Real Madrid have announced an agreement to sign highly-rated teenage defender Jesus Vallejo from Real Zaragoza.
Aston Villa have continued their spending spree after securing the services of Rudy Gestede from Blackburn on a five-year contract.
QPR forward Hogan Ephraim appears to be in line for a reunion with former team-mate Ryan Nelsen with a loan move to Major League Soccer outfit Toronto FC on the cards.
Nelsen left Loftus Road in January to take over as coach of Toronto and the club's president, Kevin Payne, has listed Ephraim as one of several players he is looking to sign ahead of the 2013 MLS season.
"We're in hopefully the final stages of signing him to a loan agreement with Queens Park Rangers," Payne told the league's official website.
"We hope that will be concluded in the next day or two."
Tottenham midfielder John Bostock and Cardiff forward Robert Earnshaw are also rumoured to be close to moving to the Canadian franchise with Payne confirming the deals are all likely to be temporary.
"All of these players would initially be on loan because we want to be able to have an opportunity to see them in our league before we make long-term commitments," he added.