There are conflicting reports about the future of Arsenal target Sami Khedira. While Spanish publication Marca said on Wednesday that a transfer fee of around €25 million (£20m) had all but been agreed with Real Madrid and the only stumbling point was now personal terms, the German World Cup winner’s agent has denied hearing anything from either party.

Khedira has been strongly linked to Arsenal over recent weeks, with recent suggestions that his £150,000 a week wage demands were proving problematic. However, Jorg Neubauer has dismissed such claims.

“We are not in talks with Arsenal,” he told the Daily Telegraph. “I don’t think a fee can have been agreed, otherwise I would have been told.

“When a club have an interest I am sure they will call me and we will speak about things. The same goes for Chelsea.”

The Daily Mirror has reported that Chelsea are now trying to hijack any deal, with Jose Mourinho keen for a reunion with a player he managed for three years at the Bernabeu. Khedira’s future will likely be decided one way or the other in the near future with the 27-year-old’s contract set to expire in just a year’s time.

“We are talking to Real Madrid about his contract, but nothing is close to being decided,” added Neubauer. “Sami has just returned from the World Cup and has gone on holiday.”

With Real Madrid having completed a deal on Thursday for fellow Germany midfielder Toni Kroos and a much-discussed move for James Rodriguez on the cards, there is sure to be some movement out of the Bernabeu.

If Arsenal were to miss out on Khedira then they would likely reignite their interest in long-standing target Lars Bender.

A deal that looks more straightforward to complete is for Newcastle United’s Mathieu Debuchy. Several sources claim a £10 million deal is now done and could be confirmed as early as Thursday. The right-back will replace the man he kept out of the France side at this summer’s World Cup, Bacary Sagna.

It could be a busy few days for manager Arsene Wenger, who has now returned from his media duties at the World Cup. The Daily Mirror is among the publications reporting that Arsenal are also closing in on a deal for Nice goalkeeper David Ospina. The 25-year-old impressed in helping his country reach the quarterfinals in Brazil and is being sought to provide competition for Wojciech Szczesny. Former backup Lukasz Fabianski left at the end of his contract this summer, while Emiliano Viviano’s season-long loan ended without the Italian having played a single competitive match. Ospina is thought set to cost £3 million.

Talk of Arsenal’s interest in Mario Balotelli resurfaced this week when the Italy striker posed for a picture with the Arsenal crest in the background while on holiday in New York. Although the former Manchester  City man was heavily linked with an exit from Milan and move to the Emirates earlier in the summer, this latest development is unlikely to have any significance whatsoever.

Balotelli’s club Milan have said that he will take part in their pre-season tour, while Arsenal’s signing of Alexis Sanchez means there is little prospect of procuring another big-name forward.