Transfer deadline day: Alvarez to Arsenal? Who else could be on the move?

The summer transfer window is set to close in England, Spain, and Italy on Tuesday, leaving clubs with only a few hours to finalize their deals. Among the high-profile players under consideration are Julian Alvarez and Enzo Fernandez. While Barcelona was initially Alvarez's desired destination, Atletico Madrid's reluctance to sell has led Arsenal to emerge as the frontrunner in the race to sign the 26-year-old Argentine forward.

Arsenal's desire for a frontline striker who can consistently deliver 20-plus goals per season has piqued Alvarez's interest, despite the significant €150 million price tag attached to the deal. Meanwhile, Chelsea is in negotiations with Manchester City to secure midfield maestro Enzo Fernandez, with the Argentine midfielder rumored to be priced at £120 million.

City's interest in the 25-year-old, who has openly expressed his desire for a move, has been driven by the club's need to bolster their already impressive midfield, which now includes multi-million-pound signings such as Elliot Anderson. Liverpool, on the other hand, are willing to let midfielder Cody Gakpo leave Anfield, with Tottenham Hotspur also expressing interest in signing the 27-year-old.

Gakpo's versatility and recent goal-scoring exploits have made him an attractive target for the North London club, who are willing to pay around £85 million for his services. Lastly, Manchester City's star striker Jack Grealish could be set for a return to Everton on another season-long loan, following his successful stint in Merseyside last season.

The England international, 30, has been linked with a move back to his former club, with Everton's manager David Moyes keen to bring in a striker to complement the team.