Manchester United manager Louis van Gaal has refused to rule out the possibility of signing goalkeeper Victor Valdes.
Manchester City boss Manuel Pellegrini says he is confident that England goalkeeper Joe Hart will sign a new contract.
Manchester United have confirmed David Moyes will succeed Sir Alex Ferguson as manager from July 1 on six-year contract.
After two days of intense speculation, the Scot comes from Everton with the support of the man who has just spent almost 27 years in the United hotseat and will remain on the United board to offer advice.
And just as outgoing chief executive David Gill claimed on Wednesday it was a "dream job", so Moyes, far from viewing it as the poisoned chalice some have claimed, feels it represents an opportunity he simply could not turn down.
"I know how hard it will be to follow the best manager ever, but the opportunity to manage Manchester United isn't something that comes around very often," said Moyes.
"I am really looking forward to taking up the post next season."
As it was obvious Moyes would get the job by lunchtime on Wednesday, there was no surprise in the actual announcement.
It certainly did not warrant the frenzy that preceded it, which even included two messages posted on United's official Facebook page that needed to be hastily taken down.
Whilst that social media faux-pas will be the cause of some embarrassment since United like to champion the fact they have 33million fans on the network, the official statement that came out approximately an hour later underlined why Moyes has been chosen in preference to the other front-runner, Jose Mourinho.
For, in giving the 50-year-old a six-year contract, twice as long as Mourinho has spent in any job, United have shown their desire to hire someone willing to immerse themselves in every facet of the club, just as Ferguson has done throughout his unparalleled tenure.
It is why Ferguson had no hesitation in recommending Moyes for the job.
"It is a great honour to be asked to be the next manager of Manchester United," said Moyes.
"I am delighted Sir Alex saw fit to recommend me for the job.
"I have great respect for everything he has done."
Out of contract in the summer, Moyes travelled to London on Wednesday and informed chairman Bill Kenwright of United's interest.
He told Kenwright he would not be extending his stay at Goodison Park beyond the end of this season given the magnitude of the job he had been offered, before heading to Stamford Bridge to watch Chelsea's draw with Tottenham.
As Chelsea will be the final opponents of Moyes' tenure at Everton, there was nothing out of the ordinary in that visit.
However, Moyes watched the encounter in the knowledge they were two of the teams it will be demanded by United supporters at least that he will overcome.
He was back at Everton's Finch Farm HQ this morning to tell his players of his decision, in much the same way Ferguson had done at Carrington 24 hours earlier.
Such is the esteem in which Moyes is held that, like Ferguson, he will see out the campaign with his present club, bidding a personal farewell at Goodison Park for the final time after Sunday's encounter with West Ham, an hour before his predecessor says goodbye to Old Trafford.
They both promise to be emotional affairs, although Moyes has vowed to remain professional until the end.
"I had a terrific job at Everton, with a tremendous chairman and board of directors and a great set of players," said Moyes.
"Everton's fantastic fans have played a big part in making my years at Goodison so enjoyable.
"I thank them wholeheartedly for the support they have given me and the players.
"Everton will be close to me for the rest of my life and between now and the end of the season, I will do everything in my power to make sure we finish as high as possible in the table."
Having decided to end his near 27-year stint at United this summer, Ferguson quickly came to the conclusion his fellow countryman would be the right man to follow him.
Ferguson said: "When we discussed the candidates that we felt had the right attributes we unanimously agreed on David Moyes.
"David is a man of great integrity with a strong work ethic. I've admired his work for a long time and approached him as far back as 1998 to discuss the position of assistant manager here.
"He was a young man then at the start of his career and has since gone on to do a magnificent job at Everton. There is no question he has all the qualities we expect of a manager at this club."
Sir Bobby Charlton added: "I have always said that we wanted the next manager to be a genuine Manchester United man.
"In David Moyes, we have someone who understands the things that make this such a special club.
"We have secured a man who is committed to the long-term and will build teams for the future as well as now. Stability breeds success.
"David has tremendous strength of character and recognises the importance of bringing young players through and developing them alongside world-class talent.
"At United, I think David will be able to express himself.
"I am delighted he has accepted and I'm looking forward to working with him.''
Moyes will get his first taste of what a global club United are in July, when he heads to Thailand, Australia, Japan and Hong Kong on their summer tour.
Before that he will sit down with new chief executive Ed Woodward to discuss future plans.
"The search for a new manager has been very short,'' said co-chairman Avie Glazer.
"Alex was very clear with his recommendation and we are delighted that David has agreed to accept the job.
"He comes to us with excellent credentials and a strong track record.
"I know he is keen to get started and Ed will be sitting down with him as soon as the season is over to discuss plans for the summer and beyond.''
Fellow co-chairman Joel Glazer added: "I am very pleased David has agreed to lead Manchester United into the future.
"His hard-working style and steely determination are characteristics we value.
"He has impressed as a coach for many years now and we strongly believe he will be able to take up from where Alex is leaving off by continuing this club's tradition of flair football played by exciting, world-class players.''
