Here are the pick of the transfer rumours of the day from Arsenal, Chelsea and Manchester United.

Arsenal

Arsenal are bound to receive a second offer from Barcelona for Cesc Fabregas, as the Catalans prepare a bid around the region of £35 million, including £5 million as add-ons.

The bid still falls short of Arsenal's valuation of £40 million, and despite manager Arsene Wenger growing frustrated with the drawn-out nature of the saga, he is unlikely to sanction the sale.The Daily Telegraph reports that Fabregas is prepared to bear a part of the fee and has agreed to accept around £5 million less in his salary over the duration of the contract. It could temp Barcelona to raise their bid.

Elsewhere, Arsenal target Juan Mata's father, who is also his agent, has revealed that Valencia have rejected a bid from Arsenal for the Spaniard. He went on to state that there was a possibility that the player could move to Inter Milan.

The Daily Telegraph has also reported that Arsenal are close to signing Real Madrid's 16-year-old midfielder Jose Rodriguez Martinez. Arsenal scout, Francisco Cagigao, is understood to be impressed with the player's performance in the Under-17 World Club Championship in Madrid.

Arsenal are now looking at Birmingham's Scot Dann, according to the Mirror, and could offer a fee around the region of £10 million. Wenger is believed to be frustrated with Jagielka's asking price and considers Bolton's Gary Cahill too expensive. However, Dann is also a target for fellow-London clubs Chelsea and Tottenham.

The report goes on to say that Arsenal have reopened talks with Deportivo Saprissa on Costa Rican teenager Joel Campbell for a fee believed to be around £930,000.

Chelsea

 

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Andre Villas-Boas could move for Pato.

Reports have emerged of a possible Chelsea bid for AC Milan's Brazilian star Alexandre Pato in a player-plus-cash deal.

The Daily Mirror has reported that Chelsea manager Andre Villas-Boas will attempt to persuade owner Roman Abramovich to sanction £30 million, which is inclusive of a player-plus-cash deal, to lure the 21-year-old to London. Chelsea are expected to offer £30 million plus Nicholas Anelka to secure his services.

Manchester United

Manchester United have, reportedly, made a formal offer for Wesley Sneijder and the Dutchman has one week to decide whether he wants to take a massive pay-cut and move to Old Trafford.

A report in the Daily Mirror suggests that a deal could be agreed over the weekend, after Inter Milan held talks with United and only the finer terms are yet to be finalized.

Elsewhere, reports on Tuesday suggested that Dimitar Berbatov could be the subject of a bid from French newly-rich side Paris Saint Germain. The figure being reported was around £ 18 million, which is a huge sum for a player who is in the final year of his contract at Old Trafford.

It has now emerged that Ferguson would be willing to sell Berbatov. A report in The Guardian quotes United manager Sir Alex Ferguson as saying, "Yes, Absolutely. No problem," to a question querying whether Berbatov could play with Paris Saint Germain, though it is unclear whether he completely understood what the reporter meant.