mancini at Inter Milan. (Telelombardia)
Middlesbrough officials have dismissed claims striker Jordan Rhodes is for sale, despite joining as recently as January for £9million. (Teesside Evening Gazette)
Meanwhile, it is relatively quiet on the transfer front at Sunderland.