With long-serving chief executive Gill also leaving in the summer, it
means a massive change at Old Trafford.
But Woodward is confident the enormous success Ferguson has brought to United will continue.
"In David Moyes, we have secured the services of an outstanding manager who has all the skills to build on the phenomenal legacy in place today,'' he said.
"I have no doubt that he will bring an energy and commitment to deliver winning football that is part of the fabric of this club.
"In this respect, he is cut from the same cloth as the Old Trafford greats who go before him.
"I have been very impressed by David's personal and managerial traits, which reflect the Manchester United values.
"I have no doubt that he will embrace, and soon become an integral part of, United's unique culture and heritage.''
David Moyes factfile
1963: Born April 25 in Glasgow.
1980: Signs professional forms with Celtic.
1981: Plays against Juventus in the European Cup and represents Scotland Youth.
1982: Picks up a Scottish Premier League winner's medal.
1983: With chances limited at Parkhead, heads to England and Cambridge United.
1985: Moves to Bristol City.
1987: Signs for Shrewsbury.
1990: Moves back to Scotland with Dunfermline.
1993: After a brief spell at Hamilton, joins Preston in September.
1994: Captains North End in the Division Three play-off final defeat by Wycombe at Wembley.
1995: Preston finish fifth again in the Third Division, but lose to Bury in the semi-finals of the play-offs.
1996: North End are promoted after winning the Third Division title. Moyes takes an active role in coaching and is eventually appointed assistant to Gary Peters.
1998: January - surprise choice to take over manager's job when Peters switches roles to oversee the Centre of Excellence.
May - Preston finish 15th in Division Two.
1999: North End finish fifth and reach the semi-finals of the Nationwide Division Two play-offs, where they are beaten by Gillingham.
2000: Preston romp to the Second Division championship, racking up 95 points.
2001: The Lilywhites finish a surprise fourth in Nationwide Division One. Moyes takes Preston to within 90 minutes of the Premiership, but they lose out to Bolton in the play-off final.
August - North End are thrashed 5-0 at Gillingham on opening day of the new Nationwide League season.
2002: March 13 - Approached by Everton to replace sacked boss Walter Smith.
March 15 - Becomes new Everton manager. Moyes makes an instant impact as Everton win three of their first four matches under his leadership. They escape relegation, finishing seven points above third-bottom Ipswich.
December 5 - With Everton fifth in the Premiership after four successive 1-0 wins in November, Moyes is named Barclaycard manager of the month - the first Everton boss to land such an award for more than three years.
2003: January - Everton suffer surprise 2-1 loss to Third Division Shrewsbury in FA Cup third round.
May - Everton beaten on final day of season by Manchester United and Blackburn take final UEFA Cup place. Moyes named League Managers' Association manager of the year for the first time.
2004: The promise of Moyes' first full season in charge fades and the debt-ridden club spend the tail-end of the 2003-04 campaign battling against relegation.
May - Everton escape relegation but their 5-1 defeat to Manchester City on final day of season sees them finish 17th.
August - Everton bow to pressure and sell star striker Wayne Rooney to Manchester United in a deal worth up to £27million.
September - Everton make encouraging start to season and climb to third in Premiership with 1-0 win over Middlesbrough.
November 12 - With Everton still third after 12 games, Moyes agrees new five-year contract.
2005: May - Everton break the big-four cartel by finishing fourth in the Premier League, above city rivals Liverpool, to qualify for the Champions League. Moyes is named LMA manager of the year for the second time in three years.
August - Everton's Champions League ambitions end at the earliest opportunity as they are beaten in qualifying by Spain's Villarreal.
September - Things get worse for Moyes as Everton are hammered 5-1 by Dinamo Bucharest and crash out of the UEFA Cup as well.
October - Everton's league form mirrors their European disaster and they sit bottom of the league, resulting in calls for Moyes' head in some quarters.
2006: May - The Toffees stick with Moyes and recover to finish 11th.
2007: May: Steers Everton into the UEFA Cup with a sixth-place finish.
December 12: Everton beat eventual UEFA Cup winners Zenit St Petersburg 1-0 at Goodison Park in a UEFA Cup group stage match.
2008: March 12: The Blues lose on penalties to Fiorentina in the UEFA Cup last 16.
May: Everton finish fifth to qualify for the UEFA Cup again.
September 29: Admits FA charge of improper conduct in relation to an incident against Stoke on September 14.
October 2: Everton crash out of the UEFA Cup in the first round to Standard Liege.
October 14: Signs new five-year contract at Everton.
2009: April - Everton reach the final of the FA Cup with a semi-final victory over Manchester United, but eventually miss out on the trophy to Chelsea.
2012: Everton finish the 2011/12 season above arch-rivals Liverpool in the Premier League table for the first time in seven years.
2013: May 9: Everton announce Moyes will leave the club at the end of the season. United later confirm he will take over as manager on July 1 on a six-year contract.