Chelsea have secured the services of Colombian winger Juan Cuadrado, according to Fiorentina coach Vincenzo Montella.
Norwich have sacked Chris Hughton and his backroom staff after back-to-back defeats left them in a relegation dogfight in the Barclays Premier League.
Saturday's 1-0 home loss to fellow strugglers West Brom proved the final straw for the Norwich board, with a daunting run-in meaning their current five-point cushion over the bottom three offers little comfort.
Norwich announced their under-18s coach Neil Adams, who guided the young Canaries to FA Youth Cup glory last year, has been named first-team manager.
The club said in a statement on their website: "Norwich City can confirm Chris Hughton, Colin Calderwood and Paul Trollope have parted company with the club with immediate effect - and former Canary winger and FA Youth Cup-winning coach Neil Adams has been appointed as first team manager."
Norwich travel to fellow strugglers Fulham on Saturday for a potentially decisive game, before ending the campaign with matches against Liverpool, Manchester United, Chelsea and Arsenal.
Norwich added in their statement: "Chris's achievement in guiding City to an 11th-place finish in the Premier League last season was an excellent one and he has represented the club with dignity throughout his tenure.
"However the recent run of four defeats in our last six Premier League games and six consecutive away league defeats, left the club with no choice but to act, with five games still to play in the current campaign."
The 48-year-old Adams will now be entrusted with the task of keeping Norwich in the Premier League.
A title winner with Everton in 1987, he spent six years as a player at Carrow Road and joined the Norwich coaching staff after finishing his playing career at Oldham.
Adams said: "To say that I am delighted to have been offered the opportunity of managing Norwich City Football Club would be a massive understatement.
"People know what this club means to me, and so it goes without saying that we will be doing everything possible to ensure that we maintain our top-flight status for next season.
"These final five games will be a huge test for us, and everyone must step up to the mark. But with the full backing of these magnificent Norwich supporters we will have every chance of achieving our objective."
Norwich have hovered around the lower reaches of the table all season, thanks in large part to a consistent struggle for goals - their tally of 26 in 33 games is second lowest only to Crystal Palace who have at least shown more resilience in defence since the appointment of Tony Pulis.
Last summer, Hughton spent a reported £8.5million to sign Ricky van Wolfswinkel from Sporting Lisbon and £5million to bring Gary Hooper from Celtic, while also adding Johan Elmander on loan, but none of the moves have paid off .
Hooper has just five goals in 28 league appearances, a poor return which is nevertheless significantly better than the one each that Van Wolfswinkel and Elmander have managed in 22 and 26 appearances respectively.
Chris Hughton factfile
1958: Born Stratford, December 11.
1976: Makes Tottenham debut as a left-back, aged 18.
1979: Makes debut for Republic of Ireland.
1981: Wins the FA Cup and the Charity Shield.
1982: Wins the FA Cup for a second time.
1984: Lifts the UEFA Cup with Tottenham.
1988: Plays all three of Ireland's games at Euro '88.
1990: Joins West Ham after making over 300 appearances for Tottenham.
1993: Spends the last season of his playing career with Brentford before retiring and joining the coaching staff at Tottenham.
1998: Placed in caretaker charge of Tottenham until George Graham replaces Christian Gross.
2003: February - Joins the Republic of Ireland coaching staff.
2005: October - Leaves his role with the national side.
2007: October - Dismissed from his role at Tottenham.
2008: February - Appointed first-team coach at Newcastle by director of football Dennis Wise.
September - Named caretaker manager of Newcastle following departure of Kevin Keegan, before becoming assistant to new manager Joe Kinnear.
2009: February - Takes caretaker job again after Kinnear is taken ill, before assisting Alan Shearer until the end of the season as Newcastle are relegated from the Barclays Premier League.
July - Placed in caretaker charge again, with owner Mike Ashley announcing he is selling the club.
October - After a flying start to the season, including two manager-of-the-month awards, Hughton is named as Newcastle's permanent manager.
2010: April - Secures promotion back to the Premier League, the title confirmed with a win at Plymouth.
October: Guides Newcastle to a memorable 5-1 win over bitter rivals Sunderland, four days after the club announce his job is safe and his contract will be reviewed in the new year, following speculation he was about to be sacked.
December 6 - Newcastle confirm they have parted company with Hughton, with the club 11th in the Premier League.
2011: June - Appointed manager of npower Championship side and Carling Cup holders Birmingham, replacing Alex McLeish.
August - Leads the Blues into the group stages of the Europa League after a 3-0 aggregate win over Portuguese side Nacional.
2012: May - Birmingham finish fourth and make it to the Championship play-offs in his first season in charge. They eventually lose 3-2 to Blackpool in the two-legged play-off semi-final.
June 7: Appointed new Norwich manager on a three-year deal after previous boss Paul Lambert left for Aston Villa.
July 3: After making a new contract for captain Grant Holt a priority, Hughton sees his striker sign a new three-year deal at Carrow Road.
2013: January 26 - Beaten by non-league Luton in the third round of the FA Cup.
March 23 - Agreed deal for Sporting Lisbon striker Ricky van Wolfswinkel to join in the summer for a club-record fee.
May 19 - Steers Norwich to an 11th-place finish in the Barclays Premier League after a final-day victory at Manchester City.
October 4 - Expressed his "sadness and disappointment" after becoming the target of racial abuse in an online group following Norwich's 1-0 win at Stoke.
November 2 - Oversees his Norwich team's 7-0 hammering by Manchester City at the Etihad Stadium.
2014: January 14 - Norwich are knocked out of the third round of the FA Cup as Fulham win 3-0.
April 5 - A 1-0 home defeat to West Brom leaves Norwich fourth from bottom in the Premier League table - five points clear of the relegation zone - with five games remaining.
April 6 - Hughton is sacked by Norwich and replaced as manager by academy coach Neil Adams